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Alternative Assets  + VC  |  March 30, 2023
OpenView Closes Seventh Fund at $570M Focused on “High-Growth Software Startups”
Joe Palmisano
By: Joe Palmisano

OpenView Closes Seventh Fund at $570M Focused on “High-Growth Software Startups”

Business software focused OpenView Venture Partners closed its seventh fund at $570 million, a 25% increase over the firm’s $450 million grab in 2020 and its largest to date.

Led by Scott Maxwell, Mackey Craven, and Blake Bartlett, the Boston-based venture capital firm will continue to deploy its funds on “high-growth software startups,” including infrastructure, applications, cybersecurity and vertical software.

“As we have for nearly two decades, we remain focused on identifying and supporting innovative business software companies in high-growth product markets primed for rapid expansion,” said Craven, partner at OpenView.

OpenView has raised $2.4 billion across its seven funds since its founding in 2006 and has partnered with more than 60 companies, including Datadog, Calendly and UserTesting, among others.

The new fund has already made its first investment in Rewst, a company engaged in robotic process automation for the managed service provider sector.

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OpenView Venture Partners

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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