Northzone, a 20 year veteran of the European VC industry, has closed its 8th fund, capped at €300 million, which it will deploy to “early-stage” startups in the region. Specifically, these will be A, B and C rounds, and although investments will span the whole of Europe, there will be particular focus on key tech hubs, including the Nordics, London, and Berlin.
The VC also says that, despite turbulent times, the fund was oversubscribed and that LPs consist of existing investors in previous funds it manages, as well as new “top tier institutional” investors (e.g. pension funds and large family offices) who wanted in on the Northzone action.
The VC — which currently has around €1 billion under management, making it one of the largest in Europe — says it’s been an impressive year for Northzone with exits including the IPO of Tobii, and the sale of Avito in what it claims was one of the largest venture-backed tech M&A deals in Europe.