Venture capital firm March Capital Partners of Santa Monica closed a $240 million fund on Tuesday to back dozens of technology start-ups worldwide.

The majority of the fund will be dedicated to Series A investments in enterprise-software companies, with the rest of the fund going towards Series B and Series C investments. About a third of the fund will be invested in Southern Californian companies.

“The majority of the fund is enterprise-focused, software-as-a-service type-businesses, such as machine learning, internet infrastructure, cybersecurity, internet of things, and big data businesses,” said Gregory Milken, co-founder and managing director of March Capital.

The venture capital firm has already invested more than $100 million in 15 companies including AppCito, Bridg, CarTrade, Dojo Madness, E8 Security, OpenHouse, and Pensa.

In addition to software-as-a-service-type businesses, March Capital will also be looking at investing in startups that are providing virtual reality and augmented reality services to businesses, said Milken.

“Training in VR environments would be interesting,” he said, adding that the company may also invest in content discovery and aggregation platforms.

Technology reporter Garrett Reim can be reached at greim@labusinessjournal.com. Follow him on Twitter @garrettreim for the latest in L.A. tech news.

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