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Resolute.vc, new venture firm from ex-Polaris partner Mike Hirshland, hopes to raise $25 million

Posted by Scott Kirsner  November 9, 2011 03:56 PM

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Last week, Mike Hirshland, formerly an investor at Polaris Venture Partners in Waltham, launched the Web site for his new seed-stage venture firm, Resolute.vc.

But beyond saying that the new firm will operate in Boston, New York, and San Francisco, and that it will invest between $50,000 and $750,000 in a company's earliest round of funding, Hirshland left a lot of the details hazy. At Polaris, Hirshland was best known for helping create DogPatch Labs, a free workplace for start-ups, and also investing in Automattic, the company that operates the popular blogging platform Wordpress. He also started an annual digital media summit held in Park City, Utah.

Hirshland didn't respond to multiple requests for comment, but according to a federal filing, he's hoping to raise a first fund of $25 million. While the document indicates that he hasn't raised anything yet, several sources in the venture industry tell me Hirshland has collected soft commitments for about half of the $25 million.

Hirshland's new backers, I'm told, include his old bosses: Polaris co-founders Jon Flint and Terry McGuire. And the new one-man firm is based, for the time being in, Polaris' Waltham offices. (Though most people I know who've spotted Hirshland recently have run into him in New York.)

"We're being very supportive I'll leave it at that," says McGuire. Comparing Resolute's approach to the seed investing that Polaris does through Dogpatch, McGuire says, "The way Mike intends to invest is more of a super angel approach."

Know more about what Hirshland is up to at Resolute? Post it if you would.

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Scott Kirsner was part of the team that launched Boston.com in 1995, and has been writing a column for the Globe since 2000. His work has also appeared in Wired, Fast Company, The New York Times, BusinessWeek, Newsweek, and Variety. Scott is also the author of the books "Fans, Friends & Followers" and "Inventing the Movies," was the editor of "The Convergence Guide: Life Sciences in New England," and was a contributor to "The Good City: Writers Explore 21st Century Boston." Scott also helps organize several local events on entrepreneurship, including the Nantucket Conference and Future Forward. Here's some background on how Scott decides what to cover, and how to pitch him a story idea.

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