Canaan reels in a jumbo $800M fund with a big focus on a new wave of biotech startups
In the latest sign of the leviathan appetite venture investors have for new technology, Canaan Partners — one of the busiest players in biotech — has raised a firm-record $800 million fund to drive a new wave of bets in the biz.
The Silicon Valley-based Canaan has many interests — fintech, marketplaces, enterprise — with a special place in the portfolio for a big chunk of biopharma. Known as a regular in seed financings and Series A rounds, Canaan likes to get in early.
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