Hsiao becomes the fourth general partner at Canvas, which closed its debut fund on $175m last August.
Hsiao spent the last 10 years at NEA working on investments including Houzz, Boingo and Elance-oDesk.
Prior to that he founded a venture capital-backed startup called Mazu Networks.
Fellow Canvas general partner Rebecca Lynn said, “We couldn’t be more excited to have Paul join our team.
“Paul is both a pleasure to be around and has a stellar record not just in terms of the numbers, but in terms of his reputation among entrepreneurs who have loved working with him.”
Gary Little, also a Canvas GP, added, “Paul brings a great deal of understanding and empathy to the job because he was a startup founder himself.
“He has the same profile as the entrepreneurs we back and want to continue backing – sharp, driven and bold.”
Canvas’ fund is expected to be the first in a series raised by new management company Morgenthaler Technology Investment Company.
It initially had a target of $150m.
Its three founders continue to be partners at Morgenthaler Ventures, which raised its ninth vehicle in 2008.
Copyright © 2014 AltAssets