Notion Capital has raised a $130 million growth fund to address the shortage of growth capital in Europe, particularly for companies seeking follow-on investments.
The fund, Growth Opps III, is nearly double the size of its predecessor and will invest both in and outside of Notion Capital's existing portfolio, focusing on sectors like defense, supply chain logistics, and AI applications.
Notion Capital aims to support European companies in response to decreased investment from U.S. VCs, focusing on the application layer of AI rather than infrastructure.
The firm's strategy involves leveraging its early-stage reach to identify promising companies and offering flexible investment sizes, with recent deals including Upvest, Kraken (Octopus Energy spinoff), and Nelly.
Stephanie Opdam and Jessica Bartos will lead the growth strategy, bringing external expertise to the firm.
The fund, denominated in euros and based in Luxembourg, has secured investments from institutions across Europe, the U.K., MENA, and the U.S., bringing Notion Capital's total assets under management to over $1 billion.