This fall, we mark Canaan's 30th anniversary. It's been a long time since we were Jack Welch's brainchild — the first iteration of GE Ventures — from which Canaan spun out in 1987. As we reflect on our past and future, we are proud of the way our firm honors entrepreneurship, celebrates diversity and values top performance, knowing that they are inextricably linked, not mutually exclusive.
Today, we are excited to share that we have raised our latest fund. Canaan XI is an $800 million early stage technology and healthcare fund. It is our largest fund yet, reflecting the strength of our team on the field. We are grateful to our longtime Limited Partners and the new ones just starting on a journey with Canaan, for their enthusiasm and support. With 30 years under our belts, we've consistently seen what works and we're sticking with it: an early stage, diversified fund across tech and healthcare with focus in core areas.
With Canaan XI, we will continue our franchise approach to investing in areas where we have deep expertise and a proven track record, including fintech, marketplaces, enterprise / cloud and biopharma. We will also maintain our commitment to true risk capital by jumping in at the seed or Series A stage. We have partnered closely with passionate entrepreneurs over the years and know the road to building a company is a roller coaster ride — particularly in early stage. We wouldn't have it any other way.
As we take stock, we're proud of our top performance — 30 exits in the last 3 years alone and multiple funds at the upper decile — and of the culture and team we've built. It may sound trite, but having a “no assholes policy” works. Ours is a team-oriented, transparent and collaborative culture, with a compensation structure that rewards performance — regardless of a team member's tenure. Silicon Valley, in particular, has seen the impact of underrepresentation in gut-wrenching ways over the past few weeks. We know that having more points of view at the table makes a difference and we lead by example, with an investment team that is 40% women — including at the General Partner level — and 47% immigrant or first-generation.
Our firm has achieved longevity and stability by making generational transition part of our standard operating procedures — continually promoting from within while also attracting top investors from other firms. We're delighted that Rich Boyle, who joined Canaan in 2016, is becoming a General Partner with Fund XI. As a startup veteran and the former CEO of Loopnet, Rich brings tremendous operating experience and technical expertise to his portfolio companies. He is investing in real estate tech, AI and robotics and has already brought innovative new companies like Apartment List, Mynd, and GrokStyle into the Canaan family.
As we look ahead, we see a deep roster of talent for Canaan's future and know that with our next generation — including Joydeep Bhattacharyya (Partner Brendan Dickinson (Partner Julie Papanek Grant (Partner Colleen Cuffaro (Principal) and Michael Gilroy (Principal) — we are laying the foundation for another thirty years of success.