Venture

March Capital Partners To Raise $410M For Fund III, Per SEC Filing

March Capital Partners, a Santa Monica-based firm which invests in early and late-stage companies, is looking to raise $410 million for its fifth fund, according to an SEC filing submitted on Friday.

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The third fund, if closed would be the firm’s largest to date, with the fund prior totaling $300 million. The filing lists Sumant Mandal, Gregory Milken, and James Montgomery as managing directors of the fund.

No capital has been raised yet for Fund III. The fund is only open to “qualified purchasers,” which are typically either (ultra) high net worth families or institutional limited partners. While the filing says that no capital has yet been raised, it’s not uncommon for venture firms to submit regulatory disclosures immediately prior to accepting capital commitments.

March Capital Partners has invested in companies across many verticals including enterprise software, cloud infrastructure, and next-gen customer consumer devices. It mainly invests Series A through Series C rounds, according to its website.

According to its Crunchbase profile, the firm has had nine exits to date, including CrowdStrike, a cybersecurity company that we’ve written about before, and TeleSign, a global communications startup. Additionally, the company has made over 60 investments, with its most recent being a $4 million round for Knock Knock, a game development technology startup. In fact, last month, the company filed that it is raising a $50 million fund for gaming.

March Capital Partners did not immediately respond for comment regarding the new filing.

Illustration Credit: Li Anne Dias

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