Flagship Ventures announced the closing of a $270 million life sciences fund, beating its $250 million fundraising goal. The announcement comes amid a flurry of venture capital fund closings at a time when the industry is worried over venture investors pulling out of the sector.

Flagships plans to allocate most of its new fund to budding greentech and biotechnology companies, though it stated that some of the new fund would go to late-stage investments.

“Despite the difficult environment for fundraising, especially for early-stage venture firms, we received strong support from our prior investors, as well as from several new important limited partners,” says Noubar Afeyan, Flagship’s CEO.

Flagship’s announcement came a day after Canaan Partners said that it had raised $600 million for a new fund, $200 million of which will be allocated to healthcare and the life sciences. Vivo Ventures, a healthcare investment firm, also announced the close of a $375 million fund to invest in later development-stage pharmaceutical and medical device companies in the U.S. and in revenue-stage healthcare companies in greater China. Burrill & Company, publisher of The Burrill Report, announced a $125 million close for its Brazil Fund I in January and a $313 million close of its Burrill Fund IV in December.

The burst of venture fundraising comes despite an apparent life sciences venture capital contraction. In a survey the National Venture Capital Association released in late 2011, it found that 39 percent of the 150 companies surveyed reported decreasing their investments in life sciences companies over the last three years while the same percentage expect to decrease their investment in the life sciences industry over the next three years. Late last year, several firms announced plans to scale back or withdraw from the sector entirely.

Though the environment remains difficult for companies seeking to raise capital, the new fundraising is a reminder to life sciences companies that money is still available for some.