New Enterprise Associates Raises $2.5 Billion Fund (Again)
New Enterprise Associates Raises $2.5 Billion Fund (Again)
Posted 01/07/2010 at 6:05am
| by Paul Lilly
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It seems that the magic number for venture-capital firm New Enterprises Associates (NEA) is $2.5 billion, which is equal to the amount the company announced it closed on its thirteenth fund it began investing in May 2009. This is about the same amount as NEA's prior fund in 2006, which closed a little over $2.5 billion.
The fund ties for the fifth-biggest in the venture-capital industry's history, and according to Bloomberg, suggests that the largest firms can still raise some serious cash during a recession.
"The big firms can do what they want, because everyone knows this fund may be your one chance to get in," said Lise Buyer, a former venture capitalist who consults for companies preparing to go public. "If you can get in, you can stay in."
NEA said core investment areas of the new fund will focus on information technology, energy technology, and healthcare.
Image Credit: coal-is-dirty.com
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