March Capital, a Santa Monica-based venture capital firm, recently announced the successful raise of its largest fund to date, a $650 million investment vehicle. This fund is primarily aimed at supporting up to 15 startups that focus on harnessing the potential of artificial intelligence to deliver innovative solutions. March Capital plans to deploy the capital across a range of 12-15 investments, primarily targeting startups that are either in their growth stage or approaching it. While the firm typically backs later-stage rounds after Series B, they have also ventured into seed-stage investments, such as their nearly $11 million seed round for Los Angeles-based game studio Playgig in late 2022.
This suggests that the fund may be allocated to companies in various stages of development.
It’s worth noting that March Capital has not exclusively committed this fund to AI-focused companies. The firm oversees approximately $1.6 billion in managed assets, indicating a diverse investment portfolio.
The firm has a history of backing startups with a strong emphasis on AI, including CrowdStrike, a network security company based in Sunnyvale, which became one of their most valuable IPOs, raising over $700 million when it went public in 2019.
March Capital has also seen notable exits and IPOs, including the sale of Marina del Rey-based communications software company TeleSign for $230 million in 2017. Their successful track record and unique investment approach have contributed to the close of their largest fundraise.
March Capital’s co-founder and managing partner, Jamie Montgomery, expressed confidence in the abundant investment opportunities within their focus areas. He anticipates continuing to support and accelerate extraordinary companies positioned for hyper-growth in the coming years.