Ross Fubini, formerly of Kapor Capital, has joined Canaan Partners as a venture partner. This move marks a significant shift in focus for Fubini, who will now be investing in Series A and later-stage companies, rather than seed investments.
Background and Experience
Fubini’s resume is filled with notable positions at successful startups, including Netscape, Tellme, and Plumtree. He also co-founded social software startup CubeTree, which was acquired by SuccessFactors in 2010. After the acquisition, Fubini served as vice president.
In addition to his entrepreneurial endeavors, Fubini has held advisory roles with Palantir Technologies and Causes. His experience as a technologist and seed investor is expected to serve him well in his new role at Canaan Partners.
The Consumerization of Enterprise Trend
Fubini emphasized the significance of the consumerization of enterprise trend, where enterprise products begin to resemble consumer apps. He noted that this shift allows consumers to access resources previously only available to companies. Examples of companies taking advantage of this trend include:
- UrbanSitter, which enables users to acquire leads and book services
- Odesk (now Upwork), a platform for freelancers to find work
- Uber, a ride-hailing service that connects drivers with passengers
Fubini also highlighted the importance of consumerization in various industries, including finance:
- WealthFront, which allows users to diversify their assets and manage their investments
- LendingClub, a peer-to-peer lending platform that enables individuals to borrow and lend money
- FinancialEngines, a company that provides financial planning and investment advice
Canaan Partners’ Recent Fundraising Efforts
In the beginning of this year, Canaan raised a $600 million fund, its ninth. This significant fundraising effort will enable the firm to continue investing in promising companies.
Recent investments made by Canaan include:
- AdverCar, a platform for car owners to rent out their vehicles
- Borro, an online marketplace for luxury goods and services
- UrbanSitter, which provides parents with access to trustworthy and reliable caregivers
The Future of Venture Capital
Fubini’s move to Canaan Partners marks an exciting development in the world of venture capital. As a seasoned investor with experience in both seed investing and later-stage investments, he is well-positioned to identify emerging trends and opportunities.
As Fubini noted, "The right story is how consumers are now able to act like and get the resources previously only available to companies." This shift towards consumerization has significant implications for various industries, from finance to technology.
