November 27, 2023
ZURICH – 27 November 2023 – qashqade - the leading technology provider for streamlining the calculation, allocation, tracking and reporting processes for private markets – are pleased to announce that multi-stage venture capital fund Northzone has chosen qashqade to automate their fund distribution waterfalls and improve reporting.
An established venture capital fund that was founded in 1996, Northzone’s investment portfolio includes well-known brands such as Spotify, Klarna and Trustpilot.
Like many VCs, Northzone were struggling with manual processes for distribution calculations for their various funds, each with varying levels of reporting complexity. As big investors in technology, Northzone are no strangers to seeing the benefits of SaaS automation and regaining valuable time to focus on their core business. qashqade could offer the flexibility to cater with the complexity of Northzone’s challenges around GP carry, cashflow and investor reporting on a per fund basis.
Jackson Heddy, CFO at Northzone said: “We were referred to qashqade by a fund manager who uses the solution, and what helped us decide was qashqade’s deep understanding of the issues we faced and the flexibility they could offer to give us a solution”.
Oliver Freigang, CEO at qashqade added: “We’re thrilled that a VC with a reputation such as Northzone has joined our growing client base. As they grow and the complexity of their investments grows, we can offer them that flexibility to adapt, giving them peace of mind and allowing them to focus on their core business.”
Northzone (northzone.com) is a global venture capital fund built on experience spanning multiple economic and disruptive technology cycles. Founded in 1996, Northzone has raised more than ten funds to date, with its most recent fundraise in excess of €1 billion and has invested in more than 150 companies, including category-defining businesses such as Trustpilot, Spotify, Klarna, Tier, iZettle, Kahoot!, Personio, TrueLayer, Spring Health, Zopa and Flink. Northzone is a full-stack investor from Seed to Growth stage, with transatlantic hubs out of London, New York, Amsterdam, Berlin, Stockholm and Oslo.
Founded in 2018, qashqade provides private market organizations an enterprise product suite for streamlining their calculation, allocation, tracking and reporting processes. Built by private markets experts, for private markets experts, the qashqade platform offers a flexible, modular based solution for fund managers, fund administrators and investors alike, and is asset-class agnostic.
Headquartered in Zürich, qashqade also has offices in New York, London, and Budapest. Visit qashqade.com for more info.