FinTech backer Polaris Partners picks fund size consistency with Fund IX launch

Polaris Partners, a buyout firm which has backed promising fintech startups in recent years, has launched its ninth flagship vehicle.

Investments by Polaris in the regtech sector have included DigiCert and doctrackers, while its other deals include committing capital to insurtech provider SimplyInsured.

The firm has now set out to raise up to $400m in its last three fundraises, although has ended up pulling past that amount with both Fund VII and VIII at final close.

The firm gathered $435m for the Fund VIII vehicle in 2017, and collected $450m for Fund VII according to data from LP investors the Irish Strategic Investment Fund.

Polaris is eyeing a similar amount for Fund IX according to a filing the firm lodged with the US SEC, which states a $400m goal amount.

No capital has been registered for Fund IX to date, the filing shows.

Polaris brought its assets under management past $4.3bn with the final close of Fund VIII two years ago, and has since raised a $175m growth vehicle – its first dedicated to the strategy.

The firm aims to back businesses ranging from startups to established, profitable concerns, with targets segments including transformative tech, bioscience, healthcare and services.

Recent exits for the firm include ending its four-year investment in enterprise subscription spend and usage software developer TRG Screen through a sale to fellow private equity house Pamlico Capital.

Copyright © 2019 RegTech Analyst

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