London‑based Air Street Capital announced the closing of a $232 million Fund III, aimed at backing early‑stage artificial‑intelligence companies across Europe and North America.

• Check‑size investments will range from $500,000 to $15 million.
• Selective growth investments can reach up to $25 million.

The fund is led by veteran investor Nathan Benaich, making Air Street one of Europe’s largest solo venture‑capital funds. The firm’s portfolio already includes notable AI unicorns such as Black Forest Labs and ElevenLabs, and it has achieved high‑profile exits including Adept (acquired by Amazon) and Graphcore (sold to SoftBank).

With the new raise, Air Street’s assets under management now total $400 million. For context, Fund II was $121 million, while the inaugural Fund I raised $17 million back in 2020.

The fresh capital positions Air Street to continue fueling the next wave of AI innovation on both sides of the Atlantic.