# .406 Ventures

> .406 Ventures is a Boston early-stage venture firm named after Ted Williams' 1941 batting average - the last time anyone hit .400 in Major League Baseball. Founded in 2005, it leads and co-leads seed and Series A rounds in three lanes it knows cold: cybersecurity, healthcare, and data + AI. With more than $1.4 billion under management across five core funds and three opportunity funds, it backs founders it can help build into category-defining companies, and it counts Carbon Black, Veracode, CloudHealth, Iora Health, and AbleTo among its exits.

- **Founded:** 2005
- **Headquarters:** Boston, United States
- **Founders:** Liam Donohue (Co-Founder and Managing Partner), Maria Cirino (Co-Founder), Larry Begley (Co-Founder)
- **Team size:** ~14-20 investment and operating professionals
- **Products:** Early-stage venture capital, Opportunity funds, Executive Council, Operating support
- **Notable:** Grew to $1.4B+ under management across five core funds and three opportunity funds over ~20 years, Closed an oversubscribed Fund IV in 2019 and a $265M Fund V in February 2024, Early lead investor in exits including Carbon Black (VMware), Veracode (CA Technologies), CloudHealth (VMware), Iora Health (One Medical/Amazon), AbleTo (Optum), and Corvus (Travelers)

## Products & services

- **Early-stage venture capital** — Leads or co-leads seed and Series A rounds, typically writing checks of roughly $2M-$18M in cybersecurity, healthcare, and data + AI companies.
- **Opportunity funds** — Three dedicated funds used to double down with follow-on capital in the firm's highest-conviction portfolio companies as they scale.
- **Executive Council** — A network of 100+ Fortune 500 C-suite operators who advise portfolio companies, open enterprise doors, and pressure-test go-to-market and product.
- **Operating support** — Hands-on help with recruiting, customer acquisition, KPI and category strategy - the firm acts as an extension of the founding team through growth.

## Achievements

- Grew to $1.4B+ under management across five core funds and three opportunity funds over ~20 years
- Closed an oversubscribed Fund IV in 2019 and a $265M Fund V in February 2024
- Early lead investor in exits including Carbon Black (VMware), Veracode (CA Technologies), CloudHealth (VMware), Iora Health (One Medical/Amazon), AbleTo (Optum), and Corvus (Travelers)
- Built an active portfolio of 87 companies across three sectors

## Latest updates

- **2024-02** — Closed its fifth core fund with $265M in commitments to invest deeper in AI, cybersecurity, and healthcare.
- **2024-02** — Reported an active portfolio of 87 companies and made initial Fund V investments including Portrait Analytics.
- **2025-05** — Refreshed brand and website around the 'We go further together' positioning across cybersecurity, healthcare, and data + AI.

## Links

- Website: https://406ventures.com
- LinkedIn: https://www.linkedin.com/company/.406-ventures
- Twitter/X: https://x.com/406ventures
- Facebook: https://facebook.com/pages/406-Ventures/167431756670272

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Profile page: https://yespress.io/406-ventures
Published by YesPress — https://yespress.io
Last updated: 2026-08-16