Canvas Ventures raises 0 million fund to back startups

By Heather Somerville | SAN FRANCISCO Silicon Valley venture capital firm Canvas Ventures has raised a $300 million fund to make new investments into startups working on fintech, healthcare, artificial intelligence and other cutting-edge technology.The fund is the second for Canvas Ventures, which spun out of Morgenthaler Ventures, and provides the firm with nearly twice as much cash to invest. Canvas’s first fund, raised in 2013, was $175 million. “We will have more shots on goal with this fund,” said Rebecca Lynn, partner at Canvas Ventures.Canvas Ventures makes early stage investments of about $5 million to $20 million per company, with an emphasis on financial services or so-called “fintech” startups, healthcare technology, online marketplaces and artificial intelligence. Its previous investments include marketplace lending company Lending Club Corp. (LC.N), which went…


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