This is an excerpt from an article published in the Phoenix Business Journal.
Scottsdale-based venture capital firm Canal Partners is looking to diversify its portfolio and invest in a broader range of startups in Arizona and southern California.
After bringing on two experienced investors as partners, the VC firm is expanding its investment parameters to include high-growth, “anything-as-a-service” and subscription-based, recurring revenue companies. Canal Partners has primarily focused on investing in software-as-a-service companies in the past.
Entrepreneur Chad Horstman and former finance executive Perry Jacobson recently joined Todd Belfer and Robert Lunny as partners at Canal Partners to help source potential new investments, raise capital and serve as board members to portfolio companies, according to the firm.