Notion Capital launches $120m European tech fund

Fund will back Series A rounds in cloud computing and SaaS start-ups, having previously invested in Tradeshift, Shutl and DueDil

London venture capital firm Notion Capital has completed the first close of a new $120m fund dedicated to investing in European technology start-ups at Series A stage.

Marking the firm’s third fund, Notion Capital will now look to increase its investments in cloud computing and Software-as-a-Service (SaaS) companies having already backed over 33 fast-growth businesses in the space including Adbrain, Shutl, DueDil and CurrencyCloud.

Its portfolio also includes NewVoiceMedia and Tradshift, which have together raised over $200m from international investors.

The final close of the fund, which has already been backed by existing and new investors, is expected later this year with a target of $150m, taking the total funds under management  to in excess of $300m which is said to make Notion Capital the largest dedicated B2B SaaS fund in Europe.

Stephen Chandler, Notion Capital managing partner, said of the news:

“Our strategy remains to only invest in what we know and we think this gives us a strong advantage in the market for both evaluating and supporting companies. We aim to identify emerging entrepreneurial talent in Europe and help them build global category leaders.

“There are tremendous opportunities in this part of the world and the market remains undersupplied with high quality capital. This new fund helps us change that.”

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