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Canaan Partners increases $600M Fund

Canaan Partners has closed $600 million fund, Canaan IX. The new fund is believed to bring total capital under management to $3.5 billion and is said to enable the firm to continue backing visionary entrepreneurs who are building disruptive global companies in the technology and healthcare sectors.

Canaan's one-fund approach to venture investing is supposed to allocate approximately two-thirds of Canaan IX to technology investments in digital media, consumer internet, enterprise, mobile and communications companies in the U.S., India and Israel. One-third of the fund is claimed to designate to healthcare investments in biopharmaceutical, medical device and healthcare infrastructure companies.