Home News Northzone Secures Over $1B Capital for Innovation in Web3.0

Northzone Secures Over $1B Capital for Innovation in Web3.0


European Venture Capital firm Northzone announced that it has raised its largest fund ever worth €1 billion approximately $1.02 billion.

Interestingly, this is one of the largest funds which has been raised in Europe to date. This tenth fund cycle will be invested in technological innovations across the globe in the face of the global climate crisis and social, macroeconomic, and political uncertainty.

The firm regards technological innovations as the solution which will deliver real societal growth in the present turbulent market. According to the announcement, “now more than ever, we look to entrepreneurs who are building a mindful, innovative future; and founders have proven many times that they thrive in turbulent times.”

Invariably, the VC was able to secure these funds from both new and existing investors even in the current market conditions.

Northzone plans to invest its capital in different startup categories in the financial technology industry and the crypto ecosystem. The fund will span from the seed stage up to the initial public offering, giving out cheques worth between $1 million to $40 million. Northzone intends to keep investing in fintech, health tech, Software-as-a-service (SaaS), and consumers.

Northzone Injects Capital Into Crypto Projects

This is not Northzone’s first foray into the crypto ecosystem, in fact, about a year ago, Northzone led a $27 million round for Magic Numbers. Magic Numbers is an Ethereum (ETH) based authentication platform. It had equally supported a decentralized video transcoding platform built on ETH blockchain Liverpeer in a round where it secured $20 million.

Altogether, the Northzone portfolio includes Personio, Hopin, Tier, Trustpilot, Klarna, Motatos, Edtech Microverse, and Spotify which is one of its most notable exits. Already, a part of the fund has been set aside for an opportunity fund known as Wendy Xiao Schadeck. Wendy Xia Schadeck is one of the firm’s New York partners.

Several other firms have received funds to boost Web3.0 even as a payment option. LightNet Group bagged a $50 million capital commitment to enhancing Web3.0 payment. Specifically, the fund will be used to boost and accelerate the Lightnet technological partners’ blockchain built by Velo Labs Technology. KuCoin also floated a $100 million creator fund for Web3.0 advancement. 


  • TAGS
  • Europe
  • Funding
  • Northzone
  • Web3.0
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Victoria Nye
A Blockchain columnist who is enthusiastic about developing a network interface between the real world and the cryptosphere.
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