US fund Polaris Venture Partners has announced the closing of its fourth fund at $900m, proving that funds with solid track records can still find money.
The firm specialises in early and seed-stage funding across the full range of IT and medical technology sectors.
Terry McGuire, co-founder and managing GP of PVP, said: ‘Our success is in implementing our diversification strategy and we were very pleased with the response of our limited partners, who see the opportunities created by this dynamic market.’
One of the fund’s investors, Mark Regal of CSFB Customized Investment Group, said the experience of the Polaris team had made the fund ‘an extremely attractive proposition’.
Polaris now has around $2bn of funds under management.
Copyright © 2001 AltAssets