Polaris Partners announced this morning that it has raised $450 million for its seventh fund, an amount which exceeded its own expectations. In its last round of funding, it raised $375 million.
The venture capital firm had anticipated it would raise $400 million in its SEC filings earlier this year, but their efforts were bolstered by the recent string of health care IPOs that have helped that have helped to strengthen the sector.
Polaris announced that the fund would be supporting the work of both health care and technology companies, a move that plays against the recent decision by Atlas Ventures to divide and conquer the two areas. In the e-mail statement released this morning, it’s clear that they’re confident about the possibilities that the new round will provide them:
Each new fund brings great opportunity to the world around us. Polaris Partners VII marks our ongoing commitment to advancing novel ideas and building breakthrough companies. True partnerships matter – and we are thrilled to embark on this next journey alongside extraordinary leaders who seek to make the world a better place.
Janelle Nanos is the editor of BetaBoston. Send her tips or say hello at firstname.lastname@example.org.
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