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Camomile Shumba
Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.
U.K. venture capital firm Northzone has raised a 1 billion euro ($1.01 billion) fund to invest in innovative technology, such as crypto according to a press release on Tuesday.
- The London-based firm will use the money to support crypto and fintech startups, the Block reported. Web3 is a "core sector" for the firm, Wendy Xiao Schadeck, a partner at Northzone told the Block. Web3 refers to the third generation of internet services, driven by blockchain.
- This is not the first time Northzone has looked to invest in crypto. In July 2021, Northzone led a $27 million funding round for Magic numbers, an ethereum-based authentication platform. Around the same time, the company contributed to a $20 million funding round for Livepeer, a decentralized video transcoding platform built on Ethereum.
- Northzone did not immediately respond to CoinDesk's request for further details.
