Northzone Ventures has closed its fifth fund, Northzone V, on €175m in its one and only closing.
A whole host of investors from previous funds returned for the latest offering from the Nordic firm, including Argentum, Nordea Life and Pensions, LGT Capital Partners, Vital, Access Capital Partners and Swiss Re. New investors include AlpInvest Partners, Pantheon Ventures and BNP Paribas Private Equity. Fifty-five of Northzone V’s LPs are based outside of the Nordic region.
The latest fund from the Oslo-headquartered VC will follow the same investment strategy as its predecessors, namely investing in fast growth technology, software and telecom companies primarily in the Nordic region.
Global Private Equity acted as placement agent on selected mandates for the fundraising.