Fintech investor Notion Capital closes “oversubscribed” €300m fund

GoCardless and Griffin VC investor Notion Capital has closed an “oversubscribed” €300m fund, and says investing in European tech is “resilient” and “highly productive”.

In its fifth investment fund, Notion Capital has already invested in Czech-based AI startup Resistant AI and UK data startup M3ter and says it expects to make around 20 Series A+ investments.

It says the €300m fund is nearly double the size of its last fundraise.

Since its inception in 2009, the fintech and early-stage SaaS investor has invested in more than 100 early-stage business software firms and fintechs across Europe, including CurrencyCloud, GoCardless, Paddle and Yulife in the UK, HeyJobs and Upvest in Germany and Cobee in Spain.

Investors in the new fund were made up of wealth funds, endowments, pension funds, family offices and high net worth individuals from across Europe, MENA and the United States.

Stephen Chandler, managing partner, 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.

“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.”

UK-headquartered Notion Capital has also announced several appointments with Itxaso del Palacio, a former Microsoft executive, moving to general partner and Stephanie Opdam and Kamil Mieczakowski to partner.