Based in the firm's San Francisco office, McBride will focus on investing in early-stage enterprise technology companies.
A total of 25 women-led venture funds have raised a combined $1.9 billion this year, according to Venture Capital Journal research.
Harpoon closed on about $125m, with commitments from the Illinois Municipal Retirement Fund and Los Angeles Fire & Police Pension System, but fell short of its $225m target.
Want to be a talent magnet? These veteran VCs say mentoring, 'passing the ball' and sharing carry equally are key.
Fund III's investors include CalSTRS, the Grantham Foundation, the University of California, Sobrato Capital, Strategic Investment Group and Northwestern University.
The firm sent a letter to investors that says its partners 'are planning to come back with a new strategic plan within a 180-day period,' an LP tells Venture Capital Journal.
One LP says the 17-year-old firm did not give them a heads up, while OpenView’s LPAC did not learn about the move until half an hour before the news broke.
The deal, which hit the market in November, could total more than $1 billion depending on its final structure, sources say.
The corporate venture firm invests in minimally invasive healthcare companies targeting diagnostics, med tech, therapies and digital health.
Companies that make it easier for property owners to manage their portfolios and address serious societal issues in real estate are expected to fare better in a tougher market, say VCs.