# Notion Capital Launches $130M Growth Fund to Fill European Capital Gap
The lack of growth capital in Europe remains a significant challenge, prompting some early-stage firms to address the issue directly. London-headquartered Notion Capital is among them.
In 2017,Notion Capital was a pioneer in europe,closing an opportunities fund to provide follow-on capital to its portfolio companies. now, the firm has closed a $130 million growth fund – nearly double the size of its previous one – that will also invest outside of its existing portfolio, as TechCrunch learned exclusively.
Managing partner Stephen Chandler explained that U.S. VCs, who previously helped fill the growth capital gap, are now increasingly focused on their domestic market. This “opens up an chance for European firms like ourselves to make up some of that difference and be real European champions.”
Notion Capital intends to “champion” European companies with its new growth Opps III fund, particularly those benefiting from the growing demand for sovereignty, including firms specializing in defence and supply chain logistics. The firm is also drawn to AI, which Chandler views as a “super cycle” driving “a profound shift in the way that software is delivered and consumed.”
While Notion Capital won’t invest in the infrastructure layer, such as large language models, it sees opportunities in the application layer, anticipating a “massively increase” in market size. Historically focused on SaaS,cloud,and fintech,Notion will now infuse these areas with AI and expand into new verticals.
The firm plans to make a dozen investments and has already begun deploying capital. To date, deals include Upvest, a stock trading API from its early-stage portfolio, as well as external companies like Kraken, which manufactures dual-use unmanned surface vessels, and Nelly, a startup developing software and financial products for the medical sector.
To ensure “robust objectivity,” follow-on deals will be managed by dedicated growth fund partners who will also actively seek growth-stage opportunities outside the portfolio.
Existing Notion Capital partner Stephanie Opdam will lead this growth initiative.
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