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Venture Capital

Notation Capital

Notation Capital backs early-stage and high-growth companies, typically pre-profit, from New York, United States. It states a focus on software & internet, healthcare & life sciences and energy & utilities.

Capital raised$965kacross 5 SEC-filed vehicles
Most recent fund2021filing since 2014
HeadquartersNew York, United States
Largest single fund$965k

Stated investment criteria

What Notation Capital says it buys

Read from Notation Capital’s own website in August 2026. This is what the firm says it buys, not what anyone has recorded it buying, and figures are shown in the currency the firm itself used - nothing here is converted. Every line links to the page it was read from.

People listed on its team page711

A stated mandate is a firm’s description of itself and was true of the page on the day it was read; firms widen and narrow what they will look at without updating the site. The team figure counts the people the firm shows on one team page, so it is a floor rather than a headcount: firms that split their team across tabs or load it in pages will read low. Nothing here is a commitment by Notation Capital to consider any particular business, and nothing on this page is represented as being for sale.

SEC filings

What Notation Capital has raised

From this firm's own Form D filings. A fund files one within fifteen days of its first sale, under penalty of perjury, which makes these the hardest numbers on the page.

Vehicles filed5
Total capital raised$965k
Largest single vehicle$965k
Filing history2014 to 2021
Smallest accepted commitment$3k
Filed fromNEW YORK

Form D covers US-domiciled vehicles raised from accredited investors. It will not capture a fund raised outside the United States, separately managed accounts, or capital deployed off balance sheet, so treat these as a floor rather than a total.

Regulatory record

How Notation Capital is registered

From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.

Adviser statusExempt reporting adviser
Regulatory assets under managementNot reported by an ERA
Private funds advised8 · $186m gross
SEC adviser numberCRD 327638

An exempt reporting adviser is not required to report regulatory assets under management, so the blank above means the question was not asked rather than that the answer is unknown. Where a figure exists it is the gross asset value of the private funds the firm advises, which is a different and usually larger measure.

Portfolio

Disclosed holdings

Companies Notation Capital lists on its own website. No investment years are published. 1 has a recorded transaction against it in the deal archive.

CompanyInvestedYears heldRecorded transaction
Alice
Amperon Next generation energy intelligence
Amplifydata
Arweave
Askiggy
Axo
BastionZero Infrastructure access as a service
Bison Trails
Braid Group spending and messaging
Bulletin
Bumpers Short-form mobile audio
Butterapp
Carmera
Cashmere
ChargeLab Electric vehicle charging made simple
Chillpill
Circle
Clay
Clay CRM
Clora
Datadoghq
Density
Duckly Video collaboration tool for developers
Enum
Evaluate
Filecoin A blockchain-powered decentralized storage network
Formsort
Getceleri
Getshippy
Grapevine
Hickorytraining
Housecat
Indify
Kinvolved
Lagerdata
Lighthall
Livepeer
NEAR Decentralized storage and compute platform
Nemedio Accelerating medical device development
Norby
NuCypher Crypto infrastructure for privacy-preserving applications
Opencollective
Parsec$320m 2024
Photon
Podia
Qawolf
Radarrelay
Redesign
Runwise
Sawyer
Seasons Members-only subscription for streetwear
Shiparta
SimpleHealth
Solana
Spruce
Spyglass
Stellar
Stylux
Talos
Texino
Toolio
Usemerkle
Wallaroolabs
Wand AI-powered creative tools
Wayfinderbio
Withtally
Zeppelin
nTopology

Compiled from Notation Capital’s published portfolio page. Where a recorded transaction is shown, that company was the target of a reported deal and has most likely already been realised. Nothing here is represented as being for sale.

Valuation context

Transaction values in Software & Internet

What companies have actually sold for in software & internet, across 2,672 recorded transactions.

Median consideration$80m
Middle 50%$20m-$250m
Revenue multiple2.2×
EBITDA multiple10.9×

The full software & internet picture - most active acquirers, recent transactions and every investor in the sector.

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Comparable investors

Similar mandates

Other venture capital investors active in software & internet.