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OpenView announced on March 27, 2023, that it had closed its seventh fund at $570 million. The firm said Fund VII was 25% larger than Fund VI and would back global, expansion-stage business software companies. Later reporting raised questions about the firm’s investment activity, so the fund’s announced size and mandate are clearer than OpenView’s current operating status.
How much did OpenView raise for Fund VII?
OpenView announced a final close of $570 million on March 27, 2023. The firm described it as its largest fund to that point and a 25% increase over Fund VI. TechCrunch reported Fund VI’s size as $450 million, making that the relevant comparison for the new close. OpenView’s announcement and TechCrunch’s March 27, 2023 report distinguish the final amount from earlier fundraising figures.
| Figure | What it refers to |
|---|---|
| $570 million | Fund VII final close announced by OpenView on March 27, 2023. |
| $450 million | Fund VI size reported by TechCrunch on March 27, 2023. |
| $800 million | Hard cap reported by TechCrunch from a January 2022 SEC filing; it was a target, not Fund VII’s final size. |
| Just over $517 million | Amount reported by TechCrunch from a September 2022 filing, before the final close. |
The fund announcement also said OpenView had raised $2.4 billion across seven funds and had more than 60 portfolio companies. Those are firm-level figures stated at the time of the announcement, not a measure of Fund VII’s eventual performance.
What was Fund VII intended to invest in?
OpenView described its strategy as global, focused, and high-conviction, targeting expansion-stage business software companies. The announcement named four areas:
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- Infrastructure software
- Applications
- Cybersecurity
- Vertical software
OpenView said it was already making investments when it announced the close. Rewst, a robotic process automation company serving managed service providers, was identified as Fund VII’s first investment. TechCrunch also reported interest in automation, integrations, and workflow software; these were investment themes, not recommendations of particular products.
What did “expansion stage” mean in practice?
In a March 2023 interview with TechCrunch, OpenView partner Mackey Craven said the firm sought companies that had begun generating revenue. He discussed annual recurring revenue of $1 million to $10 million as a rough indicator, while also emphasizing product-market fit and readiness to scale. That range was interview context, not a published minimum, maximum, or eligibility rule.
Craven also characterized the firm’s approach as staying “relatively small and concentrated.” TechCrunch reported that OpenView had invested in 16 companies through Fund VI and that the firm expected Fund VII could support up to 20 companies over the following years. The 20-company figure was a contemporaneous expectation, not a verified final portfolio count. The announcement separately cited nearly 80 team members and a 2.5-to-1 ratio of people to portfolio companies; it did not define that ratio further.
What happened to OpenView after the close?
On December 6, 2023, Axios reported that OpenView had suspended investment in new companies and laid off most of its employees. Axios said the firm declined to comment and attributed some background details to sources. This is a report about the firm’s situation at that date, not proof of its status today. Axios’s December 2023 report provides that dated account.
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Is OpenView still investing?
The available information does not establish a definite current answer. OpenView’s LinkedIn company profile, accessed October 8, 2026, says the firm is actively investing out of Fund VII. That profile claim conflicts with Axios’s 2023 report of a suspension, and it does not show whether activity resumed or when the profile text was updated. The safest conclusion is that present investment activity remains unresolved. OpenView’s LinkedIn profile displays the active-investing claim.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the larger fund does—and does not—show
Fund VII was larger than Fund VI by the figures OpenView and TechCrunch reported, and the stated mandate remained expansion-stage business software. Fund size alone does not establish investment returns, the eventual number of portfolio companies, or the outcomes of those companies. The close is a fundraising milestone, not evidence of performance.
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