# Northzone: portfolio, investments and team > Northzone is a vc firm based in United Kingdom. 240 investments on record, 23 in the last 12 months, latest Oct 2026. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/northzone (Millionrounds; every figure on the page links to its filing or article) United Kingdom · [Investor](https://millionrounds.com/investors) # Northzone Last cheque observed Oct 2026; 240 cheques on record. Email Deploying now New fund $66M, Jun 2026 VC firm Seed Series A Series B Business Automation Talent Recruitment Follow Northzone and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fnorthzone) Deploying now **70%** of best year **23** **cheques in 12 months**, 240 on record Since the last cheque **17** days **00** hrs **00** min **00** sec Median round **$22M** Cheque size, as they say **$1.0M – $15M** Rounds led **11 of 240** Sole investor **25 rounds** Exits **10 from the portfolio** Mostly in **United States, 33%** Pitch Northzone ## Northzone highlights - 01 23 cheques in the last 12 months - 02 Mostly Series A and Venture: 53% of its rounds - 03 Sole investor in 25 rounds, median $3.7M - 04 10 exits from the portfolio ## What they do > Northzone is a multi-stage venture capital firm operating across Europe and the US. From their own website - **Type:** VC firm (from a list, unverified) - **Cheque size:** $1.0M – $15M as they say - **Stages:** Seed Series A Series B Growth - **Sectors:** Business Automation Talent Recruitment - **Based in:** London, United Kingdom - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **240 appearances** - **2026** 19 rounds - **Oct** **[Duvo](https://millionrounds.com/company/duvo)** Series A · CZ · Pulse 2.0 **$32M** With 3 others - **Sept** **[Rayon](https://millionrounds.com/company/rayon)** Series A · FR · Tech Funding News **$11M** With 5 others - **Sept** **[Tandem Health](https://millionrounds.com/company/tandem-health)** Series B · SE · ArcticStartup **$100M** With 5 others - **Jul** **[Yope](https://millionrounds.com/company/yope)** Seed · GB · TechCrunch **$12M** *Led* - **Jul** **[Monumental](https://millionrounds.com/company/monumental)** Series B · NL **$32M** With 3 others - **Jul** **[microagi](https://millionrounds.com/company/microagi)** Seed · DE **$55M** With 3 others - **Jun** **[Einride](https://millionrounds.com/company/einride)** SE **$113M** With 3 others - **May** **[Blitzy](https://millionrounds.com/company/blitzy)** Growth · US · Crunchbase News **$200M** *Led* - **May** **[XBOW](https://millionrounds.com/company/xbow)** Series C · US **$35M** With 4 others - **Apr** **[Spektr](https://millionrounds.com/company/spektr)** Series A · DK · Crunchbase News **$20M** With 4 others - **Apr** **[Sona](https://millionrounds.com/company/sona)** Series B · GB · Ventureburn **$45M** With 7 others - **Mar** **[OpenFX](https://millionrounds.com/company/openfx)** Series A · Ventureburn **$94M** With 7 others - **Mar** **[XBOW](https://millionrounds.com/company/xbow)** Series C · US · Ventureburn **$120M** *Led* - **Mar** **[Flink SE](https://millionrounds.com/company/flink-se)** Venture · DE · Ventureburn **$100M** With 6 others - **Mar** **[SolveAI](https://millionrounds.com/company/solveai)** Series A · GB · Ventureburn **$45M** With 4 others - **Feb** **[Seamflow](https://millionrounds.com/company/seamflow)** Seed · US **$4.5M** With 3 others - **Feb** **[TrueLayer](https://millionrounds.com/company/truelayer)** Venture · GB **Undisclosed** With 4 others - **Jan** **[GovDash](https://millionrounds.com/company/govdash)** Series B · US · Firms' own news pages **$30M** With 5 others - **Jan** **[Brickanta](https://millionrounds.com/company/brickanta)** Seed · SE **$8.0M** With 2 others - **2025** 31 rounds - **Dec** **[Iconic](https://millionrounds.com/company/iconic)** Seed · GB **$13M** With 3 others - **Dec** **[Duvo](https://millionrounds.com/company/duvo)** Seed · CZ **$15M** With 2 others - **Dec** **[Black Forest Labs](https://millionrounds.com/company/black-forest-labs)** Series B · DE · Crunchbase News **$300M** With 16 others - **Nov** **[General Counsel AI](https://millionrounds.com/company/general-counsel-ai)** Series B · US **$60M** With 3 others - **Oct** **[Einride](https://millionrounds.com/company/einride)** Series C · SE · Silicon Canals **$100M** With 5 others - **Oct** **[Katana](https://millionrounds.com/company/katana)** Series B · EE · Cogito Capital Partners **$16M** With 6 others - **Oct** **[Riff](https://millionrounds.com/company/riff)** Series A · US **$16M** With 2 others - **Oct** **[fuboTV](https://millionrounds.com/company/fubotv)** Debt · US **$145M** With 2 others - **Sept** **[Predoc](https://millionrounds.com/company/predoc)** Series A · US · AlleyWatch **$30M** With 5 others - **Sept** **[Defacto](https://millionrounds.com/company/defacto)** Venture · FR **$19M** With 2 others - **Aug** **[Topline Pro](https://millionrounds.com/company/topline-pro)** Series B · US · AlleyWatch **$27M** *Led* - **Jul** **[Murphy AI](https://millionrounds.com/company/murphy-ai)** Seed · ES **$13M** With 2 others - **Jul** **[CarOnSale](https://millionrounds.com/company/caronsale)** Series C · DE **$82M** With 4 others - **Jun** **[Finom](https://millionrounds.com/company/finom)** Series C · NL · TechCrunch **$133M** With 6 others - **Jun** **[Bedrock Ocean Exploration](https://millionrounds.com/company/bedrock-ocean-exploration)** Series A · US **$25M** With 4 others - **Jun** **[Holidu](https://millionrounds.com/company/holidu)** Venture · DE **$53M** With 4 others - **Jun** **[Tandem Health](https://millionrounds.com/company/tandem-health)** Series A · SE **$50M** With 1 other - **May** **[Filed](https://millionrounds.com/company/filed)** Seed · US · TechCrunch **$17M** *Led* - **May** **[Clarium](https://millionrounds.com/company/clarium)** Series A · US · AlleyWatch **$27M** *Led* - **May** **[Kota](https://millionrounds.com/company/kota)** Series A · IE **$15M** With 5 others - **May** **[Ravio](https://millionrounds.com/company/ravio)** Series A · GB **$12M** With 3 others An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team Named by the firm itself, on a filing, its Form ADV or its company registration **24 named** BS **Bj?rn Stray** Principal i Filing they signed BS **Bjorn Stray** Shareholder i Form ADV CM **Christopher Michael Steinau** Shareholder i Form ADV DM **David Middleton** Director i Form ADV EC **Elena Christina Pantazi Read** Shareholder i Form ADV EL **Eliot Lincoln** Director i Form ADV ES **Emma Syvret** Director of the General Partner of the GP. i Filing they signed GJ **Gareth Jefferies** Shareholder i Form ADV GK **Gregers Kronborg** Principal i Filing they signed HO **Hans Otterling** Principal i Filing they signed IL **Ian Lambert** Director of the General Partner of the GP. i Filing they signed JH **Jackson Heddy** Shareholder i Form ADV JG **James Gywn Bryant** Director i Form ADV JH **Jeppe Heinrich Zink** Shareholder i Form ADV JA **Julia Anne Jennifer Chapman** Member, Board of Directors of the General Partner i Filing they signed KR **Ken Ritchie** Director of the General Partner of the GP. i Filing they signed KJ **Kentle John Rafford Ritchie** Director i Filing they signed KA **Kilian Austin Pender** Shareholder i Form ADV L(**Laura (nmn) Hazzard** Director i Form ADV MJ **Martin John Dryden** Director i Form ADV MR **Matthew Robins** Member, Board of Directors i Filing they signed MD **Michiel David Kotting** Shareholder i Form ADV NJ **Nicholas John Rafford Watkins** Director i Filing they signed PJ **P?r J?rgen P?rson** Principal i Filing they signed We also hold **52** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. ## What the register says From the firm's own filings with the SEC, which it must file accurately by law **$1.7B** gross assets of its funds, 3 advisers combined Oct 2026 **10+** funds on file numbered funds in its name **Exempt** reporting adviser venture or small private funds - **Legal name:** Northzone Management IX Limited - **SEC number:** CRD 327695 Who backs their funds ## 2 LPs on record in Northzone's funds - **Funds:** 1 The institutions that put money into its funds, which the firm then invests in companies. Source: an LP list. - [**Axon Partners Group** 1 fund](https://millionrounds.com/fund/axon-partners-group) Fund Vintage Committed Northzone - - - [**Pacenotes** 1 fund](https://millionrounds.com/fund/pacenotes) Fund Vintage Committed Northzone - - ## What they claim to have backed From their own portfolio page (on their website) **0** of 1 we have independently watched raise company Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded. ## Exits from the portfolio Companies it backed that were later bought or listed **10 in all** **[Avito.ru](https://millionrounds.com/company/avito-ru)** Bought by [Naspers](https://millionrounds.com/fund/naspers) **$1.2B** Oct 2015 **[mCASH](https://millionrounds.com/company/mcash)** Bought by SpareBank 1 **Undisclosed** Oct 2015 **[Videoplaza](https://millionrounds.com/company/videoplaza)** Bought by Ooyala **Undisclosed** Oct 2014 **[Jasper Design Automation](https://millionrounds.com/company/jasper-design-automation)** Bought by [Cadence Design Systems](https://millionrounds.com/fund/cadence-design-systems) **$170M** Apr 2014 **[Imbera Electronics](https://millionrounds.com/company/imbera-electronics)** Bought by General Electric (GE) **Undisclosed** Sept 2013 **[Energy Micro](https://millionrounds.com/company/energy-micro)** Bought by Silicon Laboratories **$170M** Jun 2013 **[T-VIPS](https://millionrounds.com/company/t-vips)** Bought by nevion **Undisclosed** Jan 2013 **[Colibria](https://millionrounds.com/company/colibria)** Bought by Metaswitch Networks **Undisclosed** Apr 2011 **[Colibria](https://millionrounds.com/company/colibria)** Bought by Synchronica **Undisclosed** Apr 2010 **[Qt Software](https://millionrounds.com/company/qt-software)** Bought by [Nokia](https://millionrounds.com/fund/nokia) **$153M** Jan 2008 An exit counts when it came after the firm's first round in the company. From historical deal records. New fund on file **$66M** raised in Jun 2026 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Seed Series A Series B Median round joined **$22M** the round, not its cheque Alone, median **$3.7M** Led 11 of 240 rounds **5%** - **Said size:** $1.0M – $15M - **Sole investor:** 25 rounds - **Last cheque:** Oct 2026 - **Exits:** 10 from the portfolio Rounds by stage said on their site - Series A said *66* - Venture *40* - Series B said *39* - Seed said *37* - Series C *18* - Growth said *-* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [Creandum](https://millionrounds.com/fund/creandum) 20 - [Index Ventures](https://millionrounds.com/fund/index-ventures) 15 - [Accel](https://millionrounds.com/fund/accel) 11 - [Seedcamp](https://millionrounds.com/fund/seedcamp) 9 - [Y Combinator](https://millionrounds.com/fund/y-combinator) 9 - [Headline](https://millionrounds.com/fund/headline) 8 **Pitching Northzone?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as Northzone. A count of rooms they were both in, not a relationship either has claimed. [**Creandum** VC firm **20** rounds together](https://millionrounds.com/fund/creandum)[**Index Ventures** VC firm **15** rounds together](https://millionrounds.com/fund/index-ventures)[**Accel** VC firm **11** rounds together](https://millionrounds.com/fund/accel)[**Seedcamp** VC firm **9** rounds together](https://millionrounds.com/fund/seedcamp)[**Y Combinator** Accelerator **9** rounds together](https://millionrounds.com/fund/y-combinator)[**Headline** VC firm **8** rounds together](https://millionrounds.com/fund/headline)[**Industrifonden** VC firm **8** rounds together](https://millionrounds.com/fund/industrifonden)[**FJ Labs** VC firm **7** rounds together](https://millionrounds.com/fund/fj-labs)[**Atomico** VC firm **6** rounds together](https://millionrounds.com/fund/atomico)[**Balderton Capital** VC firm **6** rounds together](https://millionrounds.com/fund/balderton-capital)[**Cherry Ventures** VC firm **6** rounds together](https://millionrounds.com/fund/cherry-ventures)[**EQT Ventures** VC firm **6** rounds together](https://millionrounds.com/fund/eqt-ventures) ## Recently backed The latest companies Northzone put money into. [**Tandem Health** $100M · Sept 2026](https://millionrounds.com/company/tandem-health)[**Monumental** $32M · Jul 2026](https://millionrounds.com/company/monumental)[**microagi** $55M · Jul 2026](https://millionrounds.com/company/microagi)[**Einride** $113M · Jun 2026](https://millionrounds.com/company/einride)[**Blitzy** $200M · May 2026](https://millionrounds.com/company/blitzy)[**XBOW** $35M · May 2026](https://millionrounds.com/company/xbow) ## On podcasts 6 episodes naming Northzone in the title, and 4 more that mention it. - [UKTN: The Podcast](https://millionrounds.com/podcasts/uktn) 23 Jun 2025 · 32 min The UK doesn’t have to be Silicon Valley – Elena Pantazi, partner, Northzone Mentions [Northzone](https://millionrounds.com/fund/northzone) Apple PodcastsShow page - [Sourcery](https://millionrounds.com/podcasts/sourcery) 20 Sept 2024 · 51 min Molly Alter, Partner (Northzone), $4B AUM | Software for Hardware, EU vs USA, Vertical AI, VC Biases With [Molly Alter](https://millionrounds.com/person/molly-alter) Mentions [Northzone](https://millionrounds.com/fund/northzone) Apple PodcastsShow page - [Tech.eu](https://millionrounds.com/podcasts/tech-eu) 14 Sept 2020 · 35 min EQT buys Idealista, more money for Mollie and Klarna, and we talk to PJ Pärson of Northzone Mentions [Northzone](https://millionrounds.com/fund/northzone) Apple PodcastsShow page - [Tech.eu](https://millionrounds.com/podcasts/tech-eu) 29 Nov 2019 · 29 min Slush Interview Special: Marta Sjögren (Northzone) and Peter Reinhardt (Segment) With [Peter Reinhardt](https://millionrounds.com/person/peter-reinhardt) Mentions [Northzone](https://millionrounds.com/fund/northzone)[Google](https://millionrounds.com/fund/google-assistant-investments) Apple PodcastsShow page - [Tech.eu](https://millionrounds.com/podcasts/tech-eu) 19 Sept 2016 · 17 min Amazon Echo comes to Europe, Northzone closes €300M fund, interview with Funding Circle and more Mentions [Northzone](https://millionrounds.com/fund/northzone) Apple PodcastsShow page - [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 11 Nov 2015 · 20 min 20 VC 087: From The Investors Of Spotify, TrustPilot and Klarna with Jeppe Zink, General Partner @ Northzone With [Jeppe Zink](https://millionrounds.com/person/jeppe-zink) Mentions [Northzone](https://millionrounds.com/fund/northzone)[Accel](https://millionrounds.com/fund/accel)[Brad Feld](https://millionrounds.com/person/brad-feld) Apple PodcastsShow page ### Mentioned in - [Scaling Europe](https://millionrounds.com/podcasts/scaling-europe) 9 Dec 2025 · 21 min An interview with Michiel Kotting: Early investor into Vinted, Fiverr and Personio Apple PodcastsShow page - [Equity](https://millionrounds.com/podcasts/equity) 26 Dec 2023 · 30 min VCs are entering 2024 with “healthy paranoia” Apple PodcastsShow page - [Tech.eu](https://millionrounds.com/podcasts/tech-eu) 1 Feb 2023 · 33 min A primer on sustainable venture capital investing with Elodie Broad (Balderton) and Kristine Nagle (Your Impact House) Apple PodcastsShow page - [Startup Europe](https://millionrounds.com/podcasts/sifted) 15 Sept 2022 · 28 min Mass layoffs at Cazoo as the company shuts down its EU operations Apple Podcasts ## Quick answers about Northzone ### What does Northzone invest in? Northzone invests most often at Series A and Venture (53% of the rounds on record), in sectors such as Business Automation, Talent and Recruitment. ### How active is Northzone? 240 investments on record, 23 of them in the last 12 months, and it led 11. The most recent was in Oct 2026. ### What has Northzone invested in recently? Its most recent investments on record: Duvo (Series A, Oct 2026), Rayon (Series A, Sept 2026) and Tandem Health (Series B, Sept 2026). ### How big are Northzone's cheques? The median round it joins is $22M. It says it writes cheques of $1.0M to $15M. ### Does Northzone lead rounds? Sometimes: it led 11 of its 240 investments on record (5%). ### Where does Northzone invest? Most of the companies it backs are in the United States (33%), the United Kingdom (15%) and Sweden (13%). ### Is Northzone investing now? Yes: it is actively investing, with 23 investments in the last 12 months. ### Who does Northzone invest alongside? Most often Creandum (20 rounds together), Index Ventures (15 rounds together) and Accel (11 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=northzone) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=northzone)