Polaris Venture Partners Announces First Investments From Its Sixth Fund

Thu Jul 14, 2011 9:01am EDT

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  BOSTON, MA, Jul 14 (MARKET WIRE) -- 
Polaris Venture Partners Fund VI LP, a $375 million fund which closed
last year, announced several of its first investments of 2011.

    Polaris will continue its successful strategy of diversification,
investing in the areas of technology, healthcare and growth-equity, with
a particular focus on taking early stakes in disruptive opportunities
that maximize return for its limited partners.

    Thus far in 2011, Polaris has 10 new investments across the three areas:
five in technology, four in life sciences and one in growth-equity.
Representative investments include:

    ReadyforZero: a debt management platform that, in its first couple of
months, has helped consumers monitor and begin to eliminate more than $42
million of credit card debt.

    DeNova Care: an early-stage health services company creating a new
paradigm for improving women's health. By integrating state-of-the-art
technology and specialized care management, working in close partnership
with health providers, they aim to enable better access and early
diagnosis to women about diseases, including certain forms of cancer.

    Seamless Receipts: enabling retailers to email sales receipts to their
customers while utilizing purchase history data for retargeting.

    Xtuit: a new start-up based on breakthrough science with broad-reaching
implications. The company is pursuing a novel approach to improving
existing drug therapy through technology that has the potential to
dramatically improve the translation of cancer drugs from animal models
to human studies. The company's scientific founders include a team that
Polaris has worked with before, and Alan Crane, a Polaris partner, will
serve as chairman.

    Digicert: a fast-growing, leading provider of high-assurance online
authentication services.

    Neuronetics: pioneering the use of transcranial magnetic stimulation
(TMS), a completely non-invasive form of neurostimulation, for the
treatment of depression.

    Biff Labs: a stealth technology startup focused on structuring social
data.

    "With Fund VI, we will continue our strategy of identifying compelling
opportunities, investing early and closely partnering with great
entrepreneurs and scientists," said Terry McGuire, Polaris General
Partner & Co-Founder. "We can point to successful businesses such as
Ironwood Pharmaceuticals and LogMeIn, and the explosive growth of such
emerging companies as Shoe Dazzle, as demonstration that this strategy is
a win-win for both entrepreneurs and LPs."

    In 2010, Polaris Venture Partners was the sixth-most active venture
capital firm in industry, investing in 53 deals, according to the
PricewaterhouseCoopers/National Venture Capital Association MoneyTree
Report. "As far as we can determine, Polaris VI was one of the ten
largest venture funds raised last year," added McGuire. During 2010,
Polaris' LPs experienced seven liquidity events, including: Alimera
(IPO), Asthmatx (acquired by Boston Scientific), Internet Brands
(acquired by Hellman & Friedman), Ironwood (IPO), LogMeIn (secondary
public offering), Sentillion (acquired by Microsoft) and Thing Labs
(acquired by AOL).

    About Polaris Venture Partners
 Polaris Venture Partners is a partnership
of experienced investors, operating executives and entrepreneurs. The
firm's mission is to identify, invest in and partner with seed, early
stage and middle-market businesses having exceptional promise, helping
them to grow into market-leading companies. Polaris invests in businesses
across a number of sectors including technology, consumer services, and
life sciences. Past Polaris-backed successes include: Adnexus (acquired
by BMS), Advanced Inhalation Research (acquired by Alkermes), Akamai
Technologies (AKAM), Allaire (ALLR, acquired by Adobe), Alnylam
Pharmaceuticals (ALNY), Asthmatx (acquired by Boston Scientific), Athenix
(acquired by Bayer), Glycofi (acquired by Merck), Ironwood (IRWD),
LogMeIn (LOGM), Momenta Pharmaceuticals (MNTA), Powersoft (PWRS, acquired
by Sybase), Solidworks, and TechTarget (TTGT). Its current portfolio
includes notable investments which include: Adimab, Art.com,
AscendHealth, e-Rewards, Focus Financial, LegalZoom, LivingProof,
MarkMonitor, ShoeDazzle and Quantcast. For more on the firm, its mission
and its portfolio companies: http://polarisventures.com.

    

Media Contact:
Anne Norris
Greenough Communications
617-275-6521
anorris@greenoughcom.com 

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