Giant VC Firm Canaan Partners Opens NY Office

canaan partners Giant VC Firm Canaan Partners Opens NY OfficeCanaan Partners — a multibillion-dollar VC firm with offices in Silicon Valley, Israel and India — has opened a new office in New York. 

“We’ve been investing in New York City since 1997 when we first backed DoubleClick. We continue to invest actively in this area, with nine new investments in the past several years,” Warren Lee, venture partner at Canaan and co-director of the firm’s New York office, said in a press release. 

Canaan is currently invested in New York startups blip.tv and Tremor Media. Canaan was a backer of DoubleClick, the ad network which sold to Google in 2008 for $3.1 billion — New York’s largest exit to date. 

“We are very impressed with the quality and experience of New York entrepreneurs,” continued Lee. “We are convinced that New York will become an increasingly important center for innovation in sectors such as advertising, commerce, media, retail, and financial services.”

Bonus perk for Canaan startups: Their office will feature a “digital living room” with an Xbox Kinect360, powered by 3D-sensing technology from Canaan portfolio company PrimeSense, and a GoogleTV, featuring web video content from Canaan portfolio company blip.tv.

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