Open Sources | Rodrigues & Urlocker » Canopy Group becomes an upstanding citizen again

November 28, 2006 | Comments: (0)

Canopy Group becomes an upstanding citizen again

TAGS: Random

Remember Canopy Group? It's the venture firm that spent more money on lawsuits (against CA, IBM, Microsoft, and others) than investments, most famously with SCO Group's lawsuit against IBM.

Well, as Connect Magazine reports, Canopy is shedding its troubled past and is becoming a real venture capitalist again. It has rid itself of the taint of SCO shares, has dumped Ralph Yarro from his role as managing director, and is investing in real companies again. Canopy has brought on Ron Heinz as its managing director, which is a great move. Ron has zero venture capital experience, but is a proven operator, and will be a great addition to Canopy's traditional focus of helping to build entrepreneurs, not just equity positions.

connect: What are the primary differences between the Canopy of 2000-2001 vs. the Canopy of today?

R.H.: I think the underpinnings are the same and that’s to foster the growth of information technology companies in Utah. We are trying to be more communicative to the outside world and be more involved in the community. We are very hands-on in our approach to managing the portfolio.

Good luck, Ron. Nice to see Canopy again proving itself a credit to Ray Noorda, its founder, and not a shame to his name.

Posted by Matt Asay on November 28, 2006 08:31 AM

RATE THIS ARTICLE: