Notion Capital

Notion Capital is a London-based venture capital firm specialising in B2B SaaS and enterprise software, founded in 2009 by Jos White, Stephen Millard and Itxaso del Palacio. The fund's thesis is focused on European founders building the next generation of business software, operating from seed through to Series B. Notion invests with deep sector knowledge of enterprise go-to-market, product-led growth and international expansion from European bases. Its portfolio includes companies such as GoCardless, Paddle, CloudNC and Modulr.

Notion manages several fund vintages with total AUM above £300m and typically leads seed and Series A rounds in companies that have shown early enterprise traction. Its willingness to lead in AI-native B2B companies has accelerated in the 2024-2026 period as AI tooling became a differentiator in enterprise software sales, particularly in vertical SaaS, AI-augmented productivity and talent platforms.

Notion Capital led Dex's $5.3m seed round in April 2026 alongside a16z Speedrun, Concept Ventures and OpenAI-affiliated angels. Dex is an AI/ML talent matching platform with $1.8m ARR and clients including Granola, Synthesia and ElevenLabs. The round is notable as a vote of confidence in Dex's revenue-generating talent marketplace at a time when many AI seed rounds lack commercial traction.