Rabo Frontier Ventures, the corporate venture capital arm of financial services firm Rabobank, has invested in a $500m fund that has been closed by UK-based VC firm Northzone.
The vehicle’s other limited partners include unnamed contributors to Northzone’s earlier funds as well as undisclosed new investors. Northzone has now raised €1.5bn ($1.7bn) across nine funds since it was founded in 1996.
Northzone IX is primarily concentrating on series A and B rounds but will also take part in a limited number of seed deals, targeting consumer and business-facing startups in areas like financial services, healthcare, education, mobility and construction.
The vehicle already has three portfolio companies: live entertainment marketing platform Pollen, property development software business Spacemaker and decentralised livestreaming portal Livepeer.