The venture capital firm, Canaan Partners, has sold its complete portfolio in India to JP Morgan Asset Management for US $ 200 million (INR 1260 crores). JP Morgan now owns Canaan’s stake in all its domestic portfolio firms from this month.
Avneet Kochar, regional adviser for private equity at JP Morgan Asset Management, has started joining board of various Canaan portfolio companies in India. Also, Matrimony, Indiaproperty and CarTrade.com has confirmed that JPMorgan Asset Management is buying Canaan’s stake in these companies.
Canaan earlier shutdown its India branch last year.