This is great news for the European startup scene. There is often a great deal of breathless excitement when a start-up raises money but of course it is the people putting up the cash - the people investing in the VCs' funds that are really betting on the future success of a sector.
These often anonymous investors are backing the talent in the VC obviously but more broadly they are backing the sector that is being invested in. So it is the most positive possible statement of belief in the future of European B2B SaaS that a big splurge of smart money has been raised in this fund.
Today, I’m delighted to announce the $120m first close of Notion’s third fund. We expect this to exceed $150m at final close later this year. This is our biggest fund yet, and we have big plans for it. But the most important thing will not change: Notion Capital is continuing its mission to identify, invest in and support the best B2B SaaS entrepreneurs in Europe.