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Cuyana is one of Canaan Partners' portfolio companies. | Image courtesy: Cuyana

Canaan Partners closes Canaan XI fund with $800 million

Canaan Partners, a Silicon Valley-based early-stage venture capital firm, has closed its 11th fund, Canaan XI, with $800 million.

Canaan XI, is the 30-year-old fund’s largest fund to date ahead of raising $675 million in 2014 and $600 million 2012 for past funds. The new fund will target investments in the fintech, marketplaces, enterprise and cloud and biopharma industries at the seed or Series A stage.

Canaan was launched in 1987 as a spin-off venture of General Electric Capital. Today, the fund has eight managing partners and an investment team, which includes Maha Ibrahim, Brent Ahrens, Dan Ciporin, Deepak Kamra, Guy Russo, Hrach Simonian, Nina Kjellson, Rich Boyle, Wende Hutton, Stephen Bloch and Tim Shannon.

Canaan’s portfolio of fashion, retail and lifestyle investments include Cuyana, Joor, Open Sky, TheRealReal, ShopKeep and Twenty20.

By Theresa Meriam

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