New $217M Venture Fund for Enterprise Tech Startups in Boston
No one knows how much longer it’ll last, but it’s definitely a good time to raise a venture fund. Boston-based .406 Ventures said today it has raised a $217 million third fund to invest in enterprise tech companies.
The 10-year-old venture firm has about $600 million under management, making it one of the more prominent tech investors in New England. Its portfolio companies span the fields of cybersecurity, health IT, big data, and cloud infrastructure: they include Veracode, Bit9 + Carbon Black, Iora Health, CoPatient, Bedrock Data, Indico, and CloudHealth Technologies.
.406 Ventures is led by co-founders and managing partners Maria Cirino and Liam Donohue. The firm tends to invest in early-stage companies, many of them based in the Boston area. That and its sector focus puts it in competition (and cooperation) with a number of other VC firms in town, including Accomplice, G20 Ventures, Founder Collective, and General Catalyst Partners.