March Capital

March Capital (March Capital Partners) Research

Note: the website stored in F4-OS for this record (marchcapital.com) belongs to an unrelated Chicago FINRA broker-dealer, March Capital Corporation. The venture firm is March Capital Partners of Santa Monica, CA, at marchcp.com. This profile covers the venture firm.

Investment Thesis

March Capital describes itself as investing in frontier technology companies at the leading edge of the AI revolution. It is a growth-stage venture firm that backs enterprise technology companies that have already found product-market fit and are ready to scale quickly. Its stated aim is to help founders scale technology companies into mission-critical global platforms. In practice that means AI-enabled enterprise software, cybersecurity, fintech, data and cloud infrastructure, and a smaller set of generative biology bets. The firm's founding focus was enterprise, cyber and India, and it still holds several India-origin companies (BillDesk, CarTrade Tech, Shiprocket, Uniphore, Acceldata, Vayana) that sell into both domestic and global markets.

Investment Philosophy

The firm lists five principles: partner with entrepreneurs who can scale; target large markets with proven product-market fit; look for quick time to value and platform potential; keep valuation discipline and invest with a margin of safety; and build concentrated portfolios and double down on winners. Third-party coverage says it aims for roughly 12 to 15 new investments per fund, which is deliberately small. The 2017 CrowdStrike investment (reported at about $26.5M) is its signature win and reportedly returned more than $1B.

Stage Focus

Early-growth and growth stage, generally Series A through Series C and later follow-ons, after product-market fit is established. Recent examples include the Lila Sciences Seed and Series A, SuperOps Series C (led, January 2025) and Uniphore Series F (October 2025). It will go earlier on exceptional deep-tech teams (Lila Sciences seed in 2025).

Check Size

Not published. Fund sizes ($240M to $650M) and a concentrated model imply initial checks of roughly $10M to $30M with substantial follow-on reserves. This is an inference, not a stated figure, and confidence is low.

Lead Tendency

Leads or co-leads many rounds (SuperOps Series C) and participates in others (Lila Sciences Series A). Marked as both.

Funds and Activity

Fund I closed in 2016 at $240M, the largest first-time venture fund in Southern California at the time. Fund II was about $300M (2019), Fund III $450M (2020) and Fund IV $650M+ (closed February 3, 2023). The firm reports $1.65B+ raised across four funds and 25+ market-leading portfolio companies. A 2023 HEC Paris-Dow Jones study ranked March 7th globally among venture firms for funds raised 2009 to 2018. Fund IV is the active vehicle and the firm is still investing, with recent activity in 2025 and 2026 (Lila Sciences, Uniphore, Together AI, SuperOps). No Fund V announcement was found.

Portfolio Highlights

Winners and exits: CrowdStrike (IPO), VeloCloud (acquired by VMware), KnowBe4 (IPO, then taken private by Vista Equity Partners), Tessian (acquired by Proofpoint), FogHorn (acquired), CarTrade Tech (listed on BSE). Active names include Together AI, Uniphore, ThoughtSpot, Snorkel AI, Canva, EarnIn, Forter, Lila Sciences, Generate:Biomedicines, Tessera Therapeutics, Luminance, SuperOps, Altana, Extend, Immuta and Acceldata.

Team

Founded in 2013 to 2014 in Santa Monica by four technology veterans: Jamie Montgomery, Sumant Mandal, Jim Armstrong and Gregory Milken. Jamie Montgomery and Sumant Mandal serve as managing partners. The team is 30+ people across investing, platform and marketing, capital formation, finance and operations. Jamie Montgomery also founded The Montgomery Summit in 2004, an annual two-day conference at the Fairmont Miramar in Santa Monica that draws 1,200+ entrepreneurs, investors and executives and acts as a deal-flow and relationship engine for the firm.

Decision Process

Investment decisions are made as a team ("when we invest, we invest as a team"), which indicates a partnership model. Warm introductions and Montgomery Summit relationships are a common route in.

Founder Preferences

Founders with a provocative vision, large-market focus and demonstrated traction who can scale into platforms. The firm values character, commitment and capability, and prefers quick-time-to-value products with enterprise buyers. Seed or pre-product consumer companies are not a fit.

Geographic Focus

Primarily North America with a strong Los Angeles base, plus a deliberate India strategy and selected investments in Israel and Europe (Forter, Tessian, Luminance).

Gaps

The team, founders and individual pages were behind a bot challenge. Partner titles beyond managing partner roles, emails and LinkedIn URLs were not retrievable. Check size is inferred.