"Notion Capital won't invest in the infrastructure layer such as large language models. Instead, the firm sees opportunities in the application layer that will "massively increase" the size of its market, Chandler said. While Notion's flagship fund has historically been known for its strong penchant for SaaS, cloud, and fintech, these will now be AI-infused, and joined by new verticals."
"U.S. VCs that used to fill the growth capital gap currently tend to focus more on their own market, said managing partner Stephen Chandler, noting that "opens up an opportunity for European firms like ourselves to make up some of that difference and be real European champions." Some of the European companies Notion intends to "champion" from its new Growth Opps III fund are tied to the growing demand for more sovereignty, including those specializing in defense and supply chain logistics."
Notion Capital closed a $130 million Growth Opps III fund, nearly twice its previous opportunities fund, to supply follow-on capital and invest outside its portfolio. The firm is positioning itself to fill a gap left by U.S. VCs, targeting companies across Europe with a focus on sovereignty-related sectors such as defense and supply-chain logistics. The fund targets AI-infused application-layer opportunities rather than infrastructure like large language models, expanding the firm's historical SaaS, cloud and fintech focus into new verticals. The firm plans about a dozen investments and has begun deploying capital into portfolio and external companies including Upvest, Kraken and Nelly.
Read at TechCrunch
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