Cambridge, MA-based Flagship Ventures plans to raise $300 million for its next fund, VentureWire reported today. The Massachusetts Pension Reserves Investment Management Board, a previous supporter of Flagship’s venture funds, has committed $20 million toward the new batch of capital the firm hopes to raise, a pension official told VentureWire. Flagship, which focuses on investments in life sciences and clean technology, took in $235 million for its last fund closed in 2008 and $152 million in its fund wrapped up in 2005, VentureWire reported. Flagship declined to comment on the report this morning.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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