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Canaan Partners aims to invest $150 mn in India in three years

California-based venture capital firm Canaan Partners says it will invest $150 million (about Rs600 crore) in India over three years from its eighth fund, sized at $650 million and raised in January this year. The firm has fully committed its previous $450 million fund across 37 deals in India, Israel and the US. Canaan, an early-stage venture capital firm that manages nearly $2.4 billion and focuses on technology companies, now plans to hasten its investments in India. It focuses on sectors such as consumer Internet and wireless technologies, enterprise and managed services, and expects to announce its latest deal in a month. “We have no plans of investing out of our core sectors in India. We will invest in sectors where we feel we have the expertise, and can be utilized to gain maximum returns,” says the firm’s managing director Alok Mittal. In the US, Canaan invests nearly one-third of its corpus in health care technology. In India, the firm says it will not invest in the segment in the near future, but may revisit that stance later. […]