Generalist VC Firm Northzone Announced The Launch Of A €1 Billion Fund

Northzone, a venture capital firm with offices in London, today announced the formation of a $1 billion fund focusing on businesses in the cryptocurrency and fintech sectors. The venture capital establishment has funded a broad spectrum of internet businesses, from music streaming service Spotify to fintech companies like open banking expert TrueLayer and buy-now-pay-later behemoth Klarna, and rumors to be studying Web3. The corporation also lists DeFi protocol Gro, Web3 privacy company Sunscreen, and crypto startup Magic Labs among its portfolio companies. Wendy Xiao Schadeck – Partner At Northzone Web3 was referred to as a “key area” for the company by Wendy Xiao Schadeck, a partner at Northzone. According to Xiao Schadeck, the firm has the infrastructure to support businesses through equity investments and token sales and has already taken part in token staking. She said that the company might be willing to invest in a decentralized autonomous organization (DAO) under the appropriate conditions. Contrary Blossom Capital, a rival venture firm based in London, acquired NFTs through its most recent $432 million fund. Including a Bored Ape, a CryptoPunk, and an Azuki, according to founding partner Ophelia Brown, Northzone does not currently have exposure to NFTs. It may, however, change in the future. DeFi Protocols To Be Monitored Xiao Shadeck said that despite some roadblocks DeFi has met, she isn’t discouraged by them. The d...