May 15, 2023
This website is not an advertisement. This website is intended solely to provide general business information on Polaris Growth Management, L.L.C., North Star Venture Management 2010, L.L.C., LS Polaris Innovation Fund Management, L.L.C., any affiliates thereof (collectively, “Polaris”). Nothing on this website should be construed as an offer of investment advisory services by Polaris or a solicitation or an offer of interests in any Polaris fund.
An offer regarding any Polaris fund may only be made after receipt of a confidential private placement memorandum concerning a particular fund and the opportunity to discuss all matters concerning any prospective investment. This website is not intended for prospective investors in Polaris funds and does not provide information material to an investor’s decision to invest in any Polaris fund, including, but not limited to, risk factors. For such information, investors should refer to the relevant fund’s private placement memorandum.
Visitors to this website are not to construe the contents of this website or any prior or subsequent communication from Polaris or any of its representatives, as legal, tax or investment advice. References to specific companies are for illustrative purposes only and do not represent all of the companies recommended for advisory clients. Such references are not intended to be, and should not be interpreted as, recommendations or investment advice. All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed, and Polaris disclaims any duty to update any of the information and data contained herein.
The information contained on the website may include certain historical investment performance information and forward-looking statements relating to the Polaris funds as well as to their underlying portfolio companies. Forward-looking statements are not guarantees of the underlying expected actions or future performance and future results may differ significantly from those anticipated by the forward-looking statements. Past performance does not guarantee future results, and there can be no assurance that future performance will be comparable to past performance.
PORTFOLIO COMPANY REFERENCES
References to Polaris portfolio companies include select current and former investments made directly and indirectly by the Polaris Main Funds and may include co-investments with the Polaris Growth Funds and the Polaris Innovation Funds (as each is defined below).
References to Growth portfolio companies on this website include (i) investments made by the Polaris Growth Funds and (ii) investments made by the Polaris Main Funds utilizing a growth buyout strategy and led by Bryce Youngren and/or Dan Lombard. The investments made by the Main Funds were not made in the context of a single fund or account with coordinated objectives, guidelines, and restrictions. There can be no assurance that the investments made by the Polaris Growth Funds will have the same characteristics or results as the growth investments made by the Polaris Main Funds.
“Former” portfolio investments are those for which the applicable fund(s) have received all upfront consideration owed with respect to the liquidation transaction, but may include investments where the applicable fund(s) have rolled over a portion of their investment into the buyer entity and/or where future consideration is still be owed.
All such references are for illustrative purposes only and do not represent all portfolio companies. A full list can be found here.
Unless noted otherwise, references on the website to the “Polaris Main Funds” represent the North Star Venture Management 2010, L.L.C. main funds (i.e., Polaris Venture Partners I, L.P., Polaris Venture Partners II, L.P., Polaris Venture Partners III, L.P., Polaris Venture Partners IV, L.P., Polaris Venture Partners V, L.P., Polaris Venture Partners VI, L.P., Polaris Partners VII, L.P., Polaris Partners VIII, L.P., Polaris Partners IX, L.P., Polaris Partners X, L.P. and Polaris Healthcare Technology Opportunities Fund, L.P., as well as any alternative investment vehicles and side funds).
Polaris Growth Fund I, L.P. (“PGF I”) and Polaris Growth Fund II, L.P. (“PGF II,” and together with PGF I, the “Polaris Growth Funds”) are specialized affiliate funds of Polaris Partners that are managed by their adviser, Polaris Growth Management, L.L.C. The Polaris Growth Funds make levered recapitalizations of software and technology-enabled services companies across a variety of industry verticals.
LS Polaris Innovation Fund, L.P. (“LSPIF”) and Polaris Innovation Fund II, L.P. (“PIF II,” and together with LSPIF, the “Polaris Innovation Funds”) are also specialized affiliate funds of Polaris Partners that are managed by their adviser, LS Polaris Innovation Fund Management, L.L.C.
The endorsements of current or past portfolio company executives are provided as illustrative examples and designed to demonstrate the benefits to portfolio companies of partnering with us. These statements are primarily aimed at prospective portfolio companies and not intended to solicit investors. The portfolio companies covered in these endorsements do not represent all portfolio company investments we have made. The experiences highlighted in these testimonials are solely those of the executives profiled and may not necessarily represent or be indicative of the current, past, or future experiences of other portfolio companies. Past results and experiences discussed are not indicative, or a guarantee of future results and experiences. We have not provided cash or other type of compensation in exchange for receiving these endorsements. We do not believe there are typically any material conflicts associated with providing these endorsements. The compensation of our portfolio company executives is primarily driven by the performance of their respective portfolio companies and any discretion we exercise in such compensation determinations is not influenced by whether an executive has provided a favorable statement. Additionally, the economic interests of our portfolio companies’ executives are generally well-aligned with ours and those of our investors. Nevertheless, the fact that these endorsements have been provided by individuals whose compensation we exercise a certain level of control over may incentivize them to provide favorable evaluations of their experiences working with us.
OTHER DEFINITIONS AND DISCLOSURES
Entrepreneur Partners and Executive Partners are portfolio company support providers, and any compensation received by an Entrepreneur Partner or Executive Partner from a fund or a portfolio company will not be treated as fees subject to the management fee offset. Entrepreneur Partners and Executive Partners may also receive certain compensation which is treated as a Management Company expense.
Repeat Entrepreneurs are individuals who, with respect to each of two or more portfolio companies of the Polaris Main Funds (including indirect investments via Polaris Partners LSPIF Investment Company, LLC, Polaris Partners LSPIF Investment Company II, LLC, and Polaris Partners PIF Investment Company III, LLC): (a) played a pivotal role impacting Polaris’ initial investment, the formation, strategy, trajectory, direction, and/or successful outcome of such portfolio company; and (b) served in the capacity as a founder, Chief Executive Officer, senior executive employee, member of the board of directors, or chairman of the board of directors of such portfolio company. Repeat Entrepreneurs who are not also Entrepreneur Partners are not employees of Polaris and are oftentimes employees of portfolio companies and/or receive other compensation from portfolio companies. Any compensation received by a Repeat Entrepreneur from a portfolio company will not be treated as fees subject to the management fee offset.
Other Definitions Used Herein:
“IPOs” includes companies that were originally private investments in the Polaris portfolio prior to filing for initial public offerings.
“Exits” includes both public and private companies in the Polaris portfolio for which a majority of the Polaris securities were acquired in a merger or acquisition by third party.
“Therapies to Market” reflects healthcare therapies and devices to market, including FDA product approvals, by Polaris portfolio companies since the firm’s inception (1996) through Q4 2022.
All Polaris figures and statistics on this website are as of Q4 2022.
If you have any questions or comments about these disclosures, please do not hesitate to contact us at: email@example.com.