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Northzone
Venture capital firm · Founded 1996 · Active in 2026
Northzone is a venture capital firm based in UK, founded in 1996. The page below shows 32 Power Law outcomes from Northzone's portfolio — 19 unicorns ($1B+ valuation) and 9 additional thoroughbreds (companies that crossed $100M+ in revenue without yet reaching $1B+ valuation).
Outcomes are concentrated in eCommerce & Marketplaces · Other B2B Software · Fintech; top portfolio geographies are Sweden · Germany · USA. Northzone ranks #224 in Global in the 2026 Dealroom Power Law Investor Ranking by cross-stage outcomes.
Northzone’s biggest exits.
Northzone portfolio companies worth $1B+ that have IPO’d or been acquired. Each shows its valuation at exit and, in grey, its current value if still public.
Northzone’s selected top holdings.
An estimate of Northzone’s largest live positions — disclosed shareholding × Dealroom’s latest valuation — across 5 companies where Northzone is a named shareholder, worth about $1.1B in estimated equity value.
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1
Personio
8.5%
$5.0B
$425M
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2
Spring Health
11%
$3.3B
$363M
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3
Forto
10.5%
$2.1B
$220M
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4
Noda
15.74%
$450M
$71M
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5
Flink
7%
$900M
$63M
Estimated value = Northzone’s disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. Northzone also appears inside investor groups in Black Forest Labs, Zopa, where a standalone stake isn’t disclosed. See the underlying cap tables on Dealroom →
The 32 Northzone Power Law outcomes ($100M+ revenue or $1B+ valuation).
Snapshot of where the outcomes are concentrated by country, sector, and stage entered.
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Sweden9
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Germany6
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USA5
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Norway2
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Italy1
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UK1
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Spain1
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Switzerland1
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Türkiye1
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Russia1
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Denmark1
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Netherlands1
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eCommerce & Marketplaces9
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Other B2B Software5
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Fintech4
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Marketing4
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Other2
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Transportation2
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Health Tech & Medtech2
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Cybersecurity2
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Edtech1
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AI1
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Series B+15
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Series A13
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Seed1
Northzone's 32 Power Law outcomes.
How does Northzone stack up?
Northzone in orange, your selection in blue and other colours. Pick from the global roster of 34 peer investors — scope by startup location or hit "Find similar shapes" to auto-pick the three closest. The funnel matrix mirrors the spider chart on the ranking page; the line chart shows each firm's share of unicorns minted in the selected startup location — peaks reveal vintage years.
Share of new unicorns per year
% of global unicorns minted that year, year by year · hover the chart to see which unicornsStage focus
Companies by entry stage and outcome tierSector focus
Companies per investor across the 10 highest-volume sectorsWhere Northzone's portfolio founders come from — and where they studied.
91 founders across the 32 Power Law outcomes — split by country of origin, university attended, and the company they worked at before founding. Technical University Munich and Microsoft are the deepest single pipelines.
Key people at Northzone.
Market sentiment
What the market is saying about Northzone
An AI-synthesized read of the highest-engagement posts about Northzone on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
In the news
Latest news about Northzone
Recent press, funding announcements, and portfolio moves mentioning Northzone — pulled live from Dealroom's news feed.
Want the full picture on Northzone?
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