There will be life after Brexit, as specialist investment firm Notion Capital has demonstrated this week. Notion Capital is a venture capital firm that focusses on enterprise SaaS (software as a service) and cloud start-ups.
It deliberately set out to attract US investors to Notion Capital III LP, its third early-stage venture fund.
Said managing partner Stephen Chandler in a posting on the firm's website: “Our conviction about the European opportunity and our belief in its tech ecosystem is greater today than it has ever been.
“It is particularly pleasing to see prominent US names join the roster of our LPs (limited partners, or, in plain English, investors) in this fund, names like Cisco, Emory and Texas A&M,”
US names to compensate for EIF loss
The theory is that increased investment by US names will help compensate for the loss of investment by the European Investment Fund once the UK finally leaves the European Union.
Chandler addressed the issue in the wake of the closing of the firm's third fund at US$140m (£107m). He also reported a first close of a new $80m (£60m) Opportunities Fund for additional follow-on capital into its best and brightest portfolio companies at the growth equity stage.
“Together these more than double our resources to support exceptional enterprise software entrepreneurs and cement our position as the leading (and largest) dedicated B2B SaaS fund in Europe,” he said.
“All our partners have first-hand experience of what it takes to found, build and exit a technology business,” said Chandler. We know how hard it is and have a deep-seated respect and empathy for our founders as a consequence.”
Notion Capital has been invited to comment directly.
The Cloud, which sits at the very heart of its investment thesis, means that great entrepreneurs (of which there are many in Europe!) can develop, deploy, sell and support their product globally in ways that were simply not possible a decade ago, it said.