December 16, 2014 / 8:00 AM / 5 years ago

Nordic venture capital firm Northzone closes 250 mln euro fund

STOCKHOLM, Dec 16 (Reuters) - Nordic venture capital firm Northzone said on Tuesday it had raised 250 million euros ($311 million) for its seventh fund, one of the bigger early-stage venture funds raised this year globally.

Northzone said the fund would help it continue to expand, supporting its portfolio companies internationally as well as looking for new investment opportunities across the world.

“A fund of this size enables us to support the most ambitious entrepreneurs in reaching their potential on a global basis, regardless of stage or geography,” Northzone partner Par-Jorgen Parson said in a statement.

Northzone’s portfolio includes stakes in Swedish music streamer Spotify, mobile payments firm iZettle as well as Russian online classifieds company Avito.

The firm, founded in 1996, has been expanding from its Nordic roots in recent years, opening up offices in London and New York. Parson told Reuters that financial technology (fintech) startups was a focus area for investments ahead.

“We have made three fintech investments in a short time period, and we believe it will be a big theme not only for us, but also for many other venture capital players in the coming years,” Parson said. ($1 = 0.8028 euros) (Reporting by Johannes Hellstrom; editing by Niklas Pollard)

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