# Notion Capital

Notion Capital is a Private Equity based in London, United Kingdom.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** London, United Kingdom
- **Region:** Europe
- **Address:** London, United Kingdom
- **Founded:** 2009
- **Assets under management:** Undisclosed
- **Website:** notion.vc
- **LinkedIn:** https://www.linkedin.com/company/notion-capital
- **Wikidata:** Q16959190

## Regulatory record

- **CRD number:** 301084
- **SEC file number:** 802-117151
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/301084

## About

Notion Capital is Europe’s leading early-stage business software investor. They are a team of former entrepreneurs and operators who invest in European business software companies. They lead at an early stage, building strong relationships over the long term, and provide a platform of portfolio resources including events, content, networks and expertise.

## Sectors

- Enterprise Software
- FinTech
- AI/ML
- Mobility & Transportation
- Cybersecurity

## People

- Stephen Chandler — Managing Partner
- Jos White — Managing Partner
- Chris Tottman — Managing Partner
- Patrick Norris — Managing Partner

## Questions

### Who runs investment decisions at Notion Capital?

Investment decisions are led by the managing partner group, which includes Stephen Chandler, Jos White, Chris Tottman, and Patrick Norris. Each brings founder or senior operator experience from the business software sector, and the team works alongside a broader group of investment professionals and experts in residence.

### How does Notion Capital source proprietary deal flow?

The firm sources opportunities through the networks of its founding team and operating platform, leaning on relationships built as former software entrepreneurs. Its portfolio community and dedicated platform resources — including networks, events, and experts in residence — provide additional visibility into emerging European software companies.

### Does Notion Capital participate in fund commitments or only direct deals?

Notion Capital invests primarily through direct equity deals in early-stage companies, leading seed and growth rounds. While its core model is direct investment, the firm's portfolio includes exposure achieved via direct positions rather than through an explicit fund-of-funds program.

### What investment stages does Notion Capital typically target?

The firm focuses on early-stage investments, targeting companies from seed stage through later growth rounds. It identifies three critical phases — Start, Build, and Scale — and aims to take companies from roughly $1 million to $100 million in revenue over the course of the partnership.

### Which sectors does Notion Capital explicitly avoid?

Notion Capital concentrates exclusively on business software and avoids sectors outside its core expertise such as consumer internet, hard biotech, and heavy industrials. Within business software, it segments the market into Software as a Service, services-as-software, software in the physical world, and fintech.

### How is the platform team separated from the investment team at Notion Capital?

The firm maintains a distinct platform team, led by Stephen Millard, that operates alongside the investment team to provide founder networks, events, content, and scaling expertise. This structure separates deal sourcing and portfolio management from the operational support function, allowing each to specialize while remaining tightly coordinated.

## Related profiles

- [Not Boring Capital](https://altss.com/profile/not-boring-capital)
- [Notley Ventures](https://altss.com/profile/notley-ventures)

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Last updated: 2026-08-11T15:07:34.613Z

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