Ogier advises Air Street Capital on formation of third Guernsey venture capital fund

Ogier's Guernsey team has advised Air Street Capital on the formation of its third venture capital fund. 

Air Street Capital III LP secured commitments exceeding US$232 million, almost twice the size of Air Street Capital II LP. This makes Air Street Capital the largest solo GP venture firm in Europe.

The fund is backed by Tier 1 US university endowments, foundations, hospitals, and institutional investment management platforms, and will focus on AI-first companies in Europe and North America. In addition, the fund will selectively support a small number of category-leading companies at the growth stage.

The Ogier team included partner Bryon Rees and senior associate Gabrielle Payne, advising Air Street Capital on all Guernsey legal and regulatory aspects of the fund's launch. The team worked with lead onshore counsel Morgan, Lewis & Bockius UK LLP and Guernsey administrator Highvern. 

Bryon Rees said, "The launch of Fund III marks a significant milestone for Air Street Capital, and we are delighted to have advised on a Guernsey structure that supports the fund’s scale and ambition."