- Northzone, a UK-based venture capital firm, announced €1 billion in funding.
- The firm will be investing in potential crypto and web3 startups.
- Nothzone has a successful investing track record since 1996.
London-based venture capital company, Northzone, announced €1 billion in funding for crypto and fintech startups. The announcement was made by the firm today.
This is not just Northzone’s greatest raise to date, but also one of the largest fundraises of the venture capital in the European ecosystem. The firm has had an established presence since 1996 as an investor.
Northzone claims to have made over 150 investments to date. The company said that the fresh funding will be utilized to expand on its record of successful investments by investing in fintech, health tech, SaaS, office software, consumer applications, and entertainment firms.
The company is planning to utilize the funds on firms throughout Europe and the US, from the seed stage to IPO.
Northzone has supported several tech firms, including a banking firm called TrueLayer, Spotify, and a buy-now-pay-later firm, Klarna.
Northzone Partner, Jessica Schultz, said:
The tech, the talent, and the growth trajectories are an order of magnitude greater than a decade ago. Raising €1 billion recognizes the enormous ambition of European founders and the capital they need to create world-beating businesses.
The rising interest and adoption of crypto have made venture capitalist firms to look for budding crypto and web3 startups. Another Northzone partner, Wendy Xiao Schadeck, stated that web3 is the core sector of the firm.
According to Schadeck, Northzone infrastructure is in place to support entrepreneurs through both equity investments and token sales and has already taken part in token staking. “In the right situation, the firm is also open to investing in DAO,” said Schadeck.