London-headquartered VC Northzone has raised in excess of €1 billion in new funds.
Northzone’s 10th fundraise is its largest to date and one of the largest venture capital funds raised in Europe this year. It plans to invest in global consumer and enterprise companies across Europe and the US, with a focus on global opportunities at all funding stages from seed through to IPO.
Northzone’s investment strategy will continue to focus on companies with strong propositions and founders with the vision and conviction to succeed on a global stage. In the past, this has included leading the early-stage rounds of Spotify, Kahoot!, Personio and TIER but also later stage investments like Klarna and Zopa.
The team will continue investing in verticals such as FinTech, HealthTech, SaaS workplace software as well as consumer apps and entertainment.
“The tech, the talent and the growth trajectories are an order of magnitude greater than a decade ago,” said partner Jessica Schultz.
“Raising €1bn recognises the enormous ambition of European founders and the capital they need to create world-beating businesses.”
Since the launch of its $500m Fund IX in 2019, Northzone has significantly expanded its offer to founders with new hires across sustainability, marketing, talent and business development.
It is one of the only venture firms globally with a 50/50 gender split in its investment team.
Michiel Kotting, also a partner, added: “Successful entrepreneurs come from many walks of life. Our team here at Northzone reflects that, with a group that dares to think differently because of its diversity of thought and backgrounds.
“This has long been a driving force for our success and we look forward to adding the very best talent to our team and portfolio as we grow.”