Canvas Venture Fund looks to add a fourth partner

The fund formerly known as Morgenthaler Ventures wants to add a partner to help invest its new $175 million early-stage venture fund.

Canvas Venture Fund is looking for a fourth partner to help invest its new fund, Partner Rebecca Lynn told Venture Capital Journal.

Canvas, formerly known as Morgenthaler Ventures, raised $175 million for its 10th fund last month. The fund’s partners are Lynn, Gary Morgenthaler and Gary Little.

“We’re looking for an up-and-comer with experience in the enterprise,” Lynn said.

She emphasized that the firm is in the “very beginning” of recruiting and “we’re not in any hurry” to add a fourth partner. It is essential that the new partner fits well with the existing partners, Lynn said.

Based in Menlo Park, Calif., Morgenthaler rebranded as Canvas to reflect the fact that the firm is focused on early stage (primarily Series A and B) investments in software and services and shifted away from private equity and healthcare deals.

This story first appeared in Reuters Venture Capital Journal. Subscribers can read the original story here. To subscribe to VCJ, please email Greg.Winterton@ThomsonReuters.com.

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