Press Release October 30, 2014

Goodwin Procter Advises Canaan Partners on $675 Million VC Fund Raise

Goodwin attorneys recently advised Canaan Partners on its tenth fund, Canaan X, which raised $675 million of capital. The fund is reportedly the eighth largest venture capital fund raised in the United States in 2014, according to the National Venture Capital Association and Thomson Reuters, and will focus on early stage and seed stage investments.

Canaan Partners, founded nearly 30 year ago, is a venture capital firm that invests in entrepreneurs with visionary ideas to improve the way we live our lives. With over $4.2 billion under management and more than 160 exits to date, Canaan has funded some of the world's most innovative companies in both technology and healthcare. Headquartered in Menlo Park, Calif., Canaan also has offices in New York City and Westport, Conn.

The Goodwin team advising Canaan Partners on its fund raise was led by partners Thomas Beaudoin and Jim Donohue, and included associate Mirela Hristova. Partner Karen Turk and associate Sonita Bennitt provided additional support on tax matters.

Goodwin also previously advised Canaan on several transactional matters, including acting as counsel to an investor consortium in Rakuten’s $1 billion acquisition of EBates. Silicon Valley partner Caine Moss is primary deal counsel for the company on the West Coast.

To learn more, please read the Canaan Partners press release. Media coverage surrounding the company’s announcement included articles in Reuters, BloombergVentureBeat and the sfgate.com.