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Laxman Pai, Opalesque Asia: American-based venture capital firm New Enterprise Associates (NEA) has raised $3.6 billion for its 17th venture fund, the largest in the more than 42-year history of the firm.
The new fund will focus on early-stage investments in technology and health care and brings NEA's total committed capital to nearly $24 billion.
Along with the new fund, the firm announced it named Liza Landsman as a general partner. Landsman joined NEA as a venture partner in 2018 after her time as president of Jet.com, an NEA portfolio company.
"The new fund will be invested across a broad range of technology and healthcare sectors. Consistent with the firm's strategy over many funds, the majority of capital will be concentrated in early-stage opportunities with select growth-stage investments," said a press note.
Scott Sandell, Managing General Partner, NEA said: "As technology transforms every industry globally and life sciences innovation continues to accelerate, NEA is in a great position to continue doing what we do best-work alongside entrepreneurs to build great companies that will shape the future of how we live, work and play."
The new fund marks Sandell's second as sole managing general partner, with Tony Florence leading the firm's technology investing practice and Mohamad Makhzoumi recently promoted to head of healthcare investing. Landsman's promotion underscores the firm's longstanding commitment to p...................... To view our full article Click here
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