March Capital has closed its third fund at $450 million. The fund will focus on enterprise software companies.
Santa Monica, CA – January 14, 2021 – March Capital (formerly March Capital Partners) today announced the close of the March Capital Fund III, a $450M fund focused on enterprise software companies. With strong support from both existing and new investors, the fund is focused on supporting entrepreneurs developing innovative software and market-leading solutions in enterprise AI, industrial technology, cybersecurity, financial technology and next generation cloud infrastructure. The close of Fund III follows the success of March Capital Funds I and II, with over $1 billion in realized profits through investments in breakout enterprise companies including CrowdStrike (Nasdaq: CRWD), VeloCloud (acquired by VMWare), ASAPP, BillDesk, CarTrade, Earnin, Forter, SparkCognition, Uniphore and other portfolio companies.
“Building on the adoption of broadband, mobility, cloud, and now 5G coupled with edge computing, we will see unprecedented innovation in the next ten years, with yet to be imagined applications and a complete new network architecture to support it,” said Sumant Mandal, March Capital Co-Managing Partner. “Going through the pandemic over the last year has shown that the adoption of new digital platforms is mission critical for businesses worldwide and has permanently changed human behavior. A decade of behavior change has happened in less than one year.”
March Capital also today announced the March Capital Foundation, formalizing the firm’s longstanding community engagement and amplifying its commitment to increase the opportunities in the innovation economy for broader and at-risk communities in Southern California. The Foundation’s focus includes homelessness, community health, and inner-city youth advancement. Co-Managing Partner James Montgomery will spearhead this initiative.
“The March Capital team is passionate about helping exceptional entrepreneurs build companies that will have a positive impact on the world. With the close of Fund III and launch of the Foundation, we are able to double down on our commitment to drive positive change through the companies in which we invest and opportunities the innovation economy presents,” said James Montgomery, Co-Managing Partner, March Capital. “We are grateful to our longstanding investment partners that continue to put their trust in March to identify and invest in the most visionary entrepreneurs and innovative solutions. We remain committed to doing the hard work necessary to unearth the next enterprise tech standouts and help them succeed.”
March Capital raised Fund III at an unprecedented time of stay-at-home orders and isolation, requiring a new approach to engage and support the investment and entrepreneurial communities. These strategies included launching the Montgomery Summit Virtual Series, attracting a global audience through a series of virtual seminars, which will also be extended to the 2021 Montgomery Summit. While the March portfolio entered the pandemic in a position of strength given its enterprise focus, the firm immediately increased stress-testing across its portfolio to ensure continued stability, gaining further deep insights that led to follow-on investments in multiple portfolio companies (including ASAPP, CarTrade and Uniphore). March also made new investments in notable start-ups and 2020 Montgomery Summit presenting companies such as Unqork.
March Capital has 15 investment professionals and $1B+ AUM. Two-time entrepreneur Wes Nichols and India-based Rajan Mehra are new Partners for Fund III who join existing Partner Jed Leidheiser and Co-Managing Partner Gregory Milken, who leads the March Gaming investment fund.
Enterprise software entrepreneurs who would like to learn more about March Capital can go to marchcp.com for more information.
“Working with the partners of March Capital, it is very clear that they are long-term thinkers. focused on supporting the creation of very big companies. They know what they’re doing, and more importantly, they are a pleasure to work with knowing that they always have my back,” said Michael Reitblat, CEO of portfolio company Forter. “They are very well plugged-in to the market, and many times when I’ve called them with a challenge the company needed to solve, I got a very concrete connection or specific advice within just a few hours.”
About March Capital
March Capital is a top-tier venture growth firm headquartered in Santa Monica, California and investing globally since 2014. March identifies entrepreneurs with a provocative vision to lead the future and later-stage companies poised for hyper-growth, then dares to go all in by leading rounds with deep conviction and concentration risk. With $1B+ in capital over 3 funds and across 30 market-leading technology companies, March accelerates the digital transformation of Cloud-based software, automation, AI & IT infrastructure. Our vision is to create a best-in-class technology investment platform by combining intense sector focus, patience, access to a global leadership network (including founding The Montgomery Summit), and high-impact portfolio engagement to inspire & accelerate extraordinary companies.