March Capital Partners Fund III raises $450M

March Capital has closed the March Capital Partners Fund III LP on $450 million.

The investment vehicle will target businesses specializing in enterprise artificial intelligence, industrial technology, cybersecurity, financial technology and cloud infrastructure.

The Santa Monica, Calif.-headquartered venture capital firm also launched the March Capital Foundation, an initiative that will be led by Co-Managing Partner Jamie Montgomery.

It will aim to increase opportunities in at-risk communities in Southern California and will focus on homelessness, community health and inner-city youth advancement.