About two months ago, OpenView Venture Partners disclosed it was out raising its fourth fund. Today, the Boston-based growth-equity firm announced it has closed the fund, its fourth, at $250 million. The new close comes two-and-a-half years after OpenView closed its third fund at $200 million.
OpenView is in the growth-equity spectrum: Somewhere between venture capital and larger-cap categories of private equity, it typically invests $5 million to $20 million in tech companies that are booking revenue and are at least close to profitability.
In an announcement today, OpenView said the new fund, OpenView Venture Partners IV, was "oversubscribed"--though the $250 million dollar figure is exactly what Fortune's Dan Primack reported the firm was targeting, back in August.
In the announcement, OpenView named a handful of firms among its portfolio of 29: Mashery, AtTask, Instructure, Monetate, Spredfast, Kareo and Socrata.
Scott Maxwell is OpenView's founder and senior managing director. He touted the firm's sector and stage focus--but what makes OpenView stand out is its 15-person OpenView Labs, a sort of a white-shoe shop providing marketing and financial services consulting for companies in the OpenView portfolio. The Labs folks are heavy proponents of agile methodology and content marketing.
