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Notion Capital closes £256m for fintech and software fund

Notion Capital fintech software fund
Image credit: Notion Capital

London-based VC firm Notion Capital has landed €300m (£256.3m) for its fintech and business software fund.

Bound, DataOps, M3ter and Resistant AI are the first companies to get support from Notion Capital’s fifth fund.

Notion Capital said it will make 20 “Series A+” investments from the fintech and software fund.

Stephen Chandler, managing partner at Notion Capital, said: “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.”

The £256.3m came from a variety of sources including sovereign wealth funds, fund of funds, pension funds, Notion portfolio founders and British Patient Capital.

New Notion investors count Cortes Capital LLC, KfW Capital, Shelby County Tennessee Retirement System and others.

Outside the fund, the venture capital firm has backed CurrencyCloud, GoCardless, Paddle and Yulife.

“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,” adds Chandler.

Notion Capital is planning to launch another “Opportunities Fund” in 2024 to provide follow-on growth capital to its “best performing” assets.

Itxaso del Palacio has been promoted to general partner, with Stephanie Opdam and Kamil Mieczakowski becoming partners.