Wednesday, April 15, 2015

NEA Raises Staggering $3.1 Billion In Venture Funds

Menlo Park-based New Enterprise Associates said this morning that it has raised a $2.8 billion venture capital fund, its fifteenth venture capital fund, along with a $350M NEA 15 Opportunity Fund, targeted at late stage portfolio companies. NEA's Fund XV follows the company's, prior $2.6 billion, fund fourteen. NEA has been in the venture capital business 1977, and has managed nearly $17 billion in total. As part of the new fund, the firm said it has named Scott Sandell as Managing General Partner.