Venture Firm Northzone Eyes Web3 Startups with New €1 Billion Fund

Venture firm Northzone eyes web3 startups with new €1 billion fund. Wendy Xiao Schadeck, a partner at Northzone, described Web3 as a "core sector" for the firm. "Web3 and Web2 two will likely start to converge in this fund cycle's lifetime," she said in an interview. "For instance, some of the Web2 fintech companies in our last fund have launched tokens and some of our gaming companies have decided to base their follow-on rounds from Web3 VCs — so it's really hard to say exactly where the delineation will be." It has previously backed tech startups such as Klarna and Spotify, as well as Web3 outfits like Magic Labs, Gro Protocol, and Sunscreen.