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Notion Capital raises $220m to invest in tech firms

Investment growing
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London-based venture capital firm Notion Capital has raised two new funds, which it will use to invest in tech companies.

The firm’s new $80m (£60m) growth equity fund is called Notion Capital Opportunities LP, and will provide later-stage follow-on capital to its portfolio companies.

Its third venture fund, Notion Capital III LP, closed at $140m and will focus on European enterprise SaaS and Cloud companies at Series A stage.

Reading-based chain automation firm Virtualstock gets $6m

The firm backs software entrepreneurs aiming to “transform global markets”, it says, and has made 45 investments to date.

Notion Capital has invested in several prominent UK startups, including cloud services firm NewVoiceMedia, based in Basingstoke, which Notion described as a “breakout success story”.

The VC has also invested in remittance firm Currencycloud, digital contract-processor Dealflo, and FinTech challenger GoCardless – all based in London.

The new equity fund allows Notion to “put more capital to work in the best performing companies from Notion’s three venture funds,” the firm says.

New investors in the venture capital firm include Cisco Investments, the capital arm of Silicon Valley giant Cisco, as well as the US-based Emory, Texas A&M University Endowments, and the Irish-based Key Capital.

“These developments leave us exceptionally well positioned for 2017 and beyond,” said Stephen Chandler, managing partner at Notion Capital, “so we feel excited about what future holds for Notion.”

The firm is also appointing two new partners, both from internal ranks: Chris Chrysanthou and Patrick Norris.

Commenting on the appointments, Chandler added: “From the start we set out to build a genuinely differentiated venture capital firm that would be sustainable across multiple generations. Talent is obviously critical to that mission, so it is particularly pleasing to recognise the contribution of our two new partners with these internal promotions.”

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