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Canaan Has Capital For Start-Ups With Eye On New Twists On Traditional Modalities In Pharma

 
• By Jessica Merrill

VC partner Colleen Cuffaro talked to Scrip about how the investment firm plans to direct investment in biopharma and raising capital in a challenging environment.

money bags
Canaan has raised capital for a new fund to invest in biopharma • Source: Shutterstock

Canaan Partners will invest $650m in health care and technology start-ups as part of a new, oversubscribed fund called Canaan XIII, the VC firm announced on 6 April. About 35% of the money, which will be dedicated to entrepreneurs seeking seed and series A financing, will be devoted to investment in biopharma.

An additional $200m of commitments is available to existing portfolio companies across all of Canaan’s active funds, with a similar...

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