83North raises $200 million fund to invest in Israeli, European tech

TEL AVIV (Reuters) - 83North has raised a $200 million (132 million pounds) fund to invest in consumer and enterprise technology companies led by European and Israeli entrepreneurs, the venture capital firm said on Tuesday. With this new fund, the third raised in eight years, 83North now has over $550 million in capital under management. In the first two funds, it backed more than 30 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. Greylock partner David Sze said his firm planned to collaborate with 83North on investments. "We invest in specific domains of expertise including data centre and cloud technologies, software, marketplaces, consumer services and fintech," said Erez Ofer, a Tel Aviv-based partner at 83North. The firm also has offices in London, where it plans to expand, Ofer told Reuters. While in Israel the focus is mainly on early stage technology companies, "in Europe we see larger companies that are approaching larger audiences", he said. (Reporting by Tova Cohen; Editing by Mark Potter)