406 Ventures

406 Ventures is a Boston-based venture capital firm founded in 2005 by Liam Donohue, Maria Cirino, and Payson Swaffield. The firm has spent two decades partnering with founders at the leading edge of healthcare, data and AI, and cybersecurity, typically leading or co-leading Series A rounds with initial checks in the $1M-$5M range and reserves for follow-on investment through Series B. .406 Ventures has raised more than $1.4 billion in committed capital across five core funds and three opportunity funds, most recently closing its fifth flagship fund, Point 406 Ventures V, at $265 million in February 2024. The firm has backed nearly 90 companies since inception, with a track record that includes several notable exits: AbleTo (acquired by Optum), Carbon Black and CloudHealth Technologies (both acquired by VMware), Health Dialog (acquired by BUPA), Iora Health (acquired by One Medical, later Amazon), MineralTree (acquired by Global Payments), Veracode (acquired by CA Technologies), and Corvus Insurance (acquired by Travelers). Beyond capital, the firm emphasizes hands-on operational support, drawing on its partners' own backgrounds as founders and operators. .406 Ventures maintains a deliberate East Coast concentration, leveraging deep regional networks in Boston's healthcare and cybersecurity ecosystems while selectively backing companies elsewhere. Recent and historical portfolio companies span Acquia, Brightcove, Flywire, Rapid7, RAD Security, Zocalo Health, BigHealth, Portrait Analytics, Laudio, and IntusCare, reflecting continued focus on enterprise-grade healthcare and AI infrastructure investments.