Northzone

Quick read

Northzone is a multi-stage venture capital firm founded in 1996, with offices in Stockholm, London, New York, Berlin, and Amsterdam. It has backed 250+ companies across seed to growth stages, with landmark early bets on Spotify and Klarna. The firm raised its largest-ever fund — €1 billion — and continues writing checks from first round through IPO.

Key facts

Founded

1996

Employees

40+

Sectors

generalist, fintech, consumer, ai

Website

northzone.com

Investment thesis

Northzone backs technology companies from seed through growth across Europe and the US, acting as a single long-term partner from first check to IPO. The firm concentrates on fintech, consumer, and AI-adjacent software, with a track record anchored by Spotify and Klarna feeding its sourcing network for later-stage deals.

Recent activity

• Jun 2026leadership
  Northzone appointed Sam Endacott as Partner in its London office. He joins from firstminute capital, where he spent over eight years and led seed investments into n8n (now valued at $5.2bn following a SAP-backed round), Storyblok, Stitch, Protex AI, and Unleash. At Northzone he'll focus on seed-to-Series B deals in applied and physical AI, with sector interest in financial services, healthcare, and industrial manufacturing. northzone.com
• May 2026investment
  Northzone participated in Blitzy's Series A, its most recent recorded investment per CB Insights data. cbinsights.com
• Mar 2026investment
  XBOW raised $120M, with Northzone among its backers. XBOW is one of four Northzone AI portfolio companies to reach unicorn status in 2026, alongside Black Forest Labs ($3.3bn valuation), Blitzy, and CuspAI. cbinsights.com
• 2026leadership
  Bruce Jaffe joined Northzone's New York team as a General Partner, focusing on healthcare, devtools, frontier science, industrial deeptech, computational biology, next-gen computing, and physical AI. linkedin.com
• Dec 2025press
  Northzone's year-end data review noted portfolio company Einride has an IPO in the works for 2026. TrueLayer processed over $1bn in payments across the Black Friday weekend, reaching 20 million network users. northzone.com
• Jun 2026leadership
  Northzone hired former Firstminute Capital investor as a Partner to focus on AI ventures, supporting founders from seed to growth across Europe and the US. The new partner previously led Firstminute's seed investment into n8n and backed Storyblok, Stitch, Protex AI, and Unleash. uktech.news
• May 2026investment
  Northzone's latest investment was in Blitzy as part of a Series A, per CB Insights data as of May 5, 2026. The firm has made 10 investments in 2026 to date. cbinsights.com
• Apr 2026investment
  Portfolio company spektr raised a $20M Series A to automate compliance workflows across financial services using AI agents. crunchbase.com
• Feb 2026investment
  AirForestry secured SEK 28M in a pre-commit to its Series A with Northzone participation, and began ramping up engineering hires. tracxn.com
• Feb 2026press
  Northzone published a portrait of portfolio company Stream, a fintech tackling the poverty premium for underserved consumers. northzone.com
• Dec 2025press
  Northzone's 2025 year-in-review highlighted TrueLayer processing over $1 billion in payments across Black Friday weekend, reaching 20 million users. The firm also flagged an Einride IPO in the works for 2026 and described 2025 as one of its most active years. northzone.com
• Oct 2025press
  Portfolio company Fubo completed its business combination with Disney's Hulu + Live TV, creating a combined consumer-focused virtual pay-TV provider. northzone.com

Notable investments

• BlitzySeries AMay 2026cbinsights.com
• XBOWUnknownMar 2026cbinsights.com
• Black Forest LabsUnknown2026linkedin.com
• CuspAIUnknown2026linkedin.com
• spektrSeries AApr 2026crunchbase.com
• JowSeries A extension ($13M)2026linkedin.com
• FinomGrowth2026linkedin.com
• AirForestrySeries A (pre-commit, SEK 28M)Feb 2026tracxn.com
• BlitzySeries B2025tracxn.com
• FinomSeries BFeb 2024growthequityinterviewguide.com
• JowUnknown2024linkedin.com
• spektrUnknown2024linkedin.com

Key people

Named individuals at the firm. We don't expose direct email or phone — use their LinkedIn for outreach.

• Jeppe Zink · Partner
• Michiel Kotting · Partner
• Sanjot Malhi · Partner (Growth)
• Pär-Jörgen Pärson · General Partner
• Jessica Schultz · General Partner
• Wendy Xiao Schadeck · Partner, NYC

Sources

• Northzone – Official Website
• Northzone LinkedIn
• Northzone – Tracxn Profile 2026
• Northzone – CB Insights
• Northzone – VC Sheet Fund Breakdown
• Northzone Team Page
• Meet Sanjot Malhi – Northzone
• https://growthequityinterviewguide.com/firms/northzone
• https://techcrunch.com/2023/07/03/molly-alter-leaving-index-ventures-for-northzone/
• https://www.uktech.news/news/investment-news/northzone-brings-on-firstminute-investor-to-support-ai-ventures-20260601
• https://www.crunchbase.com/organization/northzone-ventures/news_and_analysis
• https://northzone.com/2026/02/18/stream-portrait/
• https://northzone.com/2025/12/17/northzone-uncapped-2025/
• https://northzone.com/spotlight/
• https://northzone.com/insights/firstminute-capitals-sam-endacott-joins-northzone-to-lead-early-stage-ai-investment
• https://www.linkedin.com/in/brucejaffe

Other VCs in Sweden

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• Industrifonden · Multi-stage VC, Stockholm·
• Luminar Ventures · Seed VC, Stockholm·
• Schibsted Ventures · CVC, Stockholm·
• Pale Blue Dot · Seed-stage VC, Sweden

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Globally

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