While there were rumblings of a market correction and economic downturn, no one was expecting the extent of deceleration that Coronavirus disease 2019 (COVID-19) brought upon the global economy. And as confirmed cases continue to rise, it remains impossible to know how long this new norm will last. The general perspective: prepare for the worst.
At Northzone, we’ve been investing in early-stage ventures for almost 25 years. We are one of the few VCs that have first-hand experience scaling businesses across economic downturns and across cycles of technological disruption — from the dot com boom to the 2008 financial crisis. We sourced and led the first institutional funding into Spotify in 2008 at the heart of the Great Recession, before the company joined the ranks of Instagram, WhatsApp, Dropbox and Slack to become a recession-born unicorn.
We have also raised two of our most recent funds at the height of political uncertainty in Europe. Fundraising aside, these experiences give us a unique perspective on the opportunities to get product/market fit and business fundamentals right in the early stages of an economic cycle, and the areas to prioritize in challenging market conditions. The current situation is no exception to that.
Our global list of country guides for business resources is available below, We are also hosting a virtual event to share learnings from the 2008 economic crisis here.
COVID-19: DE business guidance
COVID-19: DK business guidance
COVID-19: FI business guidance
COVID-19: NL business guidance
COVID-19: NO business guidance
COVID-19: SE business guidance