Northzone announces new $500 million fund for consumer and enterprise companies overthrowing legacy tech


Northzone has announced a new fund, Northzone IX, which has not yet reached a final close but is estimated at around $500 million. This is the UK firm’s ninth fund since its founding in 1996.

With Northzone IX, the firm wants to help conventional industries innovate beyond legacy technology, sectors such as financial services, healthcare, education, mobility and construction. Investments will continue to go toward consumer and enterprise companies across Europe and the eastern coast of the US, focusing primarily on Series A and B rounds. The fund has already made three investments, in Pollen (London), Spacemaker (Oslo) and Livepeer (NYC).

Northzone is particularly proud that many members of its team have founded their own companies at one point. With the launch of the new fund, Hello Fresh co-founder Jessica Schultz and Dots co-founder Paul Murphy have been promoted to General Partners, alongside Pär-Jörgen Pärson, Jeppe Zink, and Michiel Kotting. 

Jessica Schultz said: “We have always stood behind strong-minded founders with the ambition to think big and the conviction to build transformative businesses. This latest fund puts us in a strong position, together with our collective experience as investors, founders and operators, to back early-stage founders with the greatest potential.”

Paul Murphy added: “The start-up ecosystems beyond Silicon Valley have seen a step change in recent years in quality, scale and an abundance of experienced founder and operator talent, along with deeper pockets of capital. There has never been a better time for tech entrepreneurs in Europe.”

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