European Venture Firm Overcomes Brexit Concerns With New Fund
- Northzone Raises 300 million euros to back new startups
- Investors raised questions about Brexit’s broader impact
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One of Europe’s oldest venture-capital firms had to overcome concerns about the post-Brexit future of Europe when raising its latest fund to finance a new batch of startups in the
region.
Northzone, an early backer of Spotify Ltd., said Monday that it raised 300 million euros ($335 million) to continue investing in European companies. In compiling what is the largest fund of the firm’s 20-year history, London-based Northzone turned to investors in Asia for the first time. Many there expressed concerns that the European Union’s future is at risk, threatening the region’s economy.