Notion Capital has launched its third fund which will focus on emerging European cloud computing and software-as-a-service companies.
Currently standing at $120m and expected to close is expected later this year at a $150m this fund takes the total funds under management at Notion to in excess of $300m.
In two previous funds, Notion has now invested in 33 companies, including some of the most exciting and fastest growing in Europe. That includes breakout success stories like NewVoiceMedia and Tradeshift, who have together raised over $200m from leading international growth investors. It also includes major European exits such as Shutl, to Ebay and Star, to Claranet.
At the same time, its portfolio includes many of most exciting and high potential SaaS companies, including Adbrain, Brightpearl, Currency Cloud, Duedil, IOCS and MOVE Guides.
The new fund is backed by existing and new investors at multiple institutions as well as family offices and high net worth individuals, including several world-renowned technology entrepreneurs. It also continues to be supported by the European Investment Fund and British Business Bank, extending their on-going partnership with Notion in helping entrepreneurs in Europe build global, category leading, SaaS businesses
Stephen Chandler, managing partner at Notion Capital, said: “Our strategy remains to only invest in what we know and we think this gives us a strong advantage in the market for both evaluating and supporting companies.
“We aim to identify emerging entrepreneurial talent in Europe and help them build global category leaders. There are tremendous opportunities in this part of the world and the market remains undersupplied with high quality capital. This new fund helps us change that.”
As Notion’s portfolio grows, so has the team and its experience. Chrys Chrysanthou, already an executive-in-residence at the firm, moves to a full time role for Fund III as a Principal in the investment team. Chrys brings with him a wealth of experience from Cisco, Amazon Web Services and Accel Partners, across USA, EMEA and Asia, with roles including M&A, venture investing, angel investing, mentoring, ecosystem development and startup operating roles.
Adam Shepherd and Dan O’Toole have also joined as Associates with deep expertise and experience in their respective fields.