Northzone looks to follow largest, fastest fundraise with up to €450m Fund IX

Nordic venture capital firm Northzone is eyeing up to €450m for its latest fundraise, which would easily be the firm’s largest vehicle to date.

Northzone pulled in €300m for the final close of its eighth fund in 2016, outdoing the $325m (€250m) it had gathered for Fund VII in late 2014.

Northzone said at the time of the Fund VIII close that it was its fastest ever fundraise, despite “turbulent market conditions”.

The firm, which has been investing since 1996, backs businesses in areas ranging from FinTech, Blockchain and AI to gaming, edtech and e-commerce.

Earlier this year Northzone took part in a £26m Series B round for invoice finance platform MarketInvoice, alongside Barclays and the fintech venture capital fund of European bank Santander.

MarketInvoice has funded invoices and business loans to UK companies worth more than £2bn since 2011, making it Europe’s largest online invoice finance platform.

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