UK-based venture capital firm Notion Capital has achieved the final close of its £107m ($140m) third fund with the support of Cisco Investments, the strategic investment division of networking equipment manufacturer Cisco.
The respective endowment funds of Emory and Texas A&M universities also provided capital, as did private equity firm Key Capital.
The Notion Capital III fund was launched in 2015 to focus on series A-stage startups based in Europe that are operating in the software-as-a-service and cloud sectors.
The fund’s final close was announced alongside the $80m first close of growth equity fund called Notion Capital Opportunities, which will provide later-stage funding to Notion’s existing portfolio companies.
Notion has also promoted two existing team members, Chrys Chrysanthou and Patrick Norris, to partner positions. The firm closed its first fund at £23m in 2009 and followed it with a £76m second fund in 2012.
Stephen Chandler, managing partner at Notion Capital, said: “These developments leave us exceptionally well positioned for 2017 and beyond, so we feel excited about what the future holds for Notion.
“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.”