UK’s VC Northzone bags over €1B; announces Thrive Alternatives as sole placement agency for Asia Pacific

London-based Northzone, a venture capital fund and growth company, announced on Wednesday that it has secured an oversubscribed funding exceeding €1B to spend on the next generation of changemakers.

The VC firm claims that it is the largest fundraising effort to date.

Northzone also reports that Singapore-based Thrive Alternatives will serve as its sole placement agency in the Asia Pacific region.

Amit Sanghvi, Head of Investor Relations at Northzone, says, “Thrive Alternatives is a professional placement advisor and did a fantastic job in helping us navigate the Asia Pacific region in a thoughtful and strategic way. We are confident to deliver outperformance for our investors, even under the continued volatile macro environment.”

Assisting investment firms get to the next level

Founded by Gianluca D’Angelo and Jackson Chan, Thrive Alternatives is a tech-enabled GP advisory company with an Asian base that helps in navigating the challenges and possibilities of today’s international private capital markets.

The company claims to provide efficient solutions to GP funding and liquidity requirements by utilising its technology, a 20-year industry network, premier access to the Asian market, and the experience of its veteran team.

Chan says, “This is the first time Northzone has run a formal fundraising campaign in Asia Pacific, and the investors in the region were really impressed by the track record, history, and calibre of the team.”

What sectors will Northzone invest in?

Northzone believes technical innovation will lead to genuine societal development in the face of the global climate crisis and social, financial, and political instability. The firm is relying on entrepreneurs who are building a thoughtful, innovative future as they can thrive in challenging times.

The firm claims it will keep investing in already-established industries like finance, healthtech, SaaS, and consumer. And through this financing cycle, many of the innovators Northzone hasn’t yet met will create their own business category.

“Reflecting on the scale of the opportunity ahead, Northzone will continue to be long-term partners to founders, focusing on opportunities across Europe and the US, from Seed through to IPO,” adds Northzone.

Founded in 1996, the UK-based tech venture capital and growth manager focuses on Europe and US, and is run by seasoned investment partners.

Recently, the firm raised €1B to invest in Seed to growth stages. It has hubs in New York, London and Stockholm, and has backed more than 150 companies, including Spotify, iZettle, Avito, Kahoot!, Hopin, Klarna, and Trustpilot.