83North (formerly Greylock Israel), a venture capital firm which focuses on Israeli and European tech, announced the closing of $550 million for the firm’s sixth flagship fund. Including the new capital, the VC firm manages $1.8 billion in holdings.

21 startup exits under its belt

The firm’s sixth fund comes two years after the firm raised $300 million for its fifth fund. The incoming capital comes from institutional investors, banks, universities, and Family Offices. The fund is managed by four investing partners, including: Laurel Bowden, Arnon Dinur, Gil Goren, and Yoram Snir, who run the fund from locations in Tel Aviv and London.

To date, 83North has invested in 80 ventures at various stages - starting from Seed rounds to later stages, and also notes 21 startup exits under its belt. Other than great ROI following numerous portfolio acquisitions, the firm backs 12 Unicorns, and has already witnessed a few of their startups go public. Among the fund’s success stories, we find Via; Vast; IronSource and Marqeta, which went public; iZettle, acquired by PayPal; Danish food delivery platform Just Eat, which was acquired by Takeaway.com; and stake in another popular Scandinavian food delivery company in Wolt. Lately, the fund enjoyed a nice return on investment following the $400 million acquisition of Wandera by American company Jamf.

Other notable investments include ExCo; MixTiles; StuffThatWorks, and its chronic condition crowdsource solution; Israeli frictionless shopping Unicorn Trigo; and Zerto.

The fund doesn’t tend to limit its investment prowess to specific industries, but over the last few years, the firm has shifted its focus to the highly popular healthcare, IT, robotics, and automation sectors. Nearly half of 83North’s total invested capital has been aimed at the Israeli startup ecosystem, while the other 50% is spread out through various European ventures.