Northzone Raises €260 million fund

    Nordic VC firm Northzone is now freshly cashed up with the announcement of a €260 million fund, dubbed Northzone VII, which they say was oversubscribed and reached a hard cap in record time. The firm had a busy year, putting together this fund while also investing in 21 companies mostly in the Nordic region, like Playraven, Fyndiq, and Outracks. Previously Northzone has invested in some of the defining companies of the Nordics, like Spotify, iZettle, and Trustpilot.

    As a hint as to where this money might end up, they say that they’re looking at fintech, mobile, and marketplaces as areas where they see room for category leaders. The firm has offices across the Nordic countries, with relatively new London and New York offices.

    Northzone tells TechCrunch that they expect to make around 30-35 investments with this fund, making space for their new early stage focus while still leaving plenty of money for those growth stage investments ranging between €5 million to €15 million.

    The firm writes on their blog:

    Being in the business of disruption for two decades, we our primary focus is on delivering value to the entrepreneurs. We are grateful to have been chosen by many great entrepreneurs over the past two decades.. With offices across the Nordics, London and in New York, we work around the clock to connect entrepreneurs with customers, business partners and key talent on a truly international scale. As former entrepreneurs ourselves, we have often been in similar situations, which is why we place trustworthy relationships with Founders at the core of our business.