# Notion Capital: portfolio, investments and team

> Notion Capital is a vc firm based in United Kingdom. 202 investments on record, 23 in the last 12 months, latest Oct 2026.

Source: https://millionrounds.com/fund/notion-capital (Millionrounds; every figure on the page links to its filing or article)

United Kingdom · [Investor](https://millionrounds.com/investors)

# Notion Capital

Last cheque observed Oct 2026; 202 cheques on record.

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Deploying now New fund $336M, Mar 2026 VC firm

Pre-seed Seed Series A Middleware Cloud Computing Cloud Infrastructure

Follow Notion Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fnotion-capital)

Deploying now

**57%** of best year **23** **cheques in 12 months**, 202 on record

Since the last cheque **4** days **00** hrs **00** min **00** sec

Median round **$9.2M** Cheque size, as they say **$10M – $10M** Rounds led **10 of 202** Sole investor **19 rounds** Exits **2 from the portfolio** Mostly in **United Kingdom, 46%**

Pitch Notion Capital

## Notion Capital highlights

- 01 23 cheques in the last 12 months
- 02 Mostly Series A and Seed: 59% of its rounds
- 03 Sole investor in 19 rounds, median $2.5M
- 04 2 exits from the portfolio

## What they do

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $10M – $10M as they say
- **Stages:** Pre-seed Seed Series A Series B Growth
- **Sectors:** Middleware Cloud Computing Cloud Infrastructure
- **Based in:** London, United Kingdom
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **202 appearances**

- **2026** 20 rounds
- **Oct** **[Easol](https://millionrounds.com/company/easol)** Series A · GB · Digital Music News **$30M** With 6 others
- **Oct** **[Enact Intelligence](https://millionrounds.com/company/enact-intelligence)** Pre-seed · CH · Google News search **$30M** With 11 others
- **Oct** **[Scarlet](https://millionrounds.com/company/scarlet)** Series B · GB · Tech.eu **$50M** With 5 others
- **Aug** **[Twin1 AI](https://millionrounds.com/company/twin1-ai)** Seed · US · TechStartups **$20M** With 19 others
- **Aug** **[Kraken Technology](https://millionrounds.com/company/kraken-technology)** Series B · GB · Ventureburn **$175M** With 13 others
- **Aug** **[Flip](https://millionrounds.com/company/flip)** Venture · US **$25M** With 3 others
- **Jun** **[Endra](https://millionrounds.com/company/endra)** Series A · SE · Ventureburn **$50M** With 2 others
- **May** **[Pivot](https://millionrounds.com/company/pivot)** Series B · Ventureburn **$40M** *Led*
- **May** **[OpenTrade](https://millionrounds.com/company/opentrade)** Series A · US · Ventureburn **$17M** *Led*
- **Apr** **[Dex](https://millionrounds.com/company/dex)** Seed · US **$5.3M** With 3 others
- **Apr** **[Vortexa](https://millionrounds.com/company/vortexa)** Debt · GB **$50M** With 5 others
- **Mar** **[Origin](https://millionrounds.com/company/origin)** Series A · GB · Ventureburn **$30M** *Led*
- **Mar** **[Isembard](https://millionrounds.com/company/isembard)** Series A · GB · Ventureburn **$50M** With 7 others
- **Mar** **[Keith](https://millionrounds.com/company/keith)** Seed · GB **$2.7M** With 2 others
- **Mar** **[NodeShift](https://millionrounds.com/company/nodeshift)** Venture · US **Undisclosed** With 2 others
- **Feb** **[Naboo](https://millionrounds.com/company/naboo)** Series B · FR · Ventureburn **$70M** With 5 others
- **Feb** **[Incard](https://millionrounds.com/company/incard)** Series A · GB · Smartfin **$13M** With 4 others
- **Feb** **[Bound](https://millionrounds.com/company/bound)** Series A · GB **$25M** With 4 others
- **Feb** **[Refute](https://millionrounds.com/company/refute)** Seed · GB **$6.8M** With 2 others
- **Jan** **[Aikido](https://millionrounds.com/company/aikido)** Series B · BE · TechStartups **$60M** With 4 others
- **2025** 39 rounds
- **Dec** **[Endra](https://millionrounds.com/company/endra)** Seed · SE · Firms' own news pages **$20M** With 1 other
- **Nov** **[Quantum Systems](https://millionrounds.com/company/quantum-systems)** Series C · DE · Silicon Canals **$208M** With 3 others
- **Nov** **[Falkin](https://millionrounds.com/company/falkin)** Pre-seed · GB **$2.0M** With 3 others
- **Oct** **[findIQ](https://millionrounds.com/company/findiq)** Seed · DE · Silicon Canals **$4.0M** With 1 other
- **Oct** **[Ewake](https://millionrounds.com/company/ewake)** Pre-seed · FR **$2.3M** With 3 others
- **Oct** **[Upciti](https://millionrounds.com/company/upciti)** Series A · FR **$20M** With 4 others
- **Oct** **[Resistant AI](https://millionrounds.com/company/resistant-ai)** Series B · CZ **$25M** With 3 others
- **Sept** **[GoodFit](https://millionrounds.com/company/goodfit)** Series A · GB · Silicon Canals **$13M** *Led*
- **Sept** **[TERN Group](https://millionrounds.com/company/tern-group)** Series A · GB · RTP Global **$24M** With 4 others
- **Sept** **[Remuner](https://millionrounds.com/company/remuner)** Seed · ES **$6.5M** With 4 others
- **Sept** **[Miru](https://millionrounds.com/company/miru)** Pre-seed · US **$2.7M** With 4 others
- **Sept** **[Umony](https://millionrounds.com/company/umony)** Series A · GB **$15M** With 3 others
- **Aug** **[GigPig](https://millionrounds.com/company/gigpig)** Venture · GB **Undisclosed** With 1 other
- **Aug** **[Unbox](https://millionrounds.com/company/unbox)** Pre-seed · BE **$1.6M** With 1 other
- **Jul** **[Internxt](https://millionrounds.com/company/internxt)** Seed · ES **$3.8M** With 3 others
- **Jul** **[Zango](https://millionrounds.com/company/zango)** Seed · GB **$4.8M** With 3 others
- **Jul** **[Paddle](https://millionrounds.com/company/paddle)** Debt · GB **$25M** With 4 others
- **Jun** **[Orus](https://millionrounds.com/company/orus)** Series B · FR **$29M** With 3 others
- **Jun** **[Treefera](https://millionrounds.com/company/treefera)** Series B · GB · Firms' own news pages **$30M** With 5 others
- **Jun** **[Digger](https://millionrounds.com/company/digger)** Seed · US **$3.6M** With 5 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **11 named**

CT **Chris Tottman** Executive Officer i Filing they signed

CE **Christopher Edward Tottman** Executive Officer, Director i Filing they signed since 2009

IL **Ian Leathley Milbourn** Executive Officer, Director i Filing they signed since 2009

ID **Itxaso del Palacio** Executive Officer i Filing they signed

ID **Itxaso Del Palacio Aguirre** Member i Form ADV

JC **Jocelyn Christopher White** Executive Officer, Director i Filing they signed since 2009

JW **Jos White** Executive Officer i Filing they signed

PN **Patrick Norris** Executive Officer, Director i Filing they signed

SC **Stephen Charles Chandler** Executive Officer, Director i Filing they signed since 2009

WP **William Patrick Gareth Norris** Member i Form ADV

BV **Benjamin Vincent St John White** director i Company register since 2009

We also hold **39** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$1.6B** gross assets of its funds Oct 2026

**6+** funds on file numbered funds in its name

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Notion Capital Managers LLP
- **SEC number:** CRD 301084
- **Companies House:** 06877570, since 2009

Who backs their funds

## 1 LP on record in Notion Capital's funds

- **Funds:** 1

The institutions that put money into its funds, which the firm then invests in companies. Source: an LP list.

- [**Id4 Ventures** 1 fund](https://millionrounds.com/fund/id4-ventures) Fund Vintage Committed Notion - -

## What they claim to have backed

From their own portfolio page (on their website)

**1** of 3 we have independently watched raise

[Mews](https://millionrounds.com/company/mews) Included VC Principles of Pricing

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Exits from the portfolio

Companies it backed that were later bought or listed **2 in all**

**[Concentra](https://millionrounds.com/company/concentra)** Bought by Select Medical **$1.1B** Mar 2015

**[Shutl](https://millionrounds.com/company/shutl)** Bought by [eBay](https://millionrounds.com/fund/ebay) **Undisclosed** Oct 2013

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$336M**

raised in Mar 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Pre-seed Seed Series A

Median round joined **$9.2M** the round, not its cheque Alone, median **$2.5M**

Led 10 of 202 rounds **5%**

- **Said size:** $10M – $10M
- **Sole investor:** 19 rounds
- **Last cheque:** Oct 2026
- **Exits:** 2 from the portfolio

Rounds by stage said on their site

- Series A said *54*
- Seed said *49*
- Series B said *25*
- Venture *24*
- Pre-seed said *22*
- Growth said *-*

Cheques by month Led Joined

Dec 2023 Nov 2026

Often in the room with

- [Seedcamp](https://millionrounds.com/fund/seedcamp) 10
- [Anthemis](https://millionrounds.com/fund/anthemis-group) 7
- [Balderton Capital](https://millionrounds.com/fund/balderton-capital) 7
- [Concept Ventures](https://millionrounds.com/fund/concept-ventures) 7
- [Entrepreneur First](https://millionrounds.com/fund/entrepreneurs-first) 7
- [Firstminute Capital](https://millionrounds.com/fund/firstminute-capital) 7

**Pitching Notion Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Notion Capital. A count of rooms they were both in, not a relationship either has claimed.

[**Seedcamp** VC firm **10** rounds together](https://millionrounds.com/fund/seedcamp)[**Anthemis** VC firm **7** rounds together](https://millionrounds.com/fund/anthemis-group)[**Balderton Capital** VC firm **7** rounds together](https://millionrounds.com/fund/balderton-capital)[**Concept Ventures** VC firm **7** rounds together](https://millionrounds.com/fund/concept-ventures)[**Entrepreneur First** Accelerator **7** rounds together](https://millionrounds.com/fund/entrepreneurs-first)[**Firstminute Capital** VC firm **7** rounds together](https://millionrounds.com/fund/firstminute-capital)[**Octopus Ventures** VC firm **7** rounds together](https://millionrounds.com/fund/octopus-ventures)[**Speedinvest** VC firm **7** rounds together](https://millionrounds.com/fund/speedinvest)[**Kima Ventures** VC firm **6** rounds together](https://millionrounds.com/fund/kima-ventures)[**Triple Point Ventures** Asset manager **6** rounds together](https://millionrounds.com/fund/triple-point)[**Connect Ventures** VC firm **5** rounds together](https://millionrounds.com/fund/connect-ventures)[**Eden Ventures** VC firm **5** rounds together](https://millionrounds.com/fund/eden-ventures)

## Recently backed

The latest companies Notion Capital put money into.

[**Easol** $30M · Oct 2026](https://millionrounds.com/company/easol)[**Scarlet** $50M · Oct 2026](https://millionrounds.com/company/scarlet)[**Twin1 AI** $20M · Aug 2026](https://millionrounds.com/company/twin1-ai)[**Endra** $50M · Jun 2026](https://millionrounds.com/company/endra)[**Pivot** $40M · May 2026](https://millionrounds.com/company/pivot)[**OpenTrade** $17M · May 2026](https://millionrounds.com/company/opentrade)

## Quick answers about Notion Capital

### What does Notion Capital invest in?

Notion Capital invests most often at Series A and Seed (59% of the rounds on record), in sectors such as Middleware, Cloud Computing and Cloud Infrastructure.

### How active is Notion Capital?

202 investments on record, 23 of them in the last 12 months, and it led 10. The most recent was in Oct 2026.

### What has Notion Capital invested in recently?

Its most recent investments on record: Easol (Series A, Oct 2026), Enact Intelligence (Pre-seed, Oct 2026) and Scarlet (Series B, Oct 2026).

### How big are Notion Capital's cheques?

The median round it joins is $9.2M. It says it writes cheques of $10M to $10M.

### Does Notion Capital lead rounds?

Sometimes: it led 10 of its 202 investments on record (5%).

### Where does Notion Capital invest?

Most of the companies it backs are in the United Kingdom (46%), the United States (18%) and France (10%).

### Is Notion Capital investing now?

Yes: it is actively investing, with 23 investments in the last 12 months.

### Who does Notion Capital invest alongside?

Most often Seedcamp (10 rounds together), Anthemis (7 rounds together) and Balderton Capital (7 rounds together).

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