March Capital Partners, a Santa Monica, California-based venture capital firm, closed its second fund, at $300m.
With support from both existing and new investors, Fund II continues to build on the success of the firm’s inaugural $240m fund, focused on key industries where market conditions have accelerated adoption, such as:
– AI in the enterprise,
– industrial IoT and infrastructure,
– next-gen consumer technologies,
– growth in India, and
– esports and gaming.
The fund will primarily include new companies but will also reinvest in its winners from Fund I.
Fund II investments already include Xage Security, ioTium, Descartes Labs, Forter, Astound, and Decision Engines.
Led by Founders Jamie Montgomery, Sumant Mandal, Jim Armstrong, and Gregory Milken, March Capital Partners is also expanding its team, naming two new partners:
– Meredith Finn, previously of Salesforce Ventures, and
– Jed Leidheiser, promoted from Vice President at March Capital.
Finn was a key member of Salesforce Ventures, launching the Salesforce Impact Fund. She is relocating from New York to join the team. Leidheiser has over 13 years of experience in enterprise technology.
The firm’s portfolio also includes cybersecurity firm CrowdStrike, Cloud-Delivered SD-WAN company VeloCloud, recently acquired by VMware, Mumbai-based payments network BillDesk, and others.