BOSTON, MA -- (Marketwire) -- 12/18/12 -- .406 Ventures is pleased to announce the final closing of its second venture capital partnership, Point 406 Ventures II, L.P., with just over $175 million in capital commitments.

The fund exceeded its initial target of $175 million thanks to strong support from existing investors along with new commitments from other leading institutional investors including endowments, foundations, public and private pensions and family offices.

"We are gratified, in this challenging fundraising environment, to have earned the continued support from Fund I investors and we are very pleased to welcome several exceptional new investors to the team," remarked Liam Donohue, Founding General Partner. "We believe our success in raising Fund II is a testament to our disciplined early stage, enterprise information technology (IT) focus; the performance of our Fund I portfolio and the quality of our team."

Established in 2006, .406 Ventures is a Boston-based venture capital partnership focused exclusively on early stage, enterprise IT companies. .406 has a particular focus on companies in the IT security, healthcare IT and web infrastructure spaces. .406's team includes Founding General Partners Larry Begley, Maria Cirino and Liam Donohue and Principals Graham Brooks and Greg Dracon.

Maria Cirino, Founding General Partner, commented, "We could not be more excited to be investing Fund II in this environment. We are finding that the quality of the ideas and entrepreneurs in the enterprise technology space have never been better."

Larry Begley, Founding General Partner, added, "We believe that the support for .406 II is also a positive indication of investors belief that Boston remains a vibrant market for venture capital investing, especially in the areas where .406 focuses."

About .406 Ventures: .406 Ventures is an early-stage venture capital firm that invests in innovative information technology and services companies founded by the finest entrepreneurs. .406 Ventures is led by a veteran team of industry entrepreneurs, operators and investors who apply real-world experience, deep industry knowledge and networks, and strong company-building skills to create value for entrepreneurs and investing partners. .406 Ventures is typically the lead, first institutional investor, in early-stage and de novo investments in market-changing IT security and infrastructure, with a particular focus on healthcare IT, Big Data, cloud and mobile software companies.