TLDR:

.406 Ventures has fallen short of its target for its fifth fund, which aimed to raise $300 million. The firm has currently raised $260 million for the fund, which will be used to invest in technology and healthcare companies. LPs in Fund V include Newport News Employees Retirement System, which committed $4.4 million, and The Campanile Foundation.

Summary:

.406 Ventures, a venture capital firm based in Boston, has reportedly fallen short of its target for its fifth fund. The fund, which aimed to raise $300 million, has currently raised $260 million, according to sources. .406 Ventures plans to use the capital to invest in technology and healthcare companies. Limited partners (LPs) in the fund include Newport News Employees Retirement System, which committed $4.4 million, and The Campanile Foundation. The firm specializes in early-stage investments and has a focus on sectors such as cloud infrastructure, cybersecurity, and data and analytics. .406 Ventures was founded in 2006 and has raised a total of $1.1 billion across its five funds. Despite not reaching its target, the firm’s fifth fund is still expected to be one of the largest in its history. The fund’s investments include companies such as Carbon Black, Rapid7, and Salsify.