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May 16, 2017

Notion closes $140m third venture fund, launches $80m opportunities fund and announces two new partners

Notion Capital, Europe’s leading venture capital firm focused on enterprise SaaS and Cloud companies, today announces a number of important milestones for the firm.

Firstly it has completed the first close of a new $80m (£60m) growth equity fund, Notion Capital Opportunities LP, to provide later stage follow-on capital to its venture portfolio.  One of the first of its kind in Europe, this fund enables the firm to put more capital to work in the best performing companies from Notion’s three venture funds. These later-stage ‘follow-on’ investments will augment investment returns and position the firm as an even better long-term funding partner for the companies and founders it backs.

Notion is also announcing the $140m (£107m) final close of Notion Capital III LP, its third venture fund focused on European enterprise SaaS and Cloud companies at Series A stage.  New LP investors include Cisco Investments, the venture capital arm of Silicon Valley tech giant Cisco, as well as globally-diverse and respected financial investors such as Emory and Texas A&M university endowments (US) and Key Capital (Ireland). The fund exceeded its target with Notion consolidating its position as Europe’s leading (and largest) dedicated B2B SaaS investor with c.$300m assets under management.

The firm backs exceptional enterprise software entrepreneurs who have what it takes to transform large, global markets and has made 45 investments to date. These include breakout success stories like NewVoiceMedia and Tradeshift, who have together raised over $300m from leading international growth investors. With several major European exits behind them, including Shutl to Ebay, Star to Claranet, Trustev to TransUnion and Wercker to Oracle, Notion has backed some of Europe’s most exciting and high potential SaaS companies, including Currencycloud, Dealflo, DemystData, GoCardless, MOVE Guides, TripTease & Workable.

These companies chose Notion Capital for its laser focus, experience and value-add. The partners are best known for founding and building MessageLabs, one of the largest SaaS exits globally at its $700m sale to Symantec in 2008. On top of that, working closely with all of its portfolio companies, the firm has developed the Notion Platform, a unique SaaS-focused capability and ecosystem designed to help our companies fulfill their potential.

Finally Notion is pleased to announce the appointment of two new partners, Chrys Chrysanthou and Patrick Norris, both internal promotions. Chrys brings a wealth of experience from Cisco, Amazon Web Services and Accel Partners, across the USA, EMEA and Asia, with roles including M&A, venture investing, angel investing, mentoring, ecosystem development and startup operating roles. Patrick was the co-founder of three start-ups across three different industries as well as an experienced investment banker (ex Morgan Stanley) and technology private equity professional.

Stephen Chandler, Managing Partner at Notion Capital commented on the news:

“These developments leave us exceptionally well positioned for 2017 and beyond, so we feel excited about what the future holds for Notion. 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.”

ENDS

For further information, please contact:

Kate Hyslop at khyslop@notioncapital.com / 07795 260286

About Notion Capital:

Notion is a venture capital firm focused on high-potential businesses in the Cloud Computing and Software-as-as-Service (SaaS) markets. The Notion team has unique expertise and experience in the Cloud Computing market having founded, built and exited two highly successful businesses in the space – Star and MessageLabs. For more information go to: www.notioncapital.com

Disclaimers:

None of the Notion funds referred to herein is open to investment from members of the general public. Past performance is not an indicator of future performance and the value of investments can go up as well as down.

Notion Capital is a trading name of The Fund Incubator Limited – registered in Scotland Co No SC21868. MBM COMMERCIAL, 5th Floor 125 Princes Street, Edinburgh, Scotland, EH2 4AD. Authorised and Regulated by the Financial Conduct Authority.

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