Deals
Spotify-Backer Northzone Raises $500 Million for New Investments
- Investor has also backed startups like iZettle and Trustpilot
- Northzone IX is among the biggest VC funds raised in Europe
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Venture capital firm Northzone said it raised $500 million to create its ninth fund for investing in startups across Europe and the U.S., following lucrative early bets on companies such as Spotify Technology SA, iZettle AB and Trustpilot AS.
It’s also the company’s largest investment vehicle to date, Paul Murphy, general partner at London-based Northzone, said in an interview. Despite this, the strategy of focusing on early-stage startups and initial checks of about 5 million euros to 15 million euros ($5.5 million to $16.6 million) wouldn’t change, he added.