Terms of Use

Updated as of June 2022



Welcome to the Polaris Growth Management, L.L.C., North Star Venture Management 2010, L.L.C. and LS Polaris Innovation Fund Management, L.L.C. (collectively, “Polaris Partners”) website. This website contains information about Polaris Partners, its funds and its affiliates. For the purposes of these terms, and the related disclosures described herein, these entities are herein and collectively referred to as “Polaris” or “we”. By accessing or using this website, you acknowledge that you have read these Terms of Use in their entirety and agree to abide by them.  These Terms of Use, which incorporate our Privacy Policy, constitute a legally binding agreement (the “Agreement”) between you and Polaris and govern your access and use of the website.


By accepting these Terms of Use, you represent and warrant to Polaris that you are authorized to enter into this Agreement.  If you do not accept these conditions, do not use this website.  Polaris may change, add or remove portions of the Terms of Use from time to time and any modifications will be effective immediately upon posting unless we indicate otherwise.  Your use of the website indicates your full acceptance of these Terms of Use in its then current form each time you access the website.  We suggest that you review these Terms of Use periodically for changes.



Unless noted otherwise, references on the website to the “Polaris Main Funds” represent the funds managed by North Star Venture Management 2010, L.L.C. (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).


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 specialized affiliate funds of Polaris Partners that are managed by their adviser, LS Polaris Innovation Fund Management, L.L.C.


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 also 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.



The website contains general information about Polaris and its portfolio and is directed at entrepreneurs interested in partnering with Polaris and for individuals considering possible employment with Polaris.  Nothing on this website is an offer or solicitation to buy or sell any security, including, without limitation, any interested in any investment vehicles managed by Polaris or any company in which Polaris, any Polaris fund, or any of their respective affiliates, have invested.  Although the website may include investment-related information, nothing on this website is a recommendation that you purchase, sell or hold any security or other investment, or that you pursue any investment style or strategy.  Nothing on this website is intended to be, and you should not consider anything on the website to be, investment, accounting, tax or legal advice.


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.


The website may include current and historical portfolio companies. Such references are for illustrative purposes only and do not represent all Polaris portfolio companies. A full list can be found here


The information contained in 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 is not indicative of future results and there can be no assurance that future performance will be comparable to past performance.



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 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 compensation from portfolio companies. Any compensation received by an Entrepreneur Partner from a portfolio company will not be treated as fees subject to the management fee offset.


Strategic Acceleration Group (“SAG”) individuals are employees of Polaris who provide finance, corporate development, sales acceleration and other support services (the “Operating Advisor Services”) directly to the portfolio companies of the Polaris Growth Funds on behalf of the SAG business. The SAG business pays such individuals compensation for their Operating Advisor Services and bear expenses related to the provision of such services and operating the SAG business (such amounts, the “Operating Advisor Business Costs”). The SAG business has and expects to continue to charge portfolio companies for such Operating Advisor Services (any such payments, “Operating Advisor Portfolio Compensation”), provided that over the term of any Polaris Growth Fund, Operating Advisor Portfolio Compensation shall not exceed Operating Advisor Business Costs. In the event that the aggregate Operating Advisor Portfolio Compensation received by the SAG business during the term of a Polaris Growth Fund fund exceeds the amount of Operating Advisor Business Costs borne by the SAG business (such excess amount, the “Operating Advisor Services Net Income”), the management fee payable by such fund will be reduced by the amount of any such Operating Advisor Services Net Income.


Growth Experts 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 Growth Expert from a portfolio company will not be subject to offset against management fees.


Other Definitions Used Herein:

“IPOs” includes companies that were 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 Q1 2022.


All Polaris figures and statistics on this website are as of Q1 2022.



All content included on this website, such as documents, charts, graphics, logos, articles and other materials, is the property of Polaris or others and is protected by copyright and other laws. All trademarks and logos displayed on this website are the property of their respective owners, who may or may not be affiliated with Polaris.



You may not access the website or use the information contained in the website for any illegal purpose or in any manner inconsistent with these Terms of Use.  You agree to access the website and use the information contained therein solely for your own noncommercial use and benefit, and not for resale, redistribution or other transfer or disposition to, or use by or for the benefit of, any other person or entity.  You agree not to use, transfer, distribute or dispose of any information contained in the website in any manner that could compete with the business of Polaris or its portfolio companies.


You may not decompose, decompile, reverse engineer, disassemble or otherwise deconstruct all or any portion of this website. You may not publish, broadcast, retransmit, reproduce, repackage, commercially exploit, create any derivative of or otherwise redistribute all or any portion of the website except as explicitly permitted in these Terms of Use.



Information on the website speaks only as of the date indicated.  While we make reasonable efforts to provide accurate information, at times we may not promptly update or correct the website even if we are aware that it is inaccurate, outdated or otherwise inappropriate.  You agree that we are not responsible for any action that you take or decision you make in reliance on any information contained in the website.



While we make commercially reasonable efforts to ensure that the website is secure, we do not guarantee the security of the website or your communications with us through the website. Electronic communications can be intercepted by third parties and, accordingly, transmissions to and from this website may not be secure.  Communications to Polaris, particularly those containing confidential information, may be sent by mail to: Polaris Partners, One Marina Park Drive, 10th Floor, Boston, MA 02210, attn: General Counsel.  Polaris shall be free to use, for any purpose, any ideas, concepts, know-how, or techniques provided by you to Polaris through this website.



Please note that these Terms of Use apply only to this website and not to other websites that may be accessible from this website via hyperlink.  We are responsible only for the content of our own website and we have no control over other websites that may be accessible from this website, the contents therein or the products/services offered thereby.  If you access any third party website through our website or otherwise, you do so at your own risk. Hyperlinks to or from this website do not constitute third party endorsement of, sponsorship by or affiliation with us.  We encourage you to review the privacy policies and user agreements of all other websites that you visit as such policies and agreements will govern your use of those websites.



Due to the global nature of the Internet, this website may be accessed by users in countries other than the United States.  We make no warranties that materials on this website are appropriate or available for use in such locations.  If it is illegal or prohibited in your country of origin to access or use this website, then you should not do so.  Those who choose to access this site outside the United States do so on their own initiative and are responsible for compliance with all local laws and regulations.  In addition information collected from users outside the United States may be transferred to the United States and other countries.



You acknowledge that we provide the contents of this website on an “as is” basis with no warranties of any kind.  We disclaim all representations and warranties, express or implied of any kind with respect to the website, including warranties of merchantability, fitness for a particular purpose and non-infringement of intellectual property and proprietary rights.  Without limiting the foregoing, we do not warrant the availability, accuracy, completeness, timeliness, functionality, reliability, speed or delivery of the website or any part of the information contained in this website. Your use of this website and use or reliance upon any of the materials on it is solely at your own risk.



Neither we nor any of our agents, members, managers, officers, directors or employees are responsible for any damages, liabilities or injury, including but not limited to direct, indirect, incidental, special, exemplary, punitive or consequential damages, or for any lost profits or losses, however caused, arising out of your use of (or inability to use) this website, whether arising under this Agreement or otherwise. Our liability is limited to the maximum extent permitted by law and is limited even if we have been advised of the possibility of the damages, liability or injury that you suffer or if any remedy you have fails of its essential purpose, including any damages, liabilities or injury caused by any failure of performance, error, omission, interruption, defect, delay in operation, computer virus, line failure, or other computer malfunction.


In exchange for using this website, you agree to indemnify and hold Polaris, our agents, members, directors and employees harmless against any and all claims, losses, liabilities, costs and expenses (including, but not limited to, attorneys’ fees) arising from your use of this website or your violation of this Agreement.  In addition, you understand and agree that your use of this website is predicated upon your waiver of any right to sue Polaris, our agents, members, managers, officers, directors and employees directly or to participate in a suit for any losses or damages resulting from your use of this website.


Notwithstanding the foregoing, nothing contained in preceding paragraphs or elsewhere in this Agreement shall constitute a waiver by you of any of your legal rights under applicable U.S. federal securities laws or any other laws whose applicability is not permitted to be contractually waived.



Polaris may terminate your access to this website for any reason, without prior notice.  The Agreement shall survive any termination or expiration of your access to the website.



The laws of the Commonwealth of Massachusetts, without regard to its principles of conflict of laws, will govern this Agreement (including any disputes concerning or related to this Agreement). You hereby expressly agree to submit to the exclusive personal jurisdiction of the federal and state courts sitting in Boston, Massachusetts for the purpose of resolving any dispute relating to your access to or use of the website.   You agree to bring any claim solely in your individual capacity and you expressly waive any right to bring any claim as part of a group or as a class action.



If any provision of the Agreement is deemed unlawful, void, or for any reason unenforceable, than that provision will be deemed severable from the Agreement and will not affect the validity and enforceability of the remaining provisions.  The Agreement constitutes the entire agreement and understanding between you and Polaris, and supersedes any prior agreement and understandings with respect to your access to or use of the website.


Privacy Policy

Updated as of October 2020



Polaris respects your privacy. Whether you deal with us as an investor, entrepreneur or member of the general public, you are entitled to the protection of your personal data. The aim of this privacy policy (this “Privacy Policy”) is to describe how and why we collect your personal data.  We will also inform you of what we do with this data, with whom we share it, how we protect it and the choices you can make.


This Privacy Policy applies only to the processing of your personal data in the framework of this website and marketing actions targeting users of this website which are provided or operated by us or on our behalf. This Privacy Policy does not apply to the privacy practices of companies we do not control (including any portfolio companies), nor to any information obtained or collected in connection with a separate business relationship with Polaris or our affiliates, including as an investor in any Polaris investment funds, an employee of Polaris’ portfolio companies or as a service provider.  This Privacy Policy will also contain general rules and explanations regarding this processing.


This Privacy Policy applies to all your personal data collected by (or on behalf of) Polaris through this website.


Who is responsible for the processing of your data?

We have offices in the United States of America. We will be considered the Data Controller of the information collected through the website.


Should you wish to contact our offices, they may be found at:


One Marina Park Drive, 10th Floor, Boston, MA 02210

One Letterman Drive, Suite C3600, San Francisco, CA 94129

150 West 28th Street #904, New York, NY 10001


Who can you contact if you have questions or requests?

Our Data Protection Contact Point will handle any questions or requests relating to this Privacy Policy, any specific privacy notice or your personal data and its processing.


For any questions, requests, complaints concerning the application of this Privacy Policy, or to exercise your rights, as described in this Privacy Policy, you may contact us at the Data Protection Contact Point:


Address: One Marina Park Drive, 10th Floor, Boston, MA 02210

Phone: (781) 290-0770

Email: investorrelations@polarispartners.com


Key Principles

We value the personal data entrusted to us and are committed to processing your personal data in harmony with the data protection laws and regulations to which Polaris is subject, including the EU General Data Protection Regulation and the California Consumer Privacy Act (“Data Protection Laws”). The terms “personal data” and “personal information,” as used herein, refers specifically to information that identifies a visitor to this website (which may include information referred to as “Personal Information” under the California Consumer Privacy Act (“CCPA”)).


We will aim to adhere to the following key principles:


Lawfulness: We will only collect your personal data in a fair, lawful and transparent manner.


Data minimization: We will limit the collection of your personal data to what is directly relevant and necessary for the purposes for which they have been collected.


Purpose limitation: We will only collect your personal data for specified, explicit and legitimate purposes and not process your personal data further in a way incompatible with those purposes.


Accuracy: We will keep your personal data accurate and up to date.


Data security and protection: We will implement technical and organizational measures to ensure an appropriate level of data security and protection considering, amongst other things, the nature of your personal data to be protected.  Such measures provide for the prevention of any unauthorized disclosure or access, accidental or unlawful destruction or accidental loss, or alteration and any other unlawful form of processing.


Access and rectification: We will process your personal data in line with your legal rights.


Retention limitation: We will retain your personal data in a manner consistent with the applicable Data Protection Laws, and no longer than is necessary for the purposes for which it has been collected.


Protection for international transfers: We will ensure that any of your personal data transferred outside the EEA is adequately protected.


Safeguards towards third parties: We will ensure that personal data access by, and transfers to, third parties are carried out in accordance with applicable law and with suitable contractual safeguards.


Processing your personal data


Automatically collected information

Polaris may collect information during your visit to the website through automatic data collection tools, which may include cookies (see below for more information on cookies) and other commonly used information-gathering tools. These tools collect certain information that your browser sends to our website such as your browser type and language, access times, and the address of the website from which you arrived at the Polaris website. They may also collect information about your Internet Protocol (IP) address and clickstream behavior (i.e. the pages you view, the links you click, and other actions you take in connection with the website), geolocation data, and information about your device.  Polaris may also share this information in aggregate form (i.e., that cannot reasonably identify a particular individual) with third parties for business purposes, such as service providers and consultants to Polaris.


Legal basis for processing

We will only process your personal data lawfully and will explain the specific legal basis for which we process your data within this Privacy Policy. Please note that in accordance with applicable Data Protection Law, your personal data can be processed if:

      • you have given us your consent for the purposes of the processing; or
      • it is necessary for the performance of a contract to which you are a party; or
      • we have a legitimate interest that is not outbalanced by your privacy rights; or
      • it is required under a legal obligation to which we are bound.

For the avoidance of doubt, you will always have the right to withdraw your consent at any time.


Protecting your personal data

We have a set of reasonable technical and organizational security measures in place to protect your personal data against unlawful or unauthorized access or use, as well as against accidental loss or damage to its integrity. They have been designed by taking into account our IT infrastructure, the potential impact on your privacy, the costs involved and the current industry standards and practice.


Our data security procedures include: access security, backup systems, monitoring, review and maintenance, management of security incidents and continuity. Your personal data will only be processed by a third-party Data Processor if they agree to comply with those technical and organizational data security measures.


Use of cookies or similar devices

We may use cookies on our website.  This helps us to provide you with a better experience when you browse our website and also allows us to make improvements to our site. You may be able to change the preferences on your browser or device to prevent or limit your device’s acceptance of cookies, but this may prevent you from taking advantage of some of our features.  If you click on a link to a third-party website or service, a third party may also transmit cookies to you.  This Privacy Policy does not cover the use of cookies by any third parties, and we are not responsible for their privacy policies and practices.


Disclosure of personal data & third parties

Depending on the purposes for which we collect your personal data, we may disclose it to the following categories of recipients, which will then process your personal data only within the framework of these purposes:

      • authorized staff members of Polaris;
      • entities and persons affiliated with the Polaris family of funds, and their related management companies and other affiliated entities; and
      • third parties, being companies that provide services for or on behalf of Polaris.  These companies are required to always act in compliance with the applicable law and this Privacy Policy.

We do not sell or rent your personal information for valuable consideration.


Transfers outside the EEA

Your personal data will be processed outside the EEA.  When there is any transfer of your personal data to countries outside the EEA that do not generally offer the same level of data protection as that within the EEA, Polaris will implement appropriate specific measures to ensure an adequate level of protection of that personal data. As an example, these measures can include agreeing on binding contractual clauses with recipients that guarantee adequate levels of protection.


Your choices and rights

We want to be as transparent as possible with you, so that you can make meaningful choices.


Under the Data Protection Laws, you are entitled to the following:

      • a right of access to your personal data;
      • a right to object to the processing of your personal data in certain circumstances;
      • a right to rectify any information which is inaccurate;
      • a right to the erasure of your personal data (also known as the “right to be forgotten”); provided that Polaris may retain your information only if it necessary to provide you with services you requested or for our internal analytical use
      • a right to data portability when the processing activity is based on consent or under a contract with the you, i.e. the right to receive your data or to have the data transmitted to a third party;
      • a right to ask us to restrict the processing of your personal data if you have challenged the accuracy of your data, or if you have objected to the use of your data.  You may also ask us to limit the use of your data where you feel we may have processed your data unlawfully, or where you want us to keep your personal data in order to create, exercise or defend legal claims; and
      • a right to not be discriminated for exercising your rights under the Data Protection Laws.

If personal information is being processed with your consent, you may withdraw this at any time.  You also have the right to lodge a complaint with the supervisory authority or seek judicial remedy.  These rights can be exercised verbally or in writing by emailing investorrelations@polarispartners.com.



If you are not happy with the way we manage your data, disagree with a decision we have made in respect to your individual rights, or you have any other type of concern, you may raise a complaint by contacting us.


If you are dissatisfied with the way your issue was dealt with, you may also lodge an official complaint with the supervisory authority in your jurisdiction at any time.


Changes to our Privacy Policy

We may occasionally make alterations to this Privacy Policy which will reflect how we process and look after your data.  This is to ensure we honor our commitment to you to protect your information and uphold your rights.  If important changes are made to this Privacy Policy, we will draw your attention to them by making this clear on our website, through our services or by another means of communication, such as email.  This will allow you to assess the changes in light of the data that we might be holding.

This website is not an advertisement. This website is intended solely to provide general business information on Polaris Partners and 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. 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. Certain statements may be deemed forward-looking, but any such statements are not guarantees of any future performance and actual results or developments may differ materially from those discussed. There is no guarantee that investment objectives will be achieved or that any particular investment will be profitable. Past performance does not guarantee future results. Where applicable, figures include 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. Please see the complete list of investments here, as well as the Terms of Use for additional information and disclosures.


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.