.406 Ventures, a Boston, MA-based venture capital firm investing in early-stage innovative enterprise technology and digital health companies, closed its fourth fund, at $294m.
Point 406 Ventures IV, L.P. received support from investors in .406’s prior funds as well as many new investors with whom the team has developed relationships in recent years.
Consistent with prior funds, .406 Fund IV will focus exclusively on early stage investment opportunities in cybersecurity, digital health and data & cloud companies, primarily in the eastern half of the U.S.
In addition, the firm announced the promotion of Payal Agrawal Divakaran to Partner, as well as the addition of Kevin Wang as Associate and Joseph SantaBarbara as Controller.
Agrawal, who joined .406 in 2015, will continue to focus on Digital Health, where she has been involved in many of the firm’s investments including Redox and WelbeHealth and taken the lead on recent investments in Nomad Health and Wellist.
Wang joined the firm in August as an Associate. Prior to joining .406, he worked at BV Investment Partners (formerly Boston Ventures) and began his career in technology investment banking at J.P. Morgan.
SantaBarbara joined .406 in October as Controller. He previously worked at Summit Partners as a Senior Manager. Prior to Summit, SantaBarbara was a Senior Associate at PricewaterhouseCoopers in their Life Science and Pharmaceutical group.
Since its founding in 2005, .406 has raised over $1 billion across four core funds and two opportunity funds, invested in 62 companies and created $12 billion of value. The firm will continue to focus on identifying opportunities through a highly selective, disciplined, founder-optimized approach.
The tem includes .406 co-founders Maria Cirino and Liam Donohue as well as long time partners Graham Brooks and Greg Dracon, who will be added as General Partners of the Fund.