OpenView Venture Partners Raises $250 Million Fund

Boston’s OpenView Venture Partners, a VC firm that backs growth-stage software companies, has raised $250 million for its fourth fund.

The news was expected. Fortune reported in August that OpenView was hoping to hit that price tag for the new fund, which had been teased in an SEC filing.

OpenView touts several successful investments, including Intel-acquired API service Mashery and marketing software seller ExactTarget, which went public in 2012 and was later acquired by Salesforce. Its last fund, worth $200 million, was raised in 2012.

OpenView, founded in 2006, has a pretty specific target: It writes checks of $5 million-$20 million for stakes in business-to-business software companies that are collecting between $2 million-$20 million in yearly sales.

Like many venture firms, OpenView tries to improve its own sales pitch to entrepreneurs by offering extra services on top of just connections and money—the firm’s Labs unit, which helps portfolio companies with hiring, marketing, and other growth-stage needs.

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