Today Northzone announced the closing of its latest Fund VII, reaching a hard cap of €250 million ($325 million) on the back of strong performances in previous funds. The fund was oversubscribed, and is one of the largest early-stage venture funds raised in 2014 globally.
Northzone was founded in 1996, and has invested in over 110 technology companies including Stepstone, Pricerunner, Lastminute, Nimsoft, EnergyMicro and EPiServer. The current portfolio contains a range of fintech, consumer internet, SaaS, and ecommerce companies.
After positioning itself in Stockholm, Oslo, London and New York, as a result of this fund, Northzone will continue to expand, supporting the international efforts of its portfolio companies, and sourcing new investment opportunities across the world.
Pär-Jörgen Pärson, Partner at Northzone says: “We are grateful for the support and vote of confidence from our investors, as well as the entrepreneurs whose hard work and innovation has made it possible for Northzone to outperform and deliver such strong returns. A fund of this size enables us to support the most ambitious entrepreneurs in reaching their potential on a global basis, regardless of stage or geography.”
The Northzone portfolio includes notable successes including Spotify, Avito, Tobii, iZettle and Trustpilot, and the company’s sector-led investment strategy has seen recent activity in mobile and fintech, whilst investment in marketplaces and digital content also remains prominent. Northzone has welcomed 21 new companies into its portfolio in the last twelve months, including a significant number of pre-revenue companies, demonstrating the firm’s commitment to both early and later stage venture investments.
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