83North Closes a $300 Million Fifth Fund

Israel-based venture capital firm 83North Ltd. has raised a $300 million fifth fund, the firm announced Monday. The new fund brings the firm’s assets under management to $1.1 billion, according to 83North’s statement.

Founded in 2006 and based in central Israeli town Herzilya, 83North was formerly known as Greylock IL. The firm invests in both Israeli and European companies. 83North’s portfolio companies include web and mobile monetization company IronSource Ltd., in which private equity firm CVC Capital Partners recently agreed to buy a 25% stake for $450 million. Calcalist first reported the deal Wednesday.

 Other portfolio companies include ridesharing company Via Transportation Inc., London-listed online food order and delivery service Just Eat Holding Ltd., Helsinki-headquartered food order and delivery service Wolt Enterprises Oy, and Tel Aviv-based autonomous vehicle safety startup Foretellix Ltd.

The firm does not intend to appoint any additional partners as part of its new fund, 83North partner Arnon Dinur said in a Sunday interview with Calcalist. He also revealed that the firm initially aimed to raise $200 million but increased the sum due to oversubscription. The firm will continue to focus on several specific domains, he said, among them data processing, cloud technologies, enterprise software, fintech, and IoT.