April 5, 2017 / 11:23 AM / 10 months ago

83North raises $250 mln fund to invest in Israeli, European tech

JERUSALEM, April 5 (Reuters) - Venture capital firm 83North has raised a $250 million fund, its largest yet, to invest in European and Israel technology companies.

The group said on Wednesday the new fund, its fourth in 11 years, brings its total capital under management to $800 million.

Its earlier funds backed more than 40 companies, including Germany’s Hybris Software, which was acquired by SAP in 2013; ScaleIO, which was bought by EMC Corp; and Britain’s Just Eat , which went public in London.

83North started as Greylock IL, an affiliate fund of Silicon Valley’s Greylock Partners, an early investor in companies such as Facebook and LinkedIn. Today, 83North is an independent firm investing in European and Israeli firms. (Reporting by Ari Rabinovitch)

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