Northzone announces its new fund: Northzone IX. The new fund attracted existing and new Limited Partners, and was raised at record speed, showing the strong global interest in the European early-stage venture capital market. The fund is one of the largest early-stage venture capital funds raised in Europe this year.
Northzone IX 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 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. The fund has already made three investments, namely in Pollen based out of London, Spacemaker based out of Oslo, and Livepeer based out of New York City.
The majority of Northzone’s investment team have previously founded companies, compared to an average of under 10 per cent of Venture Capital funds based in the UK. 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.
Schultz said in the press release: “We have always stood behind strong-minded founders with the ambition to think big and the conviction to build transformative businesses. This latest fund puts us in a strong position, together with our collective experience as investors, founders and operators, to back early-stage founders with the greatest potential.”
Murphy added: “The start-up ecosystems beyond Silicon Valley have seen a step change in recent years in quality, scale and an abundance of experienced founder and operator talent, along with deeper pockets of capital. There has never been a better time for tech entrepreneurs in Europe.”
Internal Changes in the Investments Team
Meanwhile, Northzone is also announcing changes in their internal team, whereof two of their employees have been promoted. Amongst others, the promotion of Henrik Grim, based in Stockholm, to Investment Manager, further strengthening the investment team.
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