California-based March Capital Partners has reeled in over $215m across two new funds according to a pair of regulatory filings.
March Capital Partners Fund II has raised just over $108m from 34 LPs, while March Capital Opportunity Fund II has collected $107m from 33 LPs according to filings with the SEC.
Both funds have total offering amounts of $150m; however, it is unclear if this is a target or a hard cap. It also unclear if the filings represent a first close for the vehicles.
The funds come two years after the venture capital firm launched with its $240m inaugural fund.
March Capital invests in ‘all types of enterprise software’ businesses, from Series A throughout later stages of the company’s growth. It focuses an pn enterprise on-demand services, technologies to enable hyperscale infrastructure and business opportunities from global mobile expansion.
Its portfolio includes online payment service BillDesk, paycheck company earin, blockchain-protected security platform Xage Security, and online payroll business branch, and car trading marketplace CarTrade, among others.
March Capital was formed by a group of technology industry veterans with collectively over 50 years of experience investing hundreds of millions of dollars in venture capital and private financings, including investments in PayPal, The Rubicon Project, Internet Brands and CrowdStrike.
The firm was founded in 2016 by Jim Armstrong, Sumant Mandal, Gregory Milken and Jamie Montgomery. Montgomery is the founder and former CEO of Montgomery & Co. and founder of the Montgomery Summit. Milken has 17 years of entrepreneurial and operational experience having previously founder AltEgo, and acted as senior executive at Knowledge Universe. Mandal and Armstrong began investing together at idealab Capital Partners and then Clearstone Venture Partners, where they focused on early-stage investments.
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