March Capital Partners Closes Its $240 Mn Maiden Fund; Looks To Invest In Indian Startups

Los Angeles-based March Capital Partners has closed $240 Mn venture capital fund. With this maiden fund, the venture capital firm aims to invest in tech startups globally.

Founded in 2014 by Jim Armstrong, Sumant Mandal, Gregory Milken and Jamie Montgomery, March Capital Partners generally invests in breakthrough technology companies across all stages of company growth. The VC firm invests somewhere between 500K to $25 Mn.

The investment firm has invested about $100 Mn across 15 ventures across the globe. It also counts two prominent Indian startups among its portfolio including payment gateway solutions provider BillDesk and classifieds auto portal CarTrade.com.

In January, earlier this year, March Capital Partners co-led $145 Mn funding round in CarTrade, along with Temasek, the investment firm backed by the Govt of Singapore.

Sumant Mandal, partner at March Capital Partners, told ET, “We believe that India is one of the fastest growing internet economies in the world, and we are looking to invest in companies that will serve the next billion people come online. We are also focusing on companies that are using big data, artificial intelligence and machine learning to gain competitive advantage.”

The VC firm plans to bet on the startups that would leverage the next evolution of consumer engagement on the Internet through virtual and augmented reality, internet infrastructure, big data, machine learning, and artificial intelligence.

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