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Alternative Assets  + VC  | 
OpenView Closes Seventh Fund at $570M Focused on “High-Growth Software Startups”

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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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