Flagship Targets $300M New Fund

Xconomy Boston — 

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.