Expansion-stage venture capital firm OpenView Venture Partners has closed its third fund on $200m, exceeding its target by $50m.
The fund, OpenView’s largest to date, was raised in just three months and will be used to provide operational support to companies, the firm said.
Openview founder and senior manager Scott Maxwell said, “We are very excited to launch our third fund and to continue our mission of helping some of the world’s best expansion-stage technology companies succeed.
“This fund will allow us to continue to invest in the best expansion-stage companies globally while also enhancing our unique platform for serving the needs of the companies we invest in.”
The firm has completed more than 100 projects on behalf of its portfolio companies since its inception, including market research, recruitment and product management.
It focuses on backing expansion-stage, high-growth software, Internet and technology-enabled companies which generate between $2m and $20m revenues, which seek between $5m and $15m of venture capital.
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