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Northzone secures £868m for Fund X

Northzone fund X
Image credit: Northzone

Venture capital firm Northzone has secured more than €1bn (£868m) for its Fund X to support startups in Europe and the US. Investing in consumer and enterprise companies, Northzone will continue to invest from seed to IPO.

Northzone has previously invested in the likes of Spotify, Zopa, Klarna, TIER and Pollen.

Jessica Schultz, partner, Northzone 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.”

The Northzone Fund X follows the firm’s $500m Fund IX in 2019.

Areas that Northzone typically backs are fintech, healthtech, SaaS and enterprise software.

Last week saw the venture capital firm appoint Anna Skarborg as its first head of sustainability.

“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,” said Michiel Kotting, partner, Northzone.

Founded in 1996, Northzone is based in New York, London, Stockholm, Amsterdam and Berlin with a team of 36.

Today also saw Energy Impact Partners launch its £337m European fund, which has received backing from tech giant Microsoft.