Wednesday, February 6, 2008

Canaan Closes $650M Fund

Menlo Park-based Canaan Partners said today that it has closed on a $650M venture capital fund, Canaan VIII. According to Canaan, the fund brings the company's total under management to $3B. Canaan will focus the new fund on both the technology and healthcare sectors, and also said it has committed up to 25 percent of the fund to international investments, and specifically in India and Israel. In conjunction with the new fund, Canaan said that it has promoted Dr. Stphen Bloch to General Partner at the firm.