(Reuters) — Venture capital firm Polaris Partners said today that it raised $450 million for its 7th fund, which will invest in healthcare and technology startups.
The firm will tap the new fund to invest in software companies, as well as a wide variety of healthcare startups in fields that include medical devices, biotechnology, health technolog, and health services, said Polaris spokeswoman Emily Mendell.
Polaris is known for backing Internet companies as LogMeIn, a remote-access software provider that went public in 2009, as well as online real-estate giant Trulia.
In a bid to meet the next generation of entrepreneurs, the firm launched communal workspaces called Dogpatch Labs in New York, San Francisco and other cities in 2009. It recently ramped up its Dogpatch Labs in Dublin, Ireland, where partner Noel Ruane is based.
The Boston-based firm raised $389 million for its 6th fund in 2011.