Air Street becomes one of the largest solo VCs in Europe with $232M fund

London's Air Street Capital has raised 232 million dollars for Fund III. The fund will target early stage artificial intelligence companies in Europe and North America. The firm announced the closing on Monday. Investment checks will range from 500,000 dollars to 15 million dollars. Select growth investments could reach as high as 25 million dollars. The fund is led by Nathan Benaich. The raise makes Air Street one of the largest solo venture capital funds in Europe. The firm has already backed artificial intelligence unicorns such as Black Forest Labs and ElevenLabs. It has also recorded exits from Adept, which was sold to Amazon, and Graphcore, which was sold to SoftBank. Assets under management have reached 400 million dollars, the Financial Times reported. The second fund totaled 121 million dollars. The first fund raised 17 million dollars in 2020.