Canaan Partners originated from a 1987 management buyout of GE's venture unit and maintains a deliberately balanced 60/40 split between technology and healthcare, with both sides built to produce de novo company formation rather than just following later-stage trends. The firm runs an atypically transparent, debate-driven investment process where deals are scored 1–4 by every partner with results displayed publicly, and has executed multiple full generational transitions where none of the original partners remain after 37+ years.