Polaris Partners has held the first and final close for Polaris Growth Fund I, with USD175 million to continue the firm’s successful track record of investing in profitable technology companies, including software, Internet and technology-enabled services companies.
Polaris Partners closes first-ever Growth fund with USD175 million to continue track-record of helping grow profitable software and technology-enabled services businesses.
The Polaris Growth Fund is led by Managing Partner Bryce Youngren and Partner Dan Lombard. The team has collectively led 15 Polaris growth investments, which have been made from Polaris’ diversified funds. The Polaris Growth team consists of six dedicated professionals with an accomplished track record of investing in later stage technology companies. The fund is also supported by the broader Polaris team and includes limited partner commitments from Managing Partners Brian Chee, Amir Nashat, and Dave Barrett, and Polaris Founding Partners Terry McGuire and Jon Flint. Additionally, Brian Chee serves as an active member of the Growth investment committee, along with Youngren and Lombard.
“We are thrilled with the firm’s debut growth fund closing at its hard cap with significant participation from existing Polaris investors,” says Youngren. “We are tremendously thankful to the entrepreneurs and management teams we have partnered with in the past that have helped us get to where we are today, and we look forward to pursuing compelling investment opportunities and partnering with great founders and executives with this new fund.”
Polaris Growth invests in profitable technology companies, including software, Internet and technology-enabled services companies. The firm will continue to partner with fast-growing companies in a variety of industry sub-sectors, including healthcare, education, government, financial services, transportation and logistics. The fund will target investments of USD10-USD40 million per company and will focus on businesses in North America. Past portfolio companies include Research Now (sold to Court Square Capital Partners), Digicert (sold to TA Associates), Liaison International (sold to Warburg Pincus), Dealer Spike (sold to True Wind Capital Partners), National Electronic Attachment (sold to Accel-KKR), and Xpressdocs (sold to Reynolds & Reynolds).
Polaris Growth works collaboratively with management teams, provides access to its proprietary network of growth and industry experts, encourages interaction with Polaris’ broad portfolio of investments, and supports add-on acquisitions with firm resources and incremental capital.
