Commerce One forms VC arm ; exchange builder will use venture fund to put its money where its expertise is.(partners with Canaan Partners to form venture capital company)(Brief Article)

The leading e-commerce exchange builder is looking to parlay its success and connections into another equally hot b-to-b sector, venture capital.

Commerce One Inc. has teamed with an elite group of traditional venture capital firms, including Canaan Partners, to launch its first financing arm, Commerce One Ventures. The unit will invest some $100 million in start-ups that use Commerce One platforms, and help them incubate and work with other companies within the company's Global Trading Web b-to-b network.

The move highlights the growing interdependence between b-to-b companies and venture capitalists. And it underscores a yen among exchange execs to take …