New Enterprise Associates (NEA) announced that it has closed a massive fund amounting to $3.6 billion in its latest fund. The latest fund brings the company to nearly $24 billion committed capital.
NEA is a venture capital firm that focuses on investment stages ranging from seed stage through growth stage across an array of industry sectors. NEA was hailed as the world’s largest venture capital firm in 2007.
As one of the world’s largest and most active venture capital firms, NEA has developed deep domain expertise and insight into various industries ‘ focus.
NEA built a premier technology practice by fueling the growth of disruptive enterprise and consumer technology companies, helping to build market leaders across a wide swath of sectors including software, systems, services, mobility and commerce.
For healthcare, NEA’s commitment to healthcare investing spans decades, a rarity in venture capital.
The collated capital, the firm’s largest funding over its 42-year history, will be invested across a broad range of technology and healthcare sectors. Most of the funds will be concentrated on early-stage opportunities.
“We are deeply grateful to our limited partners for their commitment to NEA and their confidence in our ability to execute on the tremendous opportunity ahead,” said Scott Sandell, Managing General Partner at NEA.
“As technology transforms every industry globally and life sciences innovation continues to accelerate, NEA is in a great position to continue doing what we do best – work alongside entrepreneurs to build great companies that will shape the future of how we live, work and play,” added Sandell.
Apart from the new funding, NEA also announced the promotion of Liza Landsman to now becoming a General Partner. Landsman joined the firm’s New York office as a Venture Partner in 2018.
“Having worked with Liza over many years before she joined NEA, we knew she would be an outstanding addition to our team – we quickly realized that she was not only a great fit for our organization today, but someone who could play a really important role in shaping NEA for the future,” said Tony Florence, General Partner and Head of Technology Investing at NEA.
“Her significant operating experience, especially with fast-growing consumer companies, is a tremendous asset to our team and our portfolio,” added Florence.