Polaris Partners raises $175m

The US-based private equity firm closes first growth fund at its hard-cap.

Polaris Partners‘ inaugural growth fund, Polaris Growth Fund I, has held a final close at its $175 million hard-cap. The fund will continue to pursue the firm’s strategy of investing in technology companies, including software, internet and technology-enabled services companies. Investments of between $10 million and $40 million in companies in North America will be targeted by the fund.

Massachusetts Pension Reserves Investment Management Board is among the investors in Polaris Growth Fund I and has committed up to $35 million to the vehicle.