Notion Capital has today announced the close of its new $130 million growth fund, Notion Capital Opportunities III
The new fund continues Notion’ strategy of supporting its best performing venture portfolio companies longer on their capital journeys. It also has nearly double the allocation to invest in selected external growth stage companies, where Notion believes they have what it takes to build category-leading outcomes.
As well as its strong operational heritage and deep subject matter expertise in business software, the firm prides itself on its value-added model, with an extensive Platform team supporting its portfolio companies in areas such as product, go-to-market strategy, talent and pricing.
The new fund follows the same proven strategy as its predecessors, where performance has been extremely strong across all metrics. With AI as the platform for the next generation of business software companies, the market has never been more dynamic, with opportunities across four categories:
- Knowledge (SaaS accelerated and compounded by AI),
- Money (fintech and adjacent industries),
- Labour (AI reshaping the services market), and
- Machines (AI interacting with and learning from the physical world).
Notion has invested across all four categories in the past year with demand also increasingly fuelled by European sovereign resilience strategies spanning cyber security, supply chain and defence tech.
The fund has already made several investments including existing venture portfolio companies Aikido, Upvest and Resistant AI plus new investments into Nelly and Kraken Technology Group.
Notion expects to make around a dozen core investments in total from the fund. Like Notion’s most recent venture fund, Growth Opps III is Euro-denominated and Luxembourg-based, reflecting the firm’s pan-European focus.
Notion also announced that Jess Bartos had joined the firm to help drive its growth strategy, Notion’s first-ever external partner hire. An ex-Rothschild investment banker, Jess joins from Salesforce Ventures, where she led or supported numerous investments, including ElevenLabs and Notion portfolio company Protex AI. Jess joins existing Notion partner, Stephanie Opdam, now focused on this fund and strategy.
This is the first time Notion’s growth funds have had dedicated leadership resources, reflecting the firm’s ambition to substantially increase the size and profile of this strategy over the coming cycles.
Stephen Chandler, Managing Partner at Notion Capital, said:
“Whilst the whole team will continue to support activities for this new fund, it is an important milestone to have dedicated resources focussed on it, which is testament to our ambitions for this strategy going forwards. I am delighted to welcome Jess Bartos to our firm where I am confident she has a profound contribution to make.”
Investors in the new fund comprised sovereign wealth funds, fund of funds, pension funds, insurers, family offices and high net worth individuals from across Europe, MENA and the United States. Notion expects to be back in the market with its sixth venture fund in 2026.
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