Â Â Â Â Â Â Â Â Â Â Canaan Partners, a multibillion-dollar global venture capital firm, today announced it has appointed Sharad Sharma as an entrepreneur-in-residence. Mr. Sharma previously led Yahoo! India R&D where he was responsible for product engineering for all emerging markets and for several global products including image search, search monetization and HotJobs. Mr. Sharma has more than 22 years of global experience in the Internet, enterprise software and infrastructure markets and will help strengthen Canaanâ€™s global presence and focus on the Cloud Computing market.
Prior to joining Yahoo!, Mr. Sharma was the India general manager and VP of product operations with Symantec (formerly VERITAS Software) and was responsible for the turnaround of VERITAS operations in India. He was also a co-founder and CEO of Teltier Technologies, a New Jersey based wireless infrastructure start-up that is now part of Cisco. Mr. Sharma has managed product development teams at Lucent Technologies in both the U.S. and India and he established AT&Tâ€™s and later Lucentâ€™s R&D organization in India when offshore product development was just beginning.
Canaan continues to make strategic investments in innovative technology and healthcare companies across the globe with its $650 million fund, Canaan VIII. Fund VIII continues Canaanâ€™s focus on enterprise software investments, including industry-disruptors in the virtualization and Cloud Computing markets, such as Virsto Software and SOASTA Canaan is expanding its commitment to these markets and in addition to holding a recent virtualization industry dinner, the firm will be sponsoring and hosting a cocktail reception at the upcoming Structure 09 event focused on Cloud Computing on June 25, 2009, in San Francisco.