London’s Air Avenue Capital has raised a $232 million Fund III with eyes set on backing early-stage AI corporations throughout Europe and North America, the agency introduced Monday.
Test sizes will vary from $500,000 to $15 million, with choose progress investments reaching as much as $25 million. Led by Nathan Benaich, this increase makes Air Avenue one among Europe’s largest solo VC funds. It’s already backed notable AI unicorns like Black Forest Labs and ElevenLabs, and has seen exits from corporations like Adept (offered to Amazon) and Graphcore (offered to SoftBank).
The agency now has $400 million in property beneath administration, the FT reported. Its Fund II was $121 million, up from the $17 million raised for Fund I again in 2020.
