Canvas Ventures Closes Third Fund, at $350M

Canvas Ventures

Canvas Ventures, a Portola Valley, Calif.-based venture capital firm for visionary builders, closed a $350m fund.

CV3 brings the total raised to $835m since Canvas was founded in 2013.

The new fund invests in fintech, digital health, marketplaces, and logistics startups, primarily leading Series A rounds with check sizes ranging from $5m to $15m.

Led by Rebecca Lynn, Paul Hsiao, Mike Ghaffary, and Gary Little, the firm’s team also offers guidance on go-to-market, sales, and growth strategies to help entrepreneurs identify and land their most valuable customers and raise follow-on capital.

Canvas Ventures’ first fund, CV1, includes Luminar Technologies (Nasdaq: LAZR), a global leader in automotive lidar technology that went public via SPAC in December 2020; Zola, online wedding registry, planner, and retailer; Vida Health, virtual care for chronic conditions; and Transfix, a digital freight management software. Notable investments from CV2 include logistics companies MasonHub and Flowspace, proptech leaders Roofstock and Flyhomes, and fintech pioneers Possible Finance, Gabi, and Skyflow.

With CV3, Canvas Ventures is launching a GTM Council to provide portfolio companies with advice and insights from marketers across B2B and B2C disciplines. The Canvas GTM Council is an elite group of proven operators with experience guiding early-stage growth across sales and marketing at industry-leading tech companies.

The Canvas team has also grown significantly, with new hires spanning the investment team, talent, and marketing. The team scouts new investments, offers guidance to new and existing portfolio companies, builds the Canvas brand, and supports portfolio marketing. New members include:

  • Grace Isford is an investor with a passion for scouting humble and ambitious entrepreneurs across sectors ripe for innovation, with a focus on B2B business models in fintech, digital health, and enterprise.
  • Evan Hatch is an investor interested in the modernization of infrastructure within financial services and enterprises.
  • Harrison Lieberfarb is an investor enthusiastic about connecting with mission-driven, category-defining entrepreneurs. His focus as an investor is on consumer and B2B marketplaces, fintech, and software.
  • Ripley Hartmeyer is head of talent & community, with a focus on sourcing, cultivating, and placing top talent across the Canvas portfolio, as well as building the Canvas entrepreneurial community ecosystem. She also plays a key role in investor communication and relationship building.
  • Nina Willdorf is head of marketing & communications, where she works closely with Canvas portfolio companies to develop their brand narrative and marketing strategy, in addition to helping position Canvas’s brand.