Venture capital firm Northzone raised $500m for its newest fund, Northzone IX.
The fund, one of the largest early stage venture capital funds raised in Europe this year, will double down on investing in early-stage innovative consumer and enterprise companies across Europe and the US East Coast, focusing primarily on Series A and B rounds. Selective seed stage investments will continue to be a part of the firm’s investment strategy.
The new fund will pursue opportunities that address large and established industries saddled with legacy technology, such as financial services, healthcare, education, mobility and construction, in B2B as well as in consumer applications.
It has already made three investments, in Pollen (London), Spacemaker (Oslo) and Livepeer (NYC). In addition, the fund made two investments in one unannounced SaaS business.
With the launch of NZ IX, Hello Fresh co-founder Jessica Schultz and Dots co-founder Paul Murphy have been promoted to General Partners, alongside Pär-Jörgen Pärson, Jeppe Zink, and Michiel Kotting.
Northzone is also announcing the promotion to Principal of Wendy Xiao Schadeck, who founded CoHatchery, a co-working space with onsite childcare, based in NYC, and Chris Steinau, co-founder of restaurant bookings platform Uncover, based in London, as well as the promotion of Henrik Grim, based in Stockholm, to Investment Manager, further strengthening the investment team.
Founded in 1996, Northzone is one of the most experienced venture capital firms in Europe, with offices in Stockholm, London, New York and Oslo.
It has raised 9 funds to date, and with the latest fund, Northzone has raised a total of €1.5 billion.
For the past two decades, Northzone has invested in over 150 companies, including seminal names in European tech such as Spotify, iZettle, Klarna, Avito, Trustpilot, lastminute.com, Stepstone, Personio, Zopa and others.