Investments
342Portfolio Exits
68Funds
10Partners & Customers
1About Northzone
Northzone is an early-stage venture capital fund partnering with founders at the Seed, Series A, and Series B stages. It invests across Europe and the U.S. Northzone was founded in 1996 and is based in London, England.

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Latest Northzone News
Jun 1, 2023
May 31, 2023 10:13 pm Magic, a Web3 wallet maker based in San Francisco, raised $52 million in a funding round led by PayPal Ventures and joined by prominent investors, including Synchrony, Volt Capital, KX, Northzone, and Cherubic. With the new funding round, Magic’s valuation now stands close to $500 million. Magic Raised Over $80M So Far Web3 wallet developer Magic announced on Wednesday it had bagged $52 million in a strategic funding round led by PayPal Ventures, bringing the project’s total funds raised to more than $80 million and valuing the company at just below $500 million. Other investors participating in the financing round include Cherubic, Synchrony, KX, Northzone, and Volt Capital. Even though the crypto wallet market is quite competitive, Magic has managed to stand out from its competitors by developing a white-label version that enables enterprises to provide wallets en masse to their customers. In other words, the company is on a mission to facilitate Web3 mass adoption by serving as a wallet-as-a-service (WaaS) provider for companies looking for simple ways to lure their clients to Web3. To achieve this, the crypto wallet maker develops an enterprise-grade, low-effort solution that allows Web3 migration, paving the way for lucrative revenue sources such as customer loyalty programs, digital collectibles, membership, and ticketing. The San Francisco-based Web3 firm already collaborates with prominent brands across retail, fashion, and gaming industries, such as Mattel, Xsolla, Macy’s, and Immutable. Magic Seeks to Simplify Web3 Onboarding Magic founder and CEO Sean Li discussed some of the biggest challenges companies face when trying to foray into Web3. To make this easier for them, the wallet maker has been focusing on building Web3 tools that clients can access through Web2-style interfaces, which they are already familiar with, Li told Fortune . “One of the biggest barriers to entry in Web is onboarding. Writing down a seed phrase on a piece of paper is backwards, like burying pirate treasure.” – Sean Li said. Earlier this year, crypto exchange Coinbase also launched a WaaS solution similar to Magic, which aims to facilitate Web3 onboarding. The product allows companies to develop fully customizable Web3 wallets using their apps, which makes the user onboarding process significantly simpler. Over the past year, several non-crypto companies have also unveiled plans to foray into the nascent Web3 world, emphasizing the tremendous potential of its underlying technologies. Some of those companies include SK Telecom , GameStop, and Wall Street giant JPMorgan . This article originally appeared on The Tokenist Sponsored: Find a Qualified Financial Advisor Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now .
Northzone Investments
342 Investments
Northzone has made 342 investments. Their latest investment was in Magic as part of their Series B on May 5, 2023.

Northzone Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
5/31/2023 | Series B | Magic | $52M | No | 8 | |
5/16/2023 | Convertible Note | TIER | No | Goldman Sachs, Mubadala Capital, Northzone, SoftBank , Speedinvest, and Undisclosed Investors | 3 | |
4/19/2023 | Series A | Goals | $20M | No | 3 | |
4/17/2023 | Series A | |||||
4/14/2023 | Series D |
Date | 5/31/2023 | 5/16/2023 | 4/19/2023 | 4/17/2023 | 4/14/2023 |
---|---|---|---|---|---|
Round | Series B | Convertible Note | Series A | Series A | Series D |
Company | Magic | TIER | Goals | ||
Amount | $52M | $20M | |||
New? | No | No | No | ||
Co-Investors | Goldman Sachs, Mubadala Capital, Northzone, SoftBank , Speedinvest, and Undisclosed Investors | ||||
Sources | 8 | 3 | 3 |
Northzone Portfolio Exits
68 Portfolio Exits
Northzone has 68 portfolio exits. Their latest portfolio exit was Fyndiq on February 16, 2023.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
2/16/2023 | Acquired | 1 | |||
12/24/2022 | Asset Sale | Undisclosed Investors | 2 | ||
5/3/2022 | Acquired | 2 | |||
Date | 2/16/2023 | 12/24/2022 | 5/3/2022 | ||
---|---|---|---|---|---|
Exit | Acquired | Asset Sale | Acquired | ||
Companies | |||||
Valuation | |||||
Acquirer | Undisclosed Investors | ||||
Sources | 1 | 2 | 2 |
Northzone Acquisitions
1 Acquisition
Northzone acquired 1 company. Their latest acquisition was EPiServer on August 20, 2007.
Date | Investment Stage | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Total Funding | Note | Sources |
---|---|---|---|---|---|---|
8/20/2007 | Acq - Fin | 1 |
Date | 8/20/2007 |
---|---|
Investment Stage | |
Companies | |
Valuation | |
Total Funding | |
Note | Acq - Fin |
Sources | 1 |
Northzone Fund History
10 Fund Histories
Northzone has 10 funds, including Northzone X.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
9/13/2022 | Northzone X | $1,000.06M | 1 | ||
11/18/2019 | Northzone IX | Early-Stage Venture Capital | Closed | $500M | 3 |
9/5/2016 | NZVIII | Early-Stage Venture Capital | Closed | $335M | 1 |
12/16/2014 | Northzone VII | ||||
4/1/2011 | Northzone VI |
Closing Date | 9/13/2022 | 11/18/2019 | 9/5/2016 | 12/16/2014 | 4/1/2011 |
---|---|---|---|---|---|
Fund | Northzone X | Northzone IX | NZVIII | Northzone VII | Northzone VI |
Fund Type | Early-Stage Venture Capital | Early-Stage Venture Capital | |||
Status | Closed | Closed | |||
Amount | $1,000.06M | $500M | $335M | ||
Sources | 1 | 3 | 1 |
Northzone Partners & Customers
1 Partners and customers
Northzone has 1 strategic partners and customers. Northzone recently partnered with Kriya on September 9, 2015.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
9/3/2015 | Partner | United Kingdom | Northzone extends partnership with leading P2P lender MarketInvoice . | 1 |
Date | 9/3/2015 |
---|---|
Type | Partner |
Business Partner | |
Country | United Kingdom |
News Snippet | Northzone extends partnership with leading P2P lender MarketInvoice . |
Sources | 1 |
Northzone Team
6 Team Members
Northzone has 6 team members, including current Chief Financial Officer, Stine Foss.
Name | Work History | Title | Status |
---|---|---|---|
Stine Foss | Chief Financial Officer | Current | |
Name | Stine Foss | ||||
---|---|---|---|---|---|
Work History | |||||
Title | Chief Financial Officer | ||||
Status | Current |
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