- Northzone News
- 01 August 2024
- 3 min read
- Words: Northzone
Doubling down on the transatlantic: promoting Molly Alter to Partner in NYC
from left to right: Wendy Xiao and Molly Alter, Northzone Partners in NYC
We are thrilled to announce Molly’s promotion to Partner, marking another significant milestone in our commitment to the New York City ecosystem. As we invest our $1.2 billion funds, spanning Seed to Growth, this underscores our dedication to full-stack investing in the world’s fastest-growing startup hub.
New York has emerged as a dynamic hub for innovation, experiencing a significant influx of talent since we landed in 2015, a couple of years before the Spotify listing on the NYSE. The city’s diverse ecosystem, encompassing media, retail, healthcare, finance, and technology, provides a fertile ground for category-defining companies to flourish.
We’re particularly excited about the opportunities in AI, software, fintech and healthcare, sectors where New York has shown remarkable strength and potential. In our portfolio, to name a few, Spring Health has become the B2B mental health leader, serving over 4,500 organizations including General Mills, Bain, and Instacart, and is valued at $3.3bn. Thirty Madison is continuing to deliver specialised healthcare through their numerous brands and products. Klarna is leading the BNPL wave with 150 million consumers and 500,000 merchant partners globally, and growing in the US faster than in any other market.
New York, New York
Molly joined Northzone last year, bringing with her an impressive track record of 12 investments from her time at Insight Partners and Index Ventures. Her portfolio includes notable successes such as Lightricks, Glia, Tractable, and Frame.io, which she sourced and served on the board of before their $1.2bn sale to Adobe. Since joining our team, Molly has consistently demonstrated her prowess as an investor. Sean Doherty, the founder of GovDash, the leading government contractor AI-enabled platform, says of Molly: “We’re so happy to have Molly on our side, as she genuinely cares about the founders she works with, goes deep to understand the businesses she invests in, and actively works to be helpful when needed. We’re excited to continue building this company together.”
“We’re thrilled to double down on New York with Molly’s promotion to partner. Her investment track record, team-player attitude, and potential to partner with founders at all stages are invaluable as we further strengthen our presence in the US,” adds Jessica Schultz, Partner.
We coin ourselves as a “glocal” investor, and remain fully committed to our multi-local approach, leveraging our presence across key tech hubs including London, Amsterdam, Berlin, Stockholm and New York. This allows us to build diverse talent pools and support founders with global ambitions with an international network of operators, advisors and ecosystem players who understand how to build industry-leading companies.
We’re coming up on a decade in New York, almost three decades as a firm, and are feeling more excited about the opportunity here than we ever have before.
Join us in congratulating Molly and our renewed commitment to New York. We are eager to continue investing in the brightest minds and most innovative ideas emerging from the ecosystem.