Notion to back cloud firms with $150m investment fund

Investment specialist Notion Capital has unveiled plans to invest up to $150m in cloud computing and Software as a service (SaaS) companies in the UK and Europe. The venture capitalist has already invested $50m in 10 firms so far, including Brightpearl, eSellerpro and Star, and is looking to triple


Investment specialist Notion Capital has unveiled plans to invest up to $150m in cloud computing and Software as a service (SaaS) companies in the UK and Europe.

The venture capitalist has already invested $50m in 10 firms so far, including Brightpearl, eSellerpro and Star, and is looking to triple the size of the commitment with an investment pot backed by the UK government under the enterprise capital fund programme.

The team at Notion include some of those involved with establishing MessageLabs and selling that business on to Symantec for $700m.

Stephen Chandler, managing partner and co-founder at Notion Capital, said that it would be looking to invest in cloud computing and SaaS because it understood those markets.

"We aim to identify and support European companies that can become global leaders and generate exits that can be measured in hundreds of millions. We have a bias towards Europe because we believe there are tremendous opportunities here and the market is under-supplied with high quality funds," he said.

"Although it has been one of the most challenging environments to raise a fund in living memory, there are a good number of people out there who recognise the opportunity and the work Notion has done with companies so far," he added.

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