Global venture capital firm New Enterprise Associates closed its fifteenth fund with $2.8 billion in committed capital to its core fund, as well as an additional $350m for its NEA 15 Opportunity Fund.
In conjunction with these new funds, Scott Sandell has been appointed Managing General Partner alongside Peter Barris, Managing General Partner.
The new core fund marks NEA’s fourth consecutive $2.5-billion-plus venture fund while the Opportunity Fund is a new co-investment venture vehicle created to enhance the firm’s core fund strategy. Investments will be made alongside new or follow-on venture growth equity deals, where the anticipated total check size exceeds the typical amount invested by the core investment fund.
NEA will continue to execute on a diversified venture strategy across the technology and healthcare sectors, investing in companies at all stages of growth. Within the information technology sector, areas of particular interest include software and services, enterprise systems and consumer technology. The firm’s healthcare investing strategy continues to focus on opportunities in the biopharma, healthcare services and medical device sectors.