Canaan Partners, a venture capital firm with a Westport office, reportedly is raising up to $650 million for a new fund, its eighth.
The firm”™s current fund has $450 million in commitments, according to Private Equity Hub, and Canaan Partners manages $2.3 billion in total investments.
Canaan Partners investments include:
Ӣ Spine Wave Inc., a Shelton company that is developing minimally invasive devices for spine disorders;
Ӣ FitLinxx, a Norwalk company whose software is used by health club patrons to track their exercise regimens;
Ӣ Icon International Inc., a Stamford firm that structures barter finance services for corporations; and
Ӣ iSolve.com, an information-technology outsourcing firm in Danbury.
Last month a West Coast portfolio company called SuccessFactors Inc. held an initial public offering of stock, valuing Canaan Partners”™ stake initially at $39 million. The San Mateo, Calif., company”™s software is used to help managers track the performance of their employees.
In October, another portfolio company in St. Paul, Minn., called TranSoma Medical Inc. filed for an IPO as it develops wireless implants that monitor cardiac conditions.
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