Tuesday, June 30, 2009

Canaan Partners Joins the Invest in America Alliance

Canaan Partners Joins the Invest in America Alliance

Canaan Commits to Investing $200 Million to Encourage Investment, Technology Entrepreneurship and Job Creation in the U. S.

Menlo Park, CA (PRWEB) February 23, 2010

News Facts
 Canaan Partners (http://www. canaan. com), a multibillion-dollar global venture capital firm, announced it has joined the Invest in America Alliance. The firm has committed to investing $200 million in U. S. based technology companies over the next two years as part of the alliance's Invest in America effort. The Invest in America Alliance was formed to encourage investment, technology entrepreneurship and job creation in the U. S. The alliance, led by Intel and supported by a group of venture capital firms and corporations, aims to drive the development of cutting edge technology in the U. S. and further anchor the nation's competitiveness on the global stage. Canaan Partners, Intel Capital and 24 leading venture capital firms have committed to invest $3.5 billion in technology companies in the U. S. over the next two years. The commitment will center on investments in innovative growth markets such as clean technology, information technology and bio technology. Members of the alliance and investors of the fund include Advanced Technology Ventures, Braemar Energy Ventures, Bridgescale Partners, DCM, Draper Fisher Jurvetson, Flywheel Ventures, Good Energies, Institutional Venture Partners, Intel Capital, Investcorp Technology Partners, Khosla Ventures, Kleiner Perkins Caufield & Byers, Menlo Ventures, Mohr Davidow Ventures, New Enterprise Associates, North Bridge Venture Partners, QuestMark Partners, Sevin Rosen Funds, Storm Ventures, Telesoft Partners, Updata Partners, U. S. Venture Partners, Venrock, and Walden International.

Supporting Quote
"Canaan is honored to be a part of and support the Invest in America Alliance," said Deepak Kamra, General Partner at Canaan Partners. "We have a long-standing history of supporting American entrepreneurs and innovative technology companies. We remain focused on developing market disrupting technologies in the healthcare, clean technology, digital media, communications, and enterprise software markets."

About Canaan Partners
Canaan Partners invests in visionary entrepreneurs and provides them the networks, insights and operational guidance required to build high-performance technology and healthcare companies. Founded in 1987, the firm has raised eight funds and completed more than 77 acquisitions and 52 IPOs. With $3 billion under management and a worldwide footprint, the firm's technology team is committed to catalyzing the growth of innovative companies in the digital media, communications & mobility, enterprise and clean tech sectors. Among its successes are DoubleClick, the leading online advertising solution; Match. com, the most popular online dating site in the world; CommerceOne, the company that pioneered B2B ecommerce; SuccessFactors, the global leader in on-demand performance and talent management solutions; WebLoyalty, a leading provider of online marketing and rewards services; and VOIP equipment supplier Acme Packet, which was one of the top ten performing tech IPOs of 2006. Other Canaan technology investments include Active Networks, Associated Content, BharatMatrimony, Blurb, iYogi, Lending Club, N-trig, ON24, Prime Sense, Tremor Media and Zoosk. Canaan has offices in California, Connecticut, India and Israel. For more information visit www. canaan. com.

Erin McMahon-Lyman
Magnify Communications
Phone (415) 307-9962

Gina Vakili
Canaan Partners
Phone (650) 854-8092