Air Street Capital has announced the launch of a second fund of $121 million.

Advised on the second fund’s launch by London-based law firm Morgan Lewis, the venture capitalist for AI companies said it now has “significant resources” and the long-term capital partners to match the ambitions of its founders.

Air Street founder and general partner Nathan Benaich said its ongoing ambitions stretch beyond its immediate investments.

“We will remain committed to speaking out when powerful institutions or outdated policies hold the ecosystem back,” he said.

“Whether this is campaigning for a better deal for university spinouts with spinout.fyi, urging European governments to pursue a more ambitious R&D agenda, or pushing back against doomerism and regulatory capture - you can expect to hear even more from us in the coming years.”

Air Street’s previous fund invested in 19 AI companies across North America and Europe.
The companies which received investment from the first fund included Allcyte, provider of functional drug screening; Valence Discovery, which works on GenAI-addisted chemistry initiatives; and AI data platform V7.

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