The British Enterprise Financial institution has introduced a €20m (£17.5m) dedication to the £98.6m Notion Capital Alternatives III fund.
The brand new fund from the GoCardless investor marks the most recent help from Notion Capital’s long-term accomplice, the British Enterprise Financial institution, which has invested the agency’s final 4 core enterprise funds.
The most recent fund from the fintech and SaaS investor will present extra capital to the so-called ‘winners’ of earlier enterprise funds.
Notion Capital Alternatives III will again each present portfolio corporations which have demonstrated success and excessive progress charges, in addition to a handful of recent exterior offers.
The fund will give attention to corporations within the UK and Europe and can proceed the investor’s targetting of enterprise software program corporations and fintechs.
“I’m delighted to announce this, our newest, progress fund. Our staff has constructed a powerful model and popularity, and LP demand for the fund in a difficult fundraising surroundings is testomony to this,” mentioned Notion Capital managing accomplice Stephen Chandler (Pictured).
“We’re a various staff spanning 12 nationalities which supplies us extraordinary attain and entry throughout the market with AI driving large innovation within the software program panorama.”
The fund has already made a number of investments, together with in present enterprise portfolio firm Upvest and newly backed power tech agency Kraken.
“Funds like Notion’s are crucial to the UK enterprise panorama. Whereas we’re excellent at funding startups within the UK, there’s a distinct lack of funding accessible in relation to progress stage corporations,” mentioned Christine Hockley, managing director and co-head of funds on the British Enterprise Financial institution.
“The quantity of capital acquired by US corporations within the fifth or sixth funding spherical is commonly greater than double what UK corporations increase. Our aim is to shut that hole and be sure that excessive potential corporations can entry the capital they should broaden.”
