Headquartered in London, Notion Capital is Europe’s leading early-stage investor in B2B SaaS & Cloud companies. Our track record spans over a decade, consistently investing in winners across Europe with at least one unicorn in every fund. We have a clear sector and stage focus: only investing in B2B software companies with a core focus at Series A.
The founding team has worked together for over 25 years as entrepreneurs, operators, and investors, having founded MessageLabs, the largest European SaaS exit of its era. Collectively the Notion team has over 50 years of investing experience, underpinned and informed by 100 years’ experience as operators.
How did you come up with the idea for the firm?
Our two big bets on founding the firm in 2009 were a) that there would be a massive shift in software to the Cloud; and b) that Europe would gain disproportionately from the associated geographical proliferation. Software could now be developed, sold, deployed, and supported from anywhere to anywhere and the reliance on hubs like Silicon Valley was greatly reduced.
With a rich history of design and innovation, plus more software engineers than the US, Europe seemed well positioned to benefit. Given our SaaS heritage, we felt we were the right team to go after this opportunity.
Roll forward the clock and the Cloud is now the preeminent delivery model for software, Europe is outperforming the US on venture returns, and Notion has successfully established itself as the “go to” firm for entrepreneurs who want to build a global category leader in this space.
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How has the firm evolved during the pandemic?
As a firm, we have evolved and adapted to the new world. Like everyone we not only reduced travel and used other tools (though we’re getting back in the travel swing now), but we also tried to really focus down on what was most important and where we could be most impactful.
We actually had the best year ever in 2021 – but it wasn’t always looking that way. Q2 2020 was a scary time for everyone, and we had our fair share of portfolio companies facing existential challenges in their businesses. Added value is absolutely core to our ethos and we have a dedicated Platform team of in-house experts, so we mobilised quickly to support these companies and founders, helping them through what was a torrid time for all. We did our bit, but they deserve all the credit, in most cases emerging from the pandemic stronger and more focused than ever.
What can we hope to see from Notion in the future?
More of the same…but better. Success breeds success and we feel we have the fly wheel really turning now. Our roster of unicorns grows each year, and we see executives in these success stories spinning off to found new businesses.
Notwithstanding recent stock market woes, the attractive fundamentals of the SaaS business models remain unchanged and will continue to create value for investors long into the future. We continue to feel that we are extremely well placed in terms of strategy, brand and funding to capitalise on the opportunities ahead of us.