Polaris closes Fund VII with $450M

Polaris Partners closed its oversubscribed seventh fund with $450 million, with about half to be invested in healthcare and the balance in technology. The firm typically invests $10-$20 million per company and plans to invest the new Polaris Partners VII in about 35-40 companies. Spokesperson Emily Mendell said Polaris already has made a few commitments from the fund, but declined to disclose details.

Since 2013, 10 Polaris healthcare portfolio companies have gone public, including cancer and drug delivery company Bind Therapeutics Inc. (NASDAQ:BIND), Orphan disease play Acceleron Pharma Inc. (NASDAQ:XLRN) and Receptos Inc. (NASDAQ:RCPT), which has a compound in Phase II/III for multiple sclerosis and Phase II for ulcerative colitis. ...