Venture capital firm to target London tech startups
A venture capital firm has launched a £252 million fund to invest in early-stage tech startups across Europe.
Northzone, which is based in Sweden, is looking to invest in early-stage tech startups across Europe, with a particular focus on startups from the finance and health sectors in London.
Northzone was founded in 1996 and has invested in a number of notable companies, including Spotify and MarketInvoice.
The company has three partners based in London and has strengthened its team, with Michiel Kotting joining as General Partner from Accel in London and Uncover Co-Founder Christopher Steinau joining its London office.
Northzone is one of a number of companies to invest in early-stage startups this year. Earlier this year, Partech Ventures announced a $440 million investment in growth-stage startups, whilst Clear Ventures revealed that it would be launching a $120 million fund for startups.
Northzone said that the new fund has been its biggest to date, following an especially busy year.
The company said that even though the condition of the market was unsettled, it had been their quickest ever fundraise, which came after a year of good returns for their investors.
The company added that for the last 20 years, it has been chosen as a partner for growth by entrepreneurs who have had an influential affect on the tech scene in Europe.
Northzone stated that the new fund would allow it to keep supporting the best innovative companies.