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NEA Raises Record $2.6B Venture Funds

[Techtaffy Newsdesk]

New Enterprise Associates has closed its fourteenth fund with $2.6 billion in total committed capital. The fund, one of the largest venture funds ever raised, brings NEA’s total committed capital to more than $13 billion across all funds.

Peter Barris (Managing general partner, NEA): Our industry has been profoundly transformed in recent years, and a new model has quietly gained traction where more dollars are being committed to large funds that are global and diversified in nature.

NEA has affiliate offices in India and China and investing activities across four continents. Dollars from international investors are up 10 per cent over the firm’s tenth fund, a 2000-vintage fund that coincided with NEA’s expanded focus on emerging markets.

Consistent with its strategy in recent funds, NEA says it will continue to invest in information technology, healthcare and energy technology. Within the information technology sector, areas of particular interest include enterprise software and systems, education, consumer technology and digital media.

[Image Courtesy: NEA]

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