Air Street Capital

Air Street Capital is a London-based venture capital firm founded in 2019 by Nathan Benaich, a former computational cancer researcher and co-author of the widely-read annual State of AI Report. The firm invests exclusively in AI-first companies where artificial intelligence is the essential core of the product, not an add-on, with a mandate spanning software, science, the physical world, and defense. Benaich began investing in AI companies as an angel in 2013, years before the category became competitive, and has built Air Street through three consecutive fund generations. Fund I raised $17 million in 2020, Fund II closed at $121 million in 2023 with limited partners including Daniel Ek, founder of Spotify, and Fund III announced in March 2026 at $232 million, making it the largest solo general partner venture fund ever raised in Europe and bringing total assets under management to approximately $400 million. Fund III writes initial checks of $500,000 to $15 million for early-stage companies in North America and Europe, with a reserved allocation for select growth investments of up to $25 million. The firm operates as a solo GP, enabling faster and more concentrated conviction-driven decision-making than partnership structures allow. Notable portfolio exits include Graphcore, acquired by SoftBank, and Adept, acquired by Amazon. Beyond its original investments in Synthesia, Poolside, Profluent, Black Forest Labs, and Sereact, the broader portfolio includes Wayve, Delian Alliance Industries, and ElevenLabs.