.406 Ventures

Liam Donohue

Co-Founder and Managing Partner

Liam has spent the past two decades as a venture investor, but he is perhaps most proud of his entrepreneurial activities – founding/co-founding four successful businesses, including two venture capital funds.

He started his career as a Principal at Foster Management, a venture investor focused on service industry investments; then co-founded Arcadia Partners, a fund focused on technology-enabled education companies; and finally, co-founded .406 Ventures with Larry and Maria. Over this time, Liam has invested over $130M of capital in 21 investments.

Along the way, Liam founded and took on CEO responsibilities for Business Intelligence Advisors, now a .406 portfolio company. This is where he gained an appreciation for the challenges and thrills of building a fast growing start-up company. 

Earlier in his career, Liam spent two years as an early employee of Booz•Allen & Hamilton’s Philadelphia office before spending the next several years opening and leading their office in Budapest, Hungary.

At .406, Liam leads all healthcare investments focusing on early-stage companies that offer systems, technologies and services that support clinical delivery. He also teams up with Graham on .406’s data and analytics investment practice, as well as overseeing fundraising and other .406 firm responsibilities. Liam has scar tissue/experience in green tech (an area of personal interest) and ed-tech.

Liam earned a BS in Chemistry from Georgetown University and earned an MBA from Dartmouth’s Tuck School of Business.

Sector Focus: Digital Health


.406’s Healthcare Investment Focus

Meet More of the .406 Team

  • How I want entrepreneurs to perceive me

    We have the same DNA

  • How I want entrepreneurs to perceive the .406 team

    An extension of their own team, only less cool

  • After work I’ll be


  • Worst fear

    That I won’t do something important

  • Favorite book

    My Antonia by Willa Cather – captures the transition from young and innocent to old and jaded

  • Favorite destination

    Warren, Vermont – especially in the late summer

  • What you’ll find me drinking

    Before noon: Coffee. After 6pm: wine. 12pm-6pm: is like a desert

  • Something I say all the time

    Believe it or not, I'm only 1/8 Irish

  • Favorite job

    Still this one!

  • Best part of the day

    6:00-7:00am after working out and before my daughters wake up - just me and my coffee

  • Favorite wheels

    Tesla…best car I’ve ever driven

  • Hidden talent

    I can shave, shower and dress in less than 3 minutes (verified by my daughters)

  • I can’t stop eating

    Ice cream; it’s really ridiculous

  • Most important lesson learned

    A good idea is only 2% of the success

  • Why I chose VC

    I was a terrible operator…and I always misspell entrepreneur

  • If I could go back in time, I would go to

    North America before the settlers — must have been a spectacularly beautiful place.

  • What makes you unique

    My birthmark – makes up for my otherwise very forgettable appearance

Liam's Portfolio


Acquired by

Acquired by




Better Life Partners

Visit the Site

Business Intelligence Advisors

Visit the Site

Acquired by

Acquired by





Acquired by

Acquired by


Acquired by

Acquired by