Notion Capital outs new $80M ‘growth equity’ account to deposit in craving Saas and cloud portfolio

Notion Capital, a London-based VC focussed on craving SaaS and cloud startups, is announcing a series of updates today. This includes a new later-stage follow-on comment for existent portfolio companies, and a final shutting of a third early-stage fund, that now depends Cisco among a series of new U.S-based LPs. The organisation has also done dual inner promotions, with both Chrys Chrysanthou and Patrick Norris creation a step adult to Partner.

Dubbed “Notion Capital Opportunities LP,” a new expansion equity comment is targeting a final tighten of $80 million and will be used by Notion to do later-stage investments — consider Series C and over — in a best behaving companies in a stream portfolio, and in a approach that would not be probable by simply following on out of a existent funds. we know Notion has already lifted 55 per cent of a new fund’s aim size, while a meditative behind a follow-on car is to “augment investment returns” and position a organisation as an even some-more appealing and long-term appropriation partner for a companies and founders it backs.

Notion is also communicating a final tighten of “Notional Capital III LP,” a third early-stage comment during $140 million, $120 million of that had formerly been announced. Notably, new LPs embody Cisco Investments, a try collateral arm of Silicon Valley tech hulk Cisco, as good as dual U.S. university endowments Emory and Texas AM. Ireland’s Key Capital has also invested in a fund.

In a call, Notion Capital Managing Partner Stephen Chandler pronounced a fact that a VC has pulled in U.S.-based LPs for a final shutting of comment 3 is a thoughtfulness of a flourishing seductiveness opposite a pool in European tech startups. This, he said, was in sheer contrariety to a state of play behind in 2009 when Notion Capital was initial started by himself and a dual founders of MessageLabs, after it sole for $700 million to Symantec a year earlier.

Asked about a difficulty other U.K. supports are reportedly carrying closing, since of doubt now that Brexit’s Article 50 has been triggered and in propinquity to Europe’s largest LP, a partly European tax-payer saved European Investment Fund (EIF), Chandler says that this was something he took into comment when actively courting U.S. investors.

Put simply, given Brexit, he wanted Notion to variegate a LPs divided from being so reliant on a EU, and says U.S. LPs now make adult 20 per cent of Notion Capital III’s final closing. Investors in a U.K., including a state-backed British Business Bank accounts for 25 per cent, Middle East investors comment for 25 per cent, and EU investors, such as a EIF and several European family offices, make adult a remaining 30 per cent.

Meanwhile, Chandler says a graduation of Chrysanthou and Norris to full Partner roles is a pointer that Notion itself is sappy along with a in-house talent. Specifically, it signals that a organisation has changed over simply being famous as a European Saas comment founded by ex-MessageLabs operators and owners.

“These developments leave us unusually good positioned for 2017 and beyond, so we feel vehement about what a destiny binds for Notion,” he adds in a statement. “From a start we set out to build a honestly differentiated try collateral organisation that would be tolerable opposite mixed generations. Talent is apparently vicious to that goal so it is quite appreciative to recognize a grant of the dual new partners with these inner promotions.”

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Posted by on May 16 2017. Filed under Startups. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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