Boston-based Polaris Partners has raised a new fund of $450 million, the venture capital firm announced Monday.
It's the seventh fund for the firm, and the amount is well above the firm's $375 million sixth fund. The amount also surpasses the $400 million that Polaris had initially been seeking for the new fund.
The firm will focus on both technology and healthcare investments, according to an email. "We are thrilled to embark on this next journey alongside extraordinary leaders who seek to make the world a better place," the firm said in the email.
Much of the success at Polaris has tied to its healthcare investing in recent years. Recent biotech IPOs that had Polaris as an investor include Acceleron, Genocea, Bind Therapeutics and Cerulean. Polaris was also an investor in T2 Biosystems—a hybrid of software, biotech and med device—and healthcare-focused IT security firm Imprivata, both of which went public this year.
