Northzone announces first close of new venture fund
(Thomson Reuters ONE) - (16 February 2010) Northzone Ventures today announces the first close of EURO90 million of a new fund, Northzone VI. Targeting EURO 150 million, the fundwill invest in fast growing European technology companies. Leading Nordic andInternational institutional investors participated in the first close."Naturally, we're very pleased with this," comments Tellef Thorleifsson, GeneralPartner. "Although these are great news for the venture capital market, we don'tclaim that the crisis is over yet. However, stellar entrepreneurs can alwaysfind financing, and as we have had the privilege to be chosen as partners byquite a few of those - Spotify, EPiServer, Napatech and Stepstone among them -well, there we are. To be frank, we expect the adverse financial marketconditions to continue. But in hard times, the best entrepreneurs get going andthus we are actually looking forward to team up with more than our fair share ofworld class entrepreneurs."Northzone was established in 1996 and has raised a total of EURO 445 million insix funds to date. The company has offices in Oslo, Stockholm and Copenhagen andhas invested in more than 70 companies since its inception. In September 2009,Northzone was awarded the "European Venture Capital Fund of the Year" at theInvestor Allstars Awards. Northzone is lead investor in high profile growthcompanies such as Nimsoft, Tobii, Funcom, and Innotech Solar. Previous successesinclude companies such as Lastminute, Pricerunner, NextGenTel and Trolltech.Northzone focuses on backing world class entrepreneurs in building high growthcompanies with a global potential within the technology and cleantechsectors.Northzone and its seven General Partners - most of them formersuccessful entrepreneurs - invest both in early stage and in the expansionphase. Since the start of the financial crisis, the Northzone portfoliocompanies have raised more than EURO 160 million in external funding - a veryhigh share of funds raised to European venture backed technology companiesduring the period."We are very happy to participate in the first Venture Capital Fund to belaunched in Europe for more than a year. Northzone´s strong track record andsense for investment opportunities speak for themselves", says investor AngelaWilletts, a UK-based Director at Global Private Equity Asset Manager, CapitalDynamics.For further comments or questions, please contact: Tellef Thorleifsson Phone +47 913 22541 Email tellef(at)northzone.com <./tellef(at)northzone.com> Lea Bajc Phone +46 703 675424 Email lea(at)northzone.com <./lea(at)northzone.com>[HUG#1384737]
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Datum: 16.02.2010 - 08:02 Uhr
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