Thursday, November 2, 2017

March Capital Partners Gets Exit As VMware Acquires VeloCloud

Santa Monica-based venture capital investor March Capital Partners has chalked up another exit in its enterprise software portfolio, after VMware said Thursday morning that it has acquired VeloCloud, a developer of cloud-based, software-definied, wide-area-network (SD-WAN) technology. March Capital Partners is an investor in VeloCloud, and led VeloCloud's Series C funding in January of 2016. March Capital's investment in VeloCloud was led by Sumant Mandal. VeloCloud Networks was based in Mountain View, and was backed by Hermes Growth Partners, Telstra Ventures and Khazanah Nasional Berhad, the strategic investment fund of the Government of Malaysia, plus New Enterprise Associates (NEA), Venrock, March Capital Partners, Cisco Investments, and others. VeloCloud was one of the first four investments from March Capital's new $240M fund.