Venture Capital: VC Giant NEA Raises $6.2B For Two Funds Focused On Tech And Healthcare

January 27, 2023 | News, Venture Capital

The NEA raise creates the largest pool of capital in the firm’s history.

New Enterprise Associates (NEA), a 45-year-old venture capital firm, announced that it has closed on $6.2 billion across two funds, bringing its assets under management to over $25 billion as of December 31, 2022.

The two new funds will focus on early-stage and venture growth-stage opportunities respectively in technology and healthcare sectors, including enterprise and consumer technology, digital health, and life sciences. The firm’s approach is to support founders at every stage of company building, from incubation and seed-stage investments to market leader’s growth. (NEA)

“As technology transforms every industry globally, we see an expanding opportunity set at both the early and growth stages that our team is exceptionally well-positioned to execute on given our deep domain expertise across core sectors of innovation including software, infrastructure, fintech, next-generation web technologies and artificial intelligence,” said Tony Florence, Managing General Partner, Technology.

“Healthcare innovation has never been more important than at this moment in time,” said Mohamad Makhzoumi, Managing General Partner, Healthcare. “With the industry on the precipice of dramatic change, we are eager to build on NEA’s enduring legacy of creating and investing in the next generation of tech-enabled healthcare disruptors and transformational life sciences companies.”

NEA invested in reputed startups including Salesforce (NYSE: CRM), Workday (NASDAQ: WDAY) , and Robinhood (NASDAQ: HOOD).

The leadership team has a long tenure, with an average of 17 years, and they have been promoting from within for decades.

NEA has a track record of investing in over 270 portfolio company IPOs and over 450 mergers and acquisitions.

Related Story:  Sequoia Capital Launches $195M Seed Venture Fund

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