Boston-based OpenView Venture Partners has raised a new $200 million fund with the goal of propping up cloud and operational support for enterprise-class companies, the firm announced Wednesday.
OpenView has a history of funding big data and cloud companies in their expansion stage rather than provide seed funding, and this fund’s focus will be no different. Normally, its investments are targeted at companies that have $2 to $20 million in annual sales.
“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,” said OpenView founder and Senior Managing Director Scott Maxwell, in a statement. “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 company told TechCrunch that it expects to announce its first investment from the new fund next week. It will be an identity-management company out of Texas that utilizes big data and the cloud technologies.
Money flying in the cloud photo: Yuri Shirokov/Shutterstock
Contemplating expanding your business to Asia? Sign up for a free VB webinar this Thursday 3/22 at 1pm PT. You’ll benefit from actionable tips and lessons learned as VB Executive Editor Dylan Tweney moderates a lively discussion with a group of Silicon Valley CEOs about their experience in using Singapore as a hub for Asian expansion. There will also be an attendee Q&A portion directly following the session. For full details, go here.