Flagship Ventures and Updata Partners are both raising fifth funds, according to a pair of filings with the Securities and Exchange Commission.
Flagship Ventures Fund V is targeting $350 million with a $10 million minimum investment from LPs, according to a Form D filed on Wednesday. This is an increase from the firm’s fourth fund, which was raised in 2010 at $270 million.
The Cambridge, Mass., healthcare-focused firm did not list the fund’s active investors. It did say a first close has not taken place.
Updata Partners V is targeting $225 million and also did not report a first close. It is using Probitas Partners as a placement agent.
The Washington, D.C., tech-focused firm’s SEC filing lists active general partners Carter Griffin, James Socas and Barry Goldsmith. The firm’s vintage 2007 fourth fund was a similar $223.22 million, according to Thomson Reuters.
The filings can be founds here and here.