binarypublishMarch Capital, a venture capital firm based in Santa Monica, California, recently closed a $650 million fund to invest in enterprise AI startups. The firm is targeting startups that develop cloud-based business software, including artificial intelligence, cybersecurity, and data-infrastructure systems. March Capital founders and managing partners, Jamie Montgomery and Sumant Mandal, spoke with WSJ Pro about the status of the fund and their strategy in the slower climate for venture investing.
Key Points:
- March Capital raised a $650 million fund to invest in enterprise AI startups.
- The firm is targeting startups that develop cloud-based business software.
- March Capital founders expect their pace of investments to pick up in the next 12 months.
March Capital raised its fourth and largest fund to date earlier this year, with the goal of investing in startups that are developing cloud-based business software, particularly in the areas of artificial intelligence, cybersecurity, and data-infrastructure systems. The firm is betting on the growing AI boom to help its enterprise software strategy pay off. The founders believe that AI has the potential to transform many industries, and they want to be at the forefront of investing in innovative startups.
Given the slower climate for venture investing, Montgomery and Mandal anticipate that the market may not see a sudden turnaround in 2024. However, they are optimistic about the future and expect their pace of investments to increase in the next 12 months. They believe that there are still significant opportunities in the enterprise AI space, and they are actively seeking out startup companies that have the potential to disrupt and innovate.
In conclusion, March Capital’s recent $650 million fund is aimed at investing in enterprise AI startups developing cloud-based business software. The founders are confident in the potential of the AI industry and expect their investment pace to pick up in the coming year. Despite the slower climate for venture investing, they believe there are still opportunities for innovation and disruption in the enterprise AI space.
