Latest fund size
$130M
Announced
October 10, 2025
Global HQ
United Kingdom
Members only
Check size
$5M–$20M
Members only
Stage focus
Series B, Growth (Series C+)
Members only
Regions of investment
Europe
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Notion Capital is one of Europe’s leading venture and growth investors, with over $1bn in assets under management and a track record of more than 150 investments in business software. Founded by former entrepreneurs and operators, the firm positions itself as a value-added partner, providing not only capital but also strategic and operational support through a dedicated Platform team focused on product, GTM, talent, and pricing.
Members only
Names, roles, emails and LinkedIn profiles for the team, plus the fund's website.
The firm’s core thesis is backing business software and fintech companies across Europe.
It sees AI as the next supercycle reshaping software, with opportunities spanning four broad categories: Knowledge (AI-driven SaaS), Money (fintech and adjacent), Labour (AI reshaping services), and Machines (AI interfacing with the physical world).
The fund also targets themes around cybersecurity, supply chain resilience, and defense tech, aligned with European sovereign priorities.
Members only
What the fund looks for in founders and which sectors it backs.
In September 2025, Notion closed its third dedicated growth vehicle, Notion Capital Opportunities III SCSp, at $130M, nearly 50% larger than its predecessor. This fund complements Notion’s 5th venture fund (€300M) and provides follow-on firepower for its top venture portfolio companies, while also allocating significant capital for selective external growth-stage investments.
The fund is Luxembourg-based and Euro-denominated, with backing from sovereign wealth funds, funds of funds, pension funds, insurers, family offices, and HNWIs across Europe, MENA, and the US.
Members only
Fund size, LPs and track record.
Leadership
The new growth fund introduces dedicated leadership, with Jess Bartos, new Partner hire from Salesforce Ventures (previously at Rothschild), who brings deep B2B SaaS expertise and a strong track record in AI-related investments, and Stephanie Opdam, existing Partner at Notion, now fully dedicated to growth investing.
They join the broader Notion partnership, led by Managing Partner Stephen Chandler, with the ambition to expand the size and profile of the growth strategy in coming cycles.
Investment Strategy
Growth Opps III follows Notion’s “venture winners + selective external” model. Roughly half of the capital is earmarked for existing portfolio companies that are scaling fast, while the other half will be used for new external growth deals where Notion believes it can help create category leaders.
The Platform team and AI-powered sourcing capabilities are positioned as differentiators to access top opportunities.
Notable Investments
So far, the fund has backed both venture portfolio scale-ups and new external companies:
Notable Exits
Across its history, Notion has produced successful outcomes including:
Other
Notion Capital is known as a hands-on, founder-first investor with strong operational DNA.
Its pan-European presence (spanning 12 nationalities across the team) and growing reputation in AI-driven software make it a top choice for B2B software founders aiming to build category leaders in Europe.
Members only
Leadership, investment strategy, notable investments and exits.
