Wednesday, January 6, 2010

NEA Closes $2.5B Fund

Venture capital firm New Enterprise Associates said today that it has officially closed on its thirteenth fund, worth nearly $2.5 billion. According to NEA, the new fund brings its total committed capital to more than $11 billion across all of its funds. The firm said the fundraising represents an estimated 17 percent of all U.S. venture capital funds raised in 2009, and is the largest single fund raised in the venture capital industry since 2007. NEA said the new funding will go towards information technology, energy technology, and healthcare industries, consistent with its 2006 fund. NEA's primarly offices are in Menlo Park and Chevy Chase, MD, with affiliate offices in Beijing, Shanghai, Mumbai, and Bangalore.