March Capital
About March Capital
March Capital was founded in 2014 and is headquartered on Arizona Avenue in Santa Monica. Its LinkedIn page says the team is led by Jamie Montgomery and Sumant Mandal. Crunchbase lists Gregory Milken, James Montgomery, Jim Armstrong, Richard Rice and Sumant Mandal as founders, and names Solomon Hailu as a partner. The firm's first fund closed at $240 million in 2016, focused on technology and media startups in Southern California. A later fourth fund closed at more than $650 million, targeting cloud software, cybersecurity and data infrastructure. PitchBook counts 13 professionals.
March describes its strategy as backing AI-enabled enterprise software companies that are set for rapid growth, and it concentrates its portfolios. Its LinkedIn page says it led Luminance's $40 million Series B, a legal AI company, and that the team has worked on AI-rooted companies such as ThoughtSpot, Uniphore and Generate Biomedicines. March also took part in the $200 million seed round for Lila Sciences, which is building a scientific superintelligence platform for autonomous research labs. Earlier, the firm backed ASAPP, an AI customer service software company that raised a $117.8 million Series C in 2021.
Public profiles list Seed, Series A, Series B and Series C+ as the firm's stages, with a focus on companies that already have product-market fit. PrivateEquityList gives an investment ticket of $10 million to $50 million and lists North America and Europe as regions. WaveUp reports a historical average check of $5.5 million. The sources disagree on check size, so founders should confirm the current range with the firm.
- Lila Sciences: AI platform for life, chemical and materials science research; $200 million seed round, March 2025.
- Luminance: legal AI; March led its $40 million Series B, dated January 2025 in PitchBook.
- ASAPP: AI software for automating customer service; $117.8 million Series C, 2021.
- ThoughtSpot: AI-driven analytics platform; round size not public.
- Together AI: PitchBook lists an early-stage deal dated February 2025; round size not public.
- linkedin.com/company/march-capital
- crunchbase.com/organization/march-capital-partners
- pitchbook.com/profiles/investor/63908-56
- businesswire.com/news/home/20250123857844/en/March-Capital-Strengthens
- hub.waveup.com/funds/march-capital
- variety.com/2016/digital/news/march-capital-240-million-vc-tech-fund-1
- privateequitylist.com/investors/march-capital-partners
- pitchbook.com/profiles/fund/19923-94F
Investing activity
March Capital appears in 1 AI deal tracked by the AI Lounge deals desk, rounds totalling $200M. The rounds are mostly Seed, with a median round size of $200M. The most recent is Lila Sciences (Seed, $200M, Mar 2025).
March Capital most often invests alongside Blue Horizon Advisors, General Catalyst, ARK Venture Fund and Modi Ventures, and the companies it backs on AI Lounge are mostly in AI.
Deals
Frequently asked questions about March Capital
Does March Capital invest in AI startups?
Yes. The firm describes AI-enabled enterprise software as a core focus, and public records show AI investments in Lila Sciences, Luminance and ASAPP.
What stages does March Capital invest in?
Public profiles list Seed, Series A, Series B and Series C+. The firm generally targets companies that already have product-market fit and are ready to scale.
How much does March Capital invest per deal?
PrivateEquityList lists a $10 million to $50 million ticket, while WaveUp reports a historical average check of $5.5 million. The sources conflict, so confirm the current range with the firm.
How large are March Capital's funds?
Its first fund closed at $240 million in 2016 and its fourth fund at more than $650 million. PrivateEquityList puts total assets under management above $1.65 billion across four funds.
Where is March Capital based?
The firm is headquartered in Santa Monica, California, at 725 Arizona Avenue, Suite 304.
What AI companies has March Capital invested in?
March Capital's AI investments include Lila Sciences. The 1 round on AI Lounge are listed on this page with amounts, dates and co-investors.
What stage does March Capital invest at?
In the rounds tracked on AI Lounge, March Capital has invested at Seed, with a median round of $200M.
Who does March Capital co-invest with?
March Capital's most frequent co-investors on AI Lounge are Blue Horizon Advisors (1 deal), General Catalyst (1 deal), ARK Venture Fund (1 deal), Modi Ventures (1 deal) and Abu Dhabi Investment Authority (1 deal).
How can founders reach March Capital?
Founders on AI Lounge can see March Capital's contact details in AI Investor Contacts (paid plans), check for a warm introduction through members who worked with the firm under Warm Paths, and add March Capital to their Investor Pipeline to track the conversation.