Doubling in size this time around Notion Capital has announced the close of its Notion Capital V SCSp fund at €300 million. The fund which supports early-stage business software and fintech businesses across Europe was ‘oversubscribed’, meeting its ‘hard cap’. In the past the fund has invested in firms like CurrencyCloud, GoCardless, Paddle and HeyJobs.
Notion Capital puts it success in raising this fund - during this time where some purse strings may need a crow bar to prise them open - down to its ‘extensive Platform team supporting its portfolio companies in areas such as product, go-to-market strategy, talent and pricing’.
This is the fifth renewal of the fund and it was met with some new names in the balance sheet, such as Cortes Capital LLC, KfW Capital, Shelby County Tennessee Retirement System and TNO Pension Funds, with returning LPs including British Patient Capital, Novo Holdings and RSJ as well as other sovereign wealth funds, endowments, fund of funds, pension funds, family offices and high net worth individuals from across Europe, MENA and the United States.
“From our very first meeting, we were impressed with what the Notion team has built. They have deep expertise and insight in European software and a very differentiated proposition for founders. As such we felt they would be a strong addition to our wider portfolio, giving us additional exposure to early stage opportunities in Europe and focused insight into the business software market there,” says Ryan Tidwell, CIO at Cortes Capital LLC.
All three joined the firm in 2018. Spanish-Basque national, del Palacio joined from M12 (Microsoft Ventures) and is academically decorated as a Kauffman Fellow and an Associate Professor in Entrepreneurship at UCL, with a PhD in Entrepreneurship & Venture Capital and a Masters in Engineering. At Notion she led investments firms including Bound, Cledara, Cobee and Yulife.
Dutch national Opdam recently led leading Notion V’s investment in DataOps and Mieczakowski, a Polish national, led the Resistant AI transaction.
“Our team has built a strong brand and reputation, and the demand for Notion Capital V, in a challenging market, is testament to this. Fund V is large enough to provide meaningful funding to its portfolio companies but crucially, small enough to continue to drive the true outsized venture capital returns we seek for our investors. It’s a great point in the cycle to be investing and the European technology ecosystem has proven to be resilient, innovative and highly productive,” says Stephen Chandler, Managing Partner at Notion Capital.
“I am particularly delighted to announce these well-earned promotions, continuing our track record at Notion of promoting Partners from within the firm. We are a diverse team spanning ten European nationalities which gives us extraordinary reach and access across the market," he adds.
Image credit: Notion Capital