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Boston VC firm .406 Ventures puts together new $175 million investment fund

Posted by Scott Kirsner  December 18, 2012 08:00 AM

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.406 Ventures, the venture capital firm that considers Ted Williams its patron saint, is going to stick around and play for a few more seasons.

The Boston firm is announcing this morning that it has raised $175 million, a new pool of capital that it will invest in startups that build enterprise technology, largely along the East Coast. Partner Liam Donohue says that the firm isn't changing its line-up for the new fund, or the types of companies it will back. "We've done a lot in health IT, security, web infrastructure, and big data, and we're not planning to do much new off that core," he says. "We're seeing more data analytics deals, like everyone else, and we'll probably do more healthcare IT in the new fund." The original investment fund at .406, which it finished raising in 2008, was just a bit smaller than this new one, at $167 million.

.406 typically likes to be the first VC firm to put money into a start-up company, participating in the A round. As far as making seed investments, Donohue says, "We do it selectively, but we're not running a seed program."

.406 was founded in 2006 by Donohue, Maria Cirino, and Larry Begley. Among its more successful investments so far are Adtuitive (acquired by Etsy), ChosenSecurity (acquired by PGP Corp), and Veracode, an information security company occasionally mentioned as a 2013 IPO candidate. Its offices on Atlantic Avenue are decorated with Ted Williams memorabilia like the signed bat above.

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Scott Kirsner was part of the team that launched Boston.com in 1995, and has been writing a column for the Globe since 2000. His work has also appeared in Wired, Fast Company, The New York Times, BusinessWeek, Newsweek, and Variety. Scott is also the author of the books "Fans, Friends & Followers" and "Inventing the Movies," was the editor of "The Convergence Guide: Life Sciences in New England," and was a contributor to "The Good City: Writers Explore 21st Century Boston." Scott also helps organize several local events on entrepreneurship, including the Nantucket Conference and Future Forward. Here's some background on how Scott decides what to cover, and how to pitch him a story idea.

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