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Notion Capital closes $130M growth fund

Tuesday, September 30, 2025
Opalesque Industry Update - Notion Capital, one of Europe's top investors in venture and growth-stage business software companies, has just closed its third growth fund at $130 million, a 50% jump over its last raise. The London-based firm is doubling down on the booming AI-driven software and fintech space as the region's tech scene heats up.

This new Growth Opportunities III fund works alongside Notion's €300 million flagship venture fund, letting the firm back its best-performing startups for longer and bet on promising new growth-stage companies earlier. Notion's belief: if you spot future category leaders now, you can help them scale faster.

A key change this time around is Notion's focus on dedicated leadership for growth investing. Jess Bartos, who joins from Salesforce Ventures with heavy AI and B2B expertise, is its first-ever external partner hire. Alongside Stephanie Opdam, an existing partner now entirely focused on growth-stage deals, the pair will advance the firm's growth strategy.

Stephen Chandler, Managing Partner at Notion Capital, said: Our team has built a strong brand and reputation, and LP demand for the fund in a challenging fundraising environment is testament to this. We are a diverse team spanning 12 nationalities, which gives us extraordinary reach and access across the market, with AI driving huge innovation in the software landscape. Whilst the whole team will continue to support activities for this new fund, it is an important milestone to have dedicated resources focused on it, which is a testament to our ambitions for this strategy going forward."

Notion combines traditional hands-on support, helping portfolio companies with product, go-to-market, talent, and pricing strategies, with advanced AI-powered sourcing tools to track and prioritise investment opportunities. The firm categorises its AI bets in four key areas: Knowledge (AI-enhanced SaaS), Money (fintech and related industries), Labour (new AI-driven services), and Machines (AI interacting with the physical world).

The fund has already backed existing portfolio favourites like Aikido, Upvest, and Resistant AI, as well as newcomers Nelly and Kraken Technology Group. Notion aims to make around a dozen core investments from this fund.

With more than 150 companies across Europe, including those in the UK, Germany, Spain, and beyond, Notion aims to deepen its impact on the continent's rapidly evolving software ecosystem. The firm is also gearing up to launch its sixth venture fund in 2026.

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