March Capital

The investment committee is anchored by Co-Founders and Managing Partners Sumant Mandal, Jamie Montgomery, and Gregory Milken. Mandal, a former partner at Clearstone Venture Partners, leads the firm's day-to-day investment process and has been the board designee for multiple portfolio companies including CrowdStrike prior to its public listing. The partnership operates with a consensus-driven model rather than a single-key CIO structure, reflecting the cross-domain expertise each co-founder brings to enterprise AI, technology banking, and institutional capital relationships.

March Capital maintains dedicated investment professionals in Santa Monica and Bengaluru, which is uncommon among US-headquartered venture firms. The India team operates as a full sourcing and portfolio support function, not merely a remote outpost. This structure allows the firm to identify Indian enterprise AI and SaaS companies at their earliest institutional rounds, while also helping US-based portfolio companies access engineering talent and go-to-market partnerships in India. The dual geography model generates proprietary deal flow that bypasses most Silicon Valley generalist firms.

March Capital operates across the venture-to-growth spectrum but structures itself as a venture capital firm with a concentrated, high-conviction model. It leads Series A through late-stage rounds in enterprise technology companies and has the capacity to write checks substantially larger than the median venture fund due to the scale of its limited partners — which include sovereign wealth funds and public pension systems. The firm's latest flagship fund closed at over $650 million in 2023, giving it flexible deployment capacity across stages.

Gregory Milken, a Managing Partner and Co-Founder of March Capital, is the son of financier Michael Milken. Gregory Milken's role at the firm is operational and investment-focused, not philanthropic or passive. The Milken family name brings significant institutional connectivity, but March Capital is not a family office — it manages commingled third-party capital from a range of large institutional limited partners and operates as an independent venture manager.

March Capital invests actively in both US-headquartered and India-headquartered enterprise technology companies. Its Bengaluru office originates direct investments in Indian AI, SaaS, and cloud infrastructure companies, and several of the firm's publicly known portfolio companies — including Uniphore — have significant Indian operations or were founded in India. The firm views India as a core pillar of its investment thesis, not a geographic side note.

March Capital concentrates on enterprise technology, with a particular focus on applied AI, cloud infrastructure, and industrial automation. It has not historically pursued consumer internet, social media, marketplaces, or capital-intensive hardware businesses. The firm's limited partner base and fund mandate favor B2B companies with recurring software revenue models and demonstrable technology moats, which effectively excludes sectors such as consumer packaged goods, traditional retail, and project-finance energy infrastructure from its purview.

March Capital raises closed-end, fixed-life venture capital funds. Its investor base is predominantly institutional, with named reports indicating backing from sovereign wealth funds, US public pension plans, and endowments, though the firm does not publicly disclose a full LP list. Fund IV, which closed in October 2023 with over $650 million, continues the firm's standard 10-year fund life and a management fee-and-carried-interest structure typical of venture capital partnerships.