Latest article by Henry Joseph-Grant, to see more click here
It has been announced today that David Buttress, the recently departed CEO of JUST EAT is joining leading VC 83North as General Partner.
83North (formerly Greylock IL) are one of Europe and Israel’s most respected Venture Capital firms, having invested in many successful startups including an investment in JUST EAT at series B alongside Redpoint and also investing at Series C alongside Index Ventures and Vitruvian Partners, shrewd placements given the eventual IPO at $2.44Bn in April 2014, which was the largest european tech IPO for 8 years. Other notable investments include Hybris (acquired by SAP), ScaleIO (acquired by EMC), Social Point (acquired by Take2), Celonis, Ebury, iZettle, Payoneer, Via and Zerto.
David will be the second London-based partner for 83North and will be tasked with investments across Europe and Israel.
“The world of technology is diversifying from its traditional centre of gravity in Silicon Valley. The right combination of great entrepreneurs, disruptive technologies and financial backing is opening up exciting opportunities for world-leading technology companies to be created and managed out of Europe and Israel,” he said.
“Every entrepreneur in the world could benefit from his unique operational experience whether they’re building a consumer or enterprise tech business,” said Laurel Bowden, general partner at 83North.
David much like JUST EAT is a fantastic story of success, he was instrumental in taking JUST EAT from an early stage startup, where he joined in 2006 initially setting up and leading the UK business, until 2013 when he took the helm as CEO, a key point in JUST EAT’s history given the IPO the following year. The proceeding years under David’s leadership saw JUST EAT dominate it’s industry and continue to grow at a phenomenal rate, this is reflected by it’s market cap doubling and as of today it stands at $5Bn, the 111th most valuable company on the London Stock Exchange.
David joined 83North as a special advisor in late 2014 and was an investor in the firms main fund. The firm has recently announced a new $250m fund which was over subscribed.
David, having sat on the other side of the investment table, in turn gaining invaluable experience in what it takes to go from startup to IPO and beyond, it means that he is far from your average VC (I know this first hand as I worked with David for 4 years of my own career at JUST EAT) I have no doubt he will become equally as huge a success as an investor as he was an entrepreneur and one of the worlds top venture capitalists.
Well done to both 83North and David, wishing you guys all the best.
To follow Henry Joseph-Grant on Twitter, click here
— Henry Joseph-Grant (@speirin) April 1, 2017