Californian VC March Capital Partners has closed its second fund on $300m to invest across the mobile, enterprise, infrastructure, gaming and other growth sectors.
Earlier this month AltAssets reported March raised $302m for its second venture capital fund and a opportunity vehicle.
The firm raised $156.6m from 78 limited partners for March Capital Partners Fund II, according to an SEC filing. March Capital Opportunity Fund II also secured $145.4m from 51 investors.
The Santa Monica-based firm was initially looking to raise $150m for each vehicle, a previous filing showed.
March’s latest fundraises come two years after the venture capital firm closed its $240m inaugural fund.
March is set to continue its investment strategy used for Fund I and will also reinvest in ‘breakout winners’ from the first fund.
The firm has already tapped Fund II to invest in Xage Security, ioTium, Descartes Labs, Forter, Astound, and Decision Engines.
“The world of technology investing continues to evolve as foundational technologies such as AI, cloud, and IoT allow for new and exciting value propositions,” said March founder and managing director Sumant Mandalers. “At the same time, our exposure to the fast-growing internet market in India continues to remain exceptionally exciting.”
March typically invests in enterprise software businesses from Series A to later stage investments, with a particular focus on mobile, enterprise, infrastructure, gaming sectors.
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.
Last week, the firm led the $12m Series A round of Xage Security, a blockchain-based security solution for industrial IoT.
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