Canaan Partners to Ring NASDAQ Closing Bell

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Global technology and healthcare leader Canaan Partners continues a year of successful investments and positive returns.

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“Ringing the Closing Bell at NASDAQ in New York is a terrific honor, because the exchange is a recognized launching board for high-growth, innovative companies around the world.” Warren Lee, general partner, Canaan Partners

Canaan Partners, a leading multi-billion dollar global venture capital firm, has announced that today it will ring The NASDAQ Stock Market Closing Bell.

In honor of the occasion, the firm’s entire global team will convene at The NASDAQ MarketSite in New York City today at 3:45 p.m. ET to officially close the day’s trading – recognizing the pivotal role the exchange plays in launching high-growth companies on the public market.

“Ringing the bell at NASDAQ continues a great year for Canaan Partners,” said Canaan general partner Brent Ahrens. “Our portfolio – comprised of leading healthcare and technology companies in the US and abroad – is delivering broad-based performance from all sectors and geographies. Many Canaan companies have already completed successful IPOs on NASDAQ, and many more will follow in the years to come.”

Canaan Partners has helped build some of the world’s most recognized technology and healthcare companies since its founding in 1987, including: Acme Packet; Advanced BioHealing (acquired by Shire); Amicus Therapeutics; BiPar Sciences (acquired by Sanofi-aventis); Cerexa Inc. (acquired by Forest Laboratories); CombinatorX; Dexcom; DoubleClick (acquired by Google); Intralinks (acquired by TA Associates); (acquired by IAC); SuccessFactors and The Active Network. Now managing its eighth fund, Canaan Partners operates offices in Silicon Valley, New York City, Connecticut, Israel, and India.

“Canaan has been investing in New York City since we backed DoubleClick in 1997, and we’ve had an active presence here ever since,” said Warren Lee, general partner in Canaan Partners’ New York City office. “Ringing the Closing Bell at NASDAQ in New York is a terrific honor, because the exchange is a recognized launching board for high-growth, innovative companies around the world, and New York City is home to many next-generation startups.”

Some of Canaan Partners’ fast-growing, pre-IPO companies include technology companies such as, Blurb, Kabam, Lending Club, Naaptol, N-trig, PrimeSense, Tremor Video, UnitedLex, and Zoosk, as well as biotechnology and medical device companies such as Calibra Medical, Chimerix, Durata Therapeutics, Elevation Pharmaceuticals, Liquidia Technologies, and Theraclone Sciences. Five Canaan companies were recently named to The Wall Street Journal’s list of Most Promising Venture-Backed Companies, and 22 were winners on the latest AlwaysOnGlobal 250 Top Private Companies list.

The Canaan team works closely with entrepreneurs to help them build valuable global companies. The firm’s recent exits include Active Network (ACTV), which completed its IPO in May and today has a market cap of $1B; Advanced BioHealing, which was acquired by Shire in May for $750M – generating a 15X return for Canaan Partners; Associated Content, which was acquired by Yahoo! in May 2010; BiPar Sciences, which was acquired by Sanofi-aventis for $500M in 2009; and Calixa Therapeutics, which was acquired by Cubist Pharmaceuticals in 2009 for up to $400M.

About Canaan Partners
Canaan Partners invests in visionary entrepreneurs and provides them the networks, insights and operational guidance required to build high-performance technology and healthcare companies. Founded in 1987, the firm has raised eight funds and completed more than 85 acquisitions and 53 IPOs. With $3 billion under management and a worldwide footprint, the firm is committed to catalyzing the growth of innovative digital media, communications & mobility, enterprise, biopharmaceutical, medical device, diagnostics and healthcare infrastructure companies. Among its successes are VOIP equipment supplier Acme Packet; Advance PCS, the nation’s largest independent provider of health improvement services (acquired by Caremark); the leader in regenerative medicine, Advanced BioHealing (acquired by Shire); Amicus Therapeutics, pioneer of next-generation oral therapies for the management of genetic disease; Associated Content, the people’s media company; BiPar Sciences, a biopharmaceutical company pioneering novel tumor-selective therapies to address urgent unmet needs of cancer patients (acquired by Sanofi-aventis); Calixa Therapeutics, developer of hospital-based antibiotics to treat infections resulting from resistant strains of bacteria (acquired by Cubist); Cerexa Inc., one of the largest biotech acquisitions of 2007 (acquired by Forest Laboratories); CombinatorX, who pioneered synergistic combination pharmaceuticals; Dexcom; DoubleClick, the leading online advertising solution (acquired by Google); Intralinks (acquired by TA Associates);, the most popular online dating site in the world (acquired by IAC); SuccessFactors, the global leader in on-demand performance and talent management solutions; and The Active Network, the world’s largest directory of sports and recreational activities. Current Canaan investments include Bharat Matrimony,, Blurb, Calibra Medical, Cardlytics, Chimerix, Inc., Cortina Systems, iYogi, KABAM, Lending Club, Liquidia Technologies, LiveU, N-trig, Naaptol, ON24, Peer39, PrimeSense, SandForce, SOASTA, Theraclone Sciences, Transcend Medical, Tremor Video, UnitedLex, VaxInnate and Zoosk. Canaan maintains a presence in California, Connecticut, New York, India and Israel. For more information visit

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Nina Minney
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