HomeFundingLondon-based VC firm Northzone unveils €1 billion to back game changing European...

London-based VC firm Northzone unveils €1 billion to back game changing European innovators

As Europe’s VC space continues to back ambitious entrepreneurship, Northzone has announced it’s tenth fundraise of €1 billion! This mega fundraise is Northzone biggest to date and one of Europe’s largest this year.

Making sure Northzone remains a familiar and renowned name across Europe, the firm has just unveiled that it has raised in excess of €1 billion in new funds. 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.

Europe’s VC space has been escalating recently with different firms announcing big funds available to support the long-term growth of the continent’s entrepreneurial ecosystem, particularly supporting those who are bringing about innovation for the future of society. Only looking at August and we’ve seen Claret Capital, Octopus Energy, Inovo VC, Green Generation Fund, Cornerstone VC and Furthr VC all make announcements. 

Jessica Schultz, Partner, said: “The tech, the talent and the growth trajectories are an order of magnitude greater than a decade ago. Raising €1bn recognises the enormous ambition of European founders and the capital they need to create world-beating businesses.”

European VC veterans

Founded in 1996, Northzone is one of the powerhouses in Europe’s VC space, having built a strong reputation upon experience spanning multiple tech cycles. This is the firm’s tenth fund – it’s most recent being back in the pre-pandemic days of 2019 when it raised its $500 million Fund IX. 

The London-headquartered firm has since been extending its offer to founders with new hires across Sustainability, Marketing, Talent and Business Development. Northzone continues to build a diverse team, both internally and through its portfolio companies and is one of the only venture firms globally with a 50/50 gender split in its investment team.

Current partners are Pär-Jörgen Pärson, Kilian Pender, Wendy Xiao Schadeck, Jessica Schultz, Jeppe Zink, Michiel Kotting and Elena Pantazi.

Michiel Kotting, 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.”

Long term investments

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.

Northzone will continue to focus on companies with strong propositions and founders with the vision and conviction to succeed on a global stage. The team certainly has an impressive portfolio, having invested in over 150 companies, including market leaders and industry game changers such as 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.   

Patricia Allen
Patricia Allen
is the Head of Content at EU-Startups. With a background in politics, Patricia has a real passion for how shared ideas across communities and cultures can bring new initiatives and innovations for the future. She spends her time bringing you the latest news and updates of startups across Europe, and curating our social media.

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