NEA Closes $2.5Bn Fund – to focus on Cleantech and Healthcare
New Enterprise Associates, Inc. (NEA) today announced the official close of its thirteenth fund, which it began investing in May of this year.
This new fund represents an estimated 17 percent of all U.S. venture capital funds raised in 2009 and is the largest single fund raised since 2007. This fund brings NEA’s total committed capital to more than $11 billion across all of its funds.
Consistent with the strategy employed for the firm’s fund raised in 2006, core investment areas for the new fund will be information technology, energy technology and healthcare. The fund will leverage the firm’s one-fund approach to venture capital and venture growth equity investing across the globe, with offices on both U.S. coasts and in China and India.– via
NEA’s investment in India includes Novatium (which is now looking to raise $10mn), Sasken and ISGN Technologies.
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About the author - Manish is an engineering student and is currently working on his startup idea.
But...
Yet another sheep mentality fund: healthcare & nutrition…are there only jokers left in this space?