London-based VC Notion Capital raised 2 new funds that total £167 million

GoCardlessGoCardlessThe GoCardless team.

Notion Capital, a London-based venture capital firm that backs startups across Europe, has raised two new funds that are collectively worth £167 million.

The VC, which focuses on backing enterprise software and cloud companies, announced on Tuesday that it has closed a new $US80 million (£60 million) growth equity fund to back later stage startups with, and a $US140 million (£107 million) venture fund to back early stage startups.

Notion also announced that it has promoted ex-Amazon exec Chrys Chrysanthou and ex-Morgan Stanley banker Patrick Norris to partner level.

“These developments leave us exceptionally well positioned for 2017 and beyond, so we feel excited about what the future holds for Notion,” said Notion Capital managing partner Stephen Chandler in a statement.

“From the start we set out to build a genuinely differentiated venture capital firm that would be sustainable across multiple generations. Talent is obviously critical to that mission so it is particularly pleasing to recognise the contribution of our two new partners with these internal promotions.”

Notion Capital has had a number of successful exits, including Shutl to Ebay, Star to Claranet, Trustev to TransUnion, and Wercker to Oracle. It has also invested in the likes of London fintech startups Currencycloud and GoCardless, as well as travel startups like MOVE Guides, and TripTease.

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