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Laxman Pai, Opalesque Asia: Northzone, the European VC firm, has raised a new €1bn ($1bn) fund - its largest to date, and one of the biggest raised in Europe this year.
The tenth fund is double the size of its previous fund of $500 million in 2019, said a media release from the London-based VC firm.
With the new funds, Northzone will invest in global consumer and enterprise companies across Europe and the US. This will reflect the international VC firm's long-term investment philosophy, focusing on global opportunities at all funding stages from seed through to IPO, said the release.
"The fund will be used to back innovators and entrepreneurs across Europe who are building the most ambitious, category-defining tech companies of the next decade," it said.
"We're grateful to our entrepreneurs and LPs from around the globe for doubling down on this journey with us. Reflecting on the scale of the opportunity ahead, we will continue to be long-term partners to founders, focusing on opportunities across Europe and the US, from Seed through to IPO. We will continue to invest in existing verticals such as fintech, health tech, SaaS, and consumer. Many of the entrepreneurs we have yet to meet will build their own business category through this fund cycle," the company said.
Northzone team of 36 operates across 6 countries and represents 16 nationalities. "Many of the most successful companies Northzone invested in - such as Spotify, iZettle, Klarna, Trustpilo...................... To view our full article Click here
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