Fierce Biotech April 17, 2024
What’s another $100 million tacked onto a previously raised $850 million? Evidently, for venture firm Canaan Partners, tons.
The private financing outfit has added a fresh nine-digit sum a year after closing its thirteenth fund. General Partner Julie Grant told Fierce Biotech that the money will act as a designated pool for biotech investments.
“The additional capital that’s been raised will be invested alongside the main fund,” she said. “It will allow us to do more deals in biopharma with the exact same strategy of going for early company formation, syndicated series A and syndicated series Bs and Cs.”
The cash extends the total amount raised since early 2023 past $1 billion, with nearly half of the...
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