.406 Ventures
.406 Ventures is a uS venture capital firm managing multiple institutional investment funds.
Analyst Perspective
.406 Ventures is a private venture capital firm based in the United States. Based on the provided data, it operates as an active investment manager that raises committed capital from limited partners and deploys that capital through successive core funds. The business makes money primarily through fund management fees and performance-based carried interest on investment gains. Its direct customers are institutional and high-net-worth limited partners allocating capital to venture funds, while its portfolio companies are the recipients of investment capital and strategic support rather than the primary paying customers.
Analyst Signal Briefing
Updated: 18 Aug 2026.406 Ventures has bolstered its AI security and healthcare portfolios, participating in a $30 million Series C for InStride to scale specialised mental health programmes. The firm also backed Mindgard’s $30 million Series A, which identifies high-impact vulnerabilities in major AI applications. These developments, alongside previous investments in AI infrastructure startup Relai Inc. and ongoing healthcare expansions on the East Coast, reinforce the firm’s commitment to categorising and scaling resilient enterprise technology and clinical platforms.
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Key insights about .406 Ventures
Category Differentiation
.406 Ventures is a venture capital firm, not an adtech, martech or software operating company. It should be classified as an investor managing funds rather than as a portfolio company or agency.
.406 Ventures: About
The firm operates a venture capital model: it raises closed-end investment funds from limited partners, invests that capital into private companies, supports portfolio development over time, and seeks returns through exits and portfolio appreciation. Value is created through sourcing deals, selecting companies, helping them scale, and recycling fundraising momentum into subsequent funds.
How .406 Ventures Works & Monetises
Business model analysis and core revenue streams
The core monetisation model is fund management: recurring management fees charged on committed or managed capital, plus carried interest tied to investment performance and realised exits. Revenue therefore depends on assets raised, fund tenure, and eventual capital gains from successful portfolio outcomes rather than software subscriptions or transactional usage fees.
Revenue Channels
Recent Signals (.406 Ventures)
Mindgard Raises $30M Series A
The AI security startup’s technology has discovered over 150 publicly disclosed high-impact vulnerabilities in popular AI applications including OpenAI, Google, and Cursor
Read original sourceInStride Announces $30M in Series C Funding
InStride, the most trusted, insurance-covered specialty program for young people living with complex anxiety, OCD, and related disorders, raised a $30M Series C from new strategic investors Echo Health Ventures and FMZ Ventures, with continued participation from existing backers: .406 Ventures, Valtruis, General Catalyst, and Mass General Brigham Ventures.
Read original sourceRelai raises $6.9M to enable verifiable and continuous learning for AI agents
Artificial intelligence infrastructure startup Relai Inc. said today it has closed on $6.9 million in funding as it bids to ensure the reliability of autonomous AI agents for enterprises.
Read original source.406 Ventures: Frequently Asked Questions
What is .406 Ventures?
.406 Ventures is a private US venture capital firm that raises and manages investment funds for limited partners.
Who uses .406 Ventures?
Its direct customers are limited partners such as institutional investors and high-net-worth capital allocators, while portfolio companies receive investment and support.
How does .406 Ventures make money?
It primarily earns management fees on committed capital and carried interest from successful investment outcomes.
Company Facts
- Founded
- 2005
- Headquarters
- Independence Wharf, 470 Atlantic Avenue, 12th Floor, Boston, MA 02210
- Core Segment
- Private Equity, VC & Investor
- Company Size
- 10–49
- Official Link
- 406ventures.com