OpenView Raises $450 Million for Sixth Fund
BOSTON, Oct. 14, 2020 – OpenView, a leading venture capital firm focused on business software, announced the closing of its sixth fund at the end of the second quarter. The Fund was oversubscribed, reaching its hard cap of $450 million in commitments.
OpenView will maintain its focused strategy of high conviction, concentrated venture investments in business software companies on the path to be large and enduring businesses.
“We are excited to continue to partner with the world’s most promising software companies,” said Mackey Craven, Partner at OpenView. “We are particularly enthusiastic about businesses like Datadog and Calendly that embrace product led growth, an end user-focused growth model that relies on the product itself as the primary driver of customer acquisition, retention and expansion. This approach not only leads to sound businesses, but to products that more directly impact people’s working lives.”
OpenView will manage Fund VI on behalf of a diverse group of endowments, pensions, foundations, and financial institutions, among other investors.
“We are deeply honored by the continued support of our world-class limited partners who have been with us for years, as well as those we have welcomed to the OpenView family as part of Fund VI, and we are grateful for their shared alignment in OpenView’s mission of improving people’s working lives,” said John McCullough, Partner and CFO at OpenView. “Fund VI allows us to further increase our support of the best founders and executive teams while continuing to position OpenView as the partner of choice for the world’s most promising business software companies.”
Since its founding in 2006, OpenView has raised $1.5 billion in commitments across six funds and has partnered with 54 companies, including Datadog, Calendly, Instructure, Expensify, Highspot, and Workfront, among others.
With nearly 60 team members and 29 active portfolio companies, OpenView maintains a two-to-one ratio of people to portfolio companies, ensuring the firm is able to provide a deep partnership and focused support as companies grow into large and enduring businesses.
Founded in 2006, OpenView is a venture capital firm investing globally in business software companies. With a mission to improve people’s working lives, OpenView’s focused investment approach across sector and stage enables the firm to identify and partner with category leading business software companies. The firm’s focus extends to operational excellence through its dedicated expansion team working with portfolio companies on go-to-market, sales and marketing, product led growth, talent, and corporate development. The firm is based in Boston and has $1.5 billion in total capital under management. For more information, please visit https://openviewpartners.com/.