Northzone closes seventh fund

The VC said Northzone VII was oversubscribed and holds commitments from new and existing LPs.

Announced in December 2013, the VC held a first close on €150m that month. The fund, which had a €200m target, is Northzone's largest to date and is registered in Jersey. It will further the firm's expansion outside of its Nordic home region, having opened offices in New York and London in recent years.

The VC has had a busy Q4, with investments including BehavioSec, MarketInvoice, Space Ape Games and Fyndiq.

Founded in 1996, Northzone has backed companies such as Spotify, Pricerunner and iZettle.

Investors
General partner at Northzone, Tellef Thorleifsson told unquote" the fund's LPs are mainly European institutions and large family offices.

LPs in Northzone include Argentum, SEB Pension and Swedish pension fund Sjätte AP Fonden (AP6), AP3, Skandia and BnP Paribas. Norway's Argentum has committed a total of €23m to the vehicle.

Investments
The vehicle will invest primarily in technology companies within the Nordic region, and will consider investment opportunities in the rest of Europe.

People
Tellef Thorleifsson is a general partner at Northzone.

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