Episode #452: Liam Donohue - Co-Founder & Managing Partner, .406 Ventures

From The VentureFizz Podcast · 01:00:00

Show by VentureFizz

Episode 452 of The VentureFizz Podcast features Liam Donohue, Co-Founder and Managing Partner at .406 Ventures. I’ve had the opportunity to interview other partners at .406 Ventures like Payal, Kathryn, and Graham… but as .406 Ventures is celebrating a 20 year milestone for the firm, it was only fitting to interview Liam to discuss his career and reflect on the firm’s history and journey. Over the last two decades, the firm has raised more than $1.3 billion across five core funds and three opportunity funds, along with 100 investments. They’ve backed category-defining winners across cybersecurity, data and AI, and healthcare including iconic names like Carbon Black, CloudHealth, Veracode, Iora Health, and many others. But what I think helps to truly set .406 apart is that a third of their investments are with repeat .406 founders. In this episode, we cover: * Liam’s background story and how he got his career started. * How he discovered venture capital and ultimately founded Arcadia Partners, and backed early health innovators like HealthDialog. * The founding story of .406 Ventures and how Ted Williams’ approach to the plate inspired their disciplined investment focus. * A deep dive into the healthcare industry, plus use cases for AI. * The Series B funding landscape and why later rounds take on more a national flavor and what investors are expecting for growth metrics. * Why Boston remains an unmatched epicenter for startups. * And so much more! Podcast Sponsor First Citizens Innovation Banking serves innovative Tech, Healthcare and Life Science companies, including 50% of the Forbes 2026 Fintech 50, and 42% of the CNBC 2026 Disruptor List. With more than 1,500 bankers and relationship advisors and $48B in loans as of Q2 2026 – First Citizens Innovation Banking delivers expert guidance, specialized products and a team that knows the innovation economy inside and out. Learn more at innovation.firstcitizens.com. Where Silicon Valley Banks.

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