Northzone raises €1 billion to invest in technology innovation including Web3

Venture capital firm Northzone announces the launch of a €1 billion fund that will support fintechs and startups, including in the Web3 sector.

London-based Northzone, which has already invested in crypto and blockchain startups, today unveiled a $1 billion fund focused on fintech, healthtech, SaaS, Consumer and… Web3.

1 billion to invest in the next generation of change-makers. Between the global climate crisis and social, macroeconomic and political uncertainty, we believe that technological innovation will continue to be the beacon of hope that ensures true societal growth,” the VC said in a press release.

On TheBlock, Wendy Xiao Schadeck, a partner at Northzone, pointed to Web3 as an important segment for the firm. “Web3 and Web2 will likely start to converge over the life of this fund round,” she said, noting that Northzone may even invest in a DAO in the future.

In addition, it is learned that the venture capital firm is able to bet on Web3 projects by participating in digital token sales, in addition to traditional stock sales.

Last year, Northzone participated in the funding rounds of Livepeer and Magic Numbers, two startups in this new ecosystem.


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