Tuesday, May 20, 2008

Canopy Raises $100M Second Fund

Lindon, Utah-based Canopy Ventures, an early stage venture firm focused on information technology and life sciences in Utah, said Tuesday that it has raised a $100M, second fund managed by the firm. According to the company, Canopy Ventures II will continue to target high growth information technology companies, and will expand to also invest in life sciences. The new fund will be managed by Ron Heinz and Brandon Tidwell. Canopy Ventures was originally started by late Novell founder Ray Noorda. Canopy's portfolio currently includes DirectPointe, Helius, LingoTek, Solera Networks, Center7, iArchives, and other local companies.