Canaan Partners Closes $450 Million Canaan VII Fund

Canaan Partners, an early-stage investor and creator of next-generation companies in technology and life sciences, today announced the closing of Canaan VII. The fund will invest in Internet infrastructure, communications, software and services, medical devices, biological sciences, pharmaceuticals and diagnostics. The closing of Canaan VII brings Canaan Partners capital under management to $2.2 billion.

[Canaan Press Release via Yahoo]