London-based venture capital firm Notion Capital has closed its third fund, Notion Capital III LP, at $140m (£107 million).

The fund’s closure comes almost two years after it was first announced at $120 million, and at the time Notion noted that it planned to grow the fund to $150 million by the end of 2015. As announced previously, the pot of cash will go toward enterprise-focused SaaS and cloud startups based in Europe.

Notable new investors include Cisco’s VC arm, Cisco Investments, as well as Emory and Texas A&M university endowments in the U.S. and Ireland’s Key Capital.

Alongside Notion Capital III, the company also revealed a brand new, separate $80 million (£60 million) fund, Notion Capital Opportunities LP, that will be used for later-stage follow-on funding for its existing portfolio of startups. It’s a fairly flexible fund, meaning it can go toward “the best performing” companies in its existing cohort of companies from across all three venture funds.

Founded in 2009, Notion Capital was set up by brothers Ben and Jos White after selling their company, MessageLabs, to Symantec for $700 million. Notion Capital’s two previous funds amounted to around $150 million in total, so today’s news more than doubles its resources.

Additionally, Notion has also appointed two new partners, Chrys Chrysanthou and Patrick Norris, who have been promoted from other positions within the VC firm.

“We set up Notion in 2009 in the midst of the worst financial crisis in a generation, at a time when the venture asset class remained unproven in Europe,” explained Notion’s managing partner, Stephen Chandler. “Indeed, our U.S. friends seemed largely dismissive of it. We did this on the back of a very successful exit of our own with MessageLabs, which reinforced our view on the opportunity. The cloud, which sits at the very heart of our investment thesis, means that great entrepreneurs — of which there are many in Europe! — can develop, deploy, sell, and support their product globally in ways that were simply not possible a decade ago – and can create huge value in doing so.”

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