Air Street Capital
Investor profile | Builders Republic
About
Air Street Capital is the fund of Nathan Benaich, a London-based investor and co-author of the State of AI Report, created in 2019 and managed as a solo GP. Its thesis is exclusive: "AI-first" companies, where AI advancements are at the core of the product advantage. It covers AI models and infrastructure, development tools, robotics, defense, autonomous systems, and life sciences. After Fund II of $121M, Air Street announced Fund III of $232.3M in March 2026. The fund leads or co-leads seed rounds, with check sizes from $500K to $15M, and can invest up to $25M in a few more mature cases. Air Street's advantage doesn't lie in a large team: Benaich is the sole investor. He relies on the State of AI Report, Air Street Press, RAAIS, and a network of researchers and builders to track technical breakthroughs. The portfolio includes Synthesia, Black Forest Labs, Poolside, Profluent, Sereact, Graphcore, Adept, Clipdrop, and Gourmey. Documented exits include Graphcore with SoftBank, Adept with Amazon, Clipdrop with Stability AI then Jasper, and Fern Labs with Poolside. In France, Air Street has funded Gourmey, Clipdrop, Poolside, Alta Ares, and Macrodata Labs. For an AI founder with real technical differentiation, the fund offers direct decision-making and rare market insight; for software that simply uses AI, the fit is weak.
Key facts
- Type
- Venture Capital
- Stages
- Pre-Seed, Seed, Series A, Growth
- Headquarters
- UK
- Offices
- London
- Geographic focus
- Europe, USA
- Founded
- 2019
Track record
- Portfolio companies: 41
- Total investments: 49
- Exits: 8
- Unicorns: 5
Notable investments
Synthesia (GB), Black Forest Labs (DE), Poolside, Graphcore (GB), Adept (US), Alta Ares, Macrodata Labs, Gourmey