Morgenthaler spinout Canvas hires ex-NEA exec Hsiao as fourth GP


Paul Hsiao Canvas Venture FundMorgenthaler Ventures spinout Canvas Venture Fund has hired Paul Hsiao from New Enterprise Associates as a general partner and founding managing member.

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.

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