Canaan Partners has announced the closing of a $600Mn fund Canaan IX.
Canaan Partners will invest two thirds of this new fund in technology in fields including digital media, consumer Internet, enterprise, mobile and communications companies in the U.S., India and Israel, while the balance will go to health care investments in biopharmaceutical, medical device and health care infrastructure companies.
Since 1987, Canaan Partners has invested in technology startups ans healthcare companies. With $3.5Bn under management and more than 85 acquisitions and 53 IPOs to date, Canaan has funded technology companies such as SuccessFactors, DoubleClick (acquired by Google), Match.com (acquired by IAC), Acme Packet, Active Network and SandForce (acquired by LSI), as well as healthcare companies such as Advanced BioHealing (acquired by Shire); Advance PCS (acquired by Caremark), BiPar Sciences (acquired by Sanofi); Calixa Therapeutics (acquired by Cubist); Cerexa Pharmaceuticals (acquired by Forest Labs) and Peninsula Pharmaceuticals (acquired by Johnson & Johnson).
Current technology investments include Tremor Video, KABAM, Lending Club, blip.tv, Zoosk and Blurb in the US; BharatMatrimony, LoyaltyRewardz, Naaptol and UnitedLex in India; and PrimeSense, LiveU and N-trig in Israel. The Canaan healthcare portfolio includes emerging leaders such as Liquidia Technologies, Theraclone Sciences, Durata, Civitas Therapeutics, Elevation Pharmaceuticals and DICOM Grid.
It's recent Indian investments include Ashok Soota's Happiest Minds, Consim Info(Bharat Matrimony) and Loylty Rewardz.
Several other fund houses are looking to raise funds for investments in Indian companies. Recently, Red Fort Capital announced it's new real estate fund for Indian investments. Others including Ajay Piramal's IndiaReit Fund Advisors Pvt Ltd, Kotak Realty and Triangle Real Estate are also raising funds.
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