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.406 Ventures is a venture capital firm founded in 2005 and based in Boston, Massachusetts. The firm has grown to manage over $1.4 billion in assets across five funds, with the latest, Fund V, raising $265 million in February 2024. Since its inception, .406 Ventures has invested in 98 portfolio companies, demonstrating a strong commitment to early-stage investments.
The firm specializes in sectors such as healthcare technology, data and AI, and cybersecurity, focusing primarily on companies located on the East Coast of the United States and in the United Kingdom. With a team of 27 professionals, .406 Ventures emphasizes building meaningful relationships with founders to help transform their companies into successful enterprises.
.406 Ventures targets early-stage investments, specifically in the following sectors: healthcare technology, data and AI infrastructure, and cybersecurity. The firm typically engages with companies during their seed and Series A financing stages, providing initial check sizes ranging from $2 million to $10 million. Their investment strategy emphasizes innovations in care delivery, AI-driven solutions, and cybersecurity technologies.
The firm looks for founders who demonstrate a strong vision and the ability to execute their ideas. They prefer to invest in companies that are addressing significant challenges within their sectors, particularly those that can leverage data and technology to create impactful solutions.
.406 Ventures has a diverse portfolio of 98 companies, including notable exits and ongoing investments. The firm has achieved significant success with 36+ acquisitions, 2 IPOs, and 1 unicorn. Key portfolio companies include:
Other notable exits include Shazam (acquired by Apple), CloudHealth (acquired by VMware), and Carbon Black (acquired by VMware).
Liam Donohue - Co-Founder and Managing Partner. Liam has extensive experience in venture capital and has led numerous successful investments in healthcare and technology.
Graham Brooks - Partner. Graham specializes in early-stage investments and has a strong background in technology and healthcare.
Payal Agrawal Divakaran - Partner. Payal brings expertise in data and AI, focusing on innovative solutions in these sectors.
Greg Dracon - Partner. Greg has a background in cybersecurity and technology investments, contributing to the firm’s focus in these areas.
Trip Hofer - Venture Partner. Trip has significant experience in operational roles within startups and provides valuable insights to portfolio companies.
Kathryn Taylor Reddy - Principal. Kathryn focuses on healthcare investments and has a strong track record in the sector.
Kevin Wang - Principal. Kevin specializes in data and AI investments, helping to identify promising startups in this space.
Rebecca Redfield - Senior Associate. Rebecca supports the investment team with due diligence and portfolio management.
Marin Lang - Senior Associate. Marin assists in evaluating new investment opportunities and supporting portfolio companies.
Austin Kwoun - Analyst. Austin conducts market research and analysis to support the investment team.
Joe SantaBarbara - Chief Financial Officer. Joe manages the firm’s financial operations and reporting.
Joanna Skoler Gilman - Chief Marketing and Communications Officer. Joanna oversees the firm’s marketing and communications strategies.
So-June Min - Managing Director of Operations. So-June manages the firm’s operational functions and team dynamics.
Esther Dominguez - General Counsel. Esther provides legal guidance and support for the firm’s investments.
Kelci Horan - Office Manager and Executive Assistant. Kelci supports the team with administrative functions and office management.
Startups interested in pitching to .406 Ventures should submit their proposals through the firm’s website at 406ventures.com. The pitch deck should include a clear overview of the business model, market opportunity, and team background. Founders can expect a response within a few weeks, and warm introductions are preferred but not mandatory.
.406 Ventures runs several programs to enhance its engagement with startups. The **Executives in Residence (EIR)** program allows senior executives to work closely with startups, assisting with deal sourcing, due diligence, and portfolio support. Since its inception in 2012, 22 EIRs have participated, with 5 transitioning into C-level roles within .406 portfolio companies.
The firm also hosts **Executive Councils**, which consist of industry leaders from healthcare, data and AI, and cybersecurity. These councils facilitate discussions on emerging trends and challenges, providing valuable insights to portfolio companies.
On December 1, 2025, .406 Ventures made its latest investment, continuing its active engagement in the venture capital space. Over the past 12 months, the firm has completed 8 investments, demonstrating its commitment to supporting early-stage companies in its focus sectors.
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What are the investment criteria for .406 Ventures?
.406 Ventures focuses on early-stage companies in healthcare, data and AI, and cybersecurity. They typically invest during seed and Series A rounds, with check sizes ranging from $2 million to $10 million.
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How can startups apply or pitch to .406 Ventures?
Startups can pitch to .406 Ventures through their website at 406ventures.com. They encourage founders to provide a clear vision and demonstrate the potential impact of their solutions.
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What makes .406 Ventures different from other VC firms?
.406 Ventures has a strong focus on healthcare technology and cybersecurity, backed by deep domain expertise and a robust network on the East Coast. Their successful track record includes over 36 acquisitions and notable exits.
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What is the geographic scope of .406 Ventures?
The firm primarily focuses on startups located in the United States and the United Kingdom, particularly those on the East Coast.
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What kind of post-investment involvement does .406 Ventures have?
.406 Ventures provides ongoing support to portfolio companies, leveraging their extensive network and expertise to assist with growth and strategic decisions.
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