Brothers Ben and Jos White, as well as other former MessageLabs executives, will place approximately £20 million into the Fund to be called Notion Capital.
Ben White has been quoted as saying:
“In the UK there’re lots of good ideas and original thinking but not enough skills or funding.We don’t believe there is a sizeable tech venture capital specialist in the UK. When we started, UK venture capital didn’t think big, so we went to the US.”
Notion Capital will focus primarily on technology companies, particularly those that provide software as a service. They aim to complete approximately four to six deals a year with about £10-£20million for mid-stage companies and £2-£4 million for early stage companies.
Pssst, hey you!
Do you want to get the sassiest daily tech newsletter every day, in your inbox, for FREE? Of course you do: sign up for Big Spam here.