Jump to content

New Enterprise Associates

From Wikipedia, the free encyclopedia
New Enterprise Associates
Company typePrivate
IndustryVenture capital
Founded1977; 48 years ago (1977)
FoundersDick Kramlich[1]
Chuck Newhall
Frank Bonsal
Key people
  • Scott Sandell
    Exec. chairman[2]
  • Tony Florence, Co-CEO[3]
  • Mohamad Makhzoumi,
    Co-CEO[3]
AUM$25 billion (2023)[4]
Websitewww.nea.com

New Enterprise Associates (NEA) is an American-based venture capital firm. NEA invests in companies at various stages of growth, across an array of industry sectors, with particular focus on technology and healthcare compamies.[5] With over $25 billion in committed capital, NEA is one of the world's largest venture capital firms.[6][7][8][9][10]

History

[edit]

NEA was founded in 1977 by C. Richard (Dick) Kramlich, Charles (Chuck) Newhall III,[11] and Frank Bonsal, Jr.[12][13] Kramlich had worked with noted venture capitalist Arthur Rock beginning in 1969 and Frank Bosnal had been an investment banker at Alex. Brown & Sons where he focused on initial public offerings (IPOs) for startup companies.[13] Chuck Newhall had previously managed an investment fund for T. Rowe Price in the 1970s. The firm was founded with offices on both the East Coast and the West Coast. Among the firm's first investments was 3Com, which NEA backed along with Mayfield Fund and Jack Melchor in 1981.[14]

The first NEA investment fund had only $16 million of capital. The firm's second fund raised $45 million and the third fund collected $125 million of commitments from investors in 1984. The firm continued to grow steadily throughout the 1980s and early 1990s raising $900 million from 1987 through 1996 across NEA's next four funds.[13] Beginning with NEA-8 in 1998, the firm greatly increased the size of its investment funds. NEA's tenth fund had $2.3 billion of investor commitments in 2000. After raising a more modest $1.1 billion in 2004 for the firm's eleventh fund, NEA raised $2.3 billion and $2.5 billion for its next two funds, respectively.[15][16]

In 2010, NEA launched its thirteenth investment fund with $2.5 billion of investor capital, the largest since the 2008 financial crisis.[17] In 2012, NEA closed its fourteenth investment fund with $2.6 billion of investor capital.[7][10]

In April 2015, NEA closed its fifteenth investment fund with $3.1 billion in investor capital - the largest venture capital fund ever raised.[18] In June 2017, NEA closed its sixteenth investment fund with $3.3 billion in investor capital - again the largest venture capital fund ever raised.[19]

Co-founder Chuck Newhall's 2022 book, Dare Disturb The Universe: A Memoir of Venture Capital,[20] was chosen as a Smithsonian Scholars pick of the year.[21]

Operations

[edit]

The firm is headquartered in Menlo Park, California, with offices in Timonium, London and New York City, and affiliates in Mumbai, Bangalore, Beijing, and Shanghai.[22][23][24]

Since its founding, NEA has invested in nearly 1,000 companies,[7] largely in technology and healthcare industries,[5] realizing over 650 liquidity events (with over 250 portfolio company IPOs and over 300 portfolio company acquisitions).[7] In 2012, its over $14 billion VC capital was invested in nearly 50 biopharma companies, through 14 funds.[22]

In 2018, former CEO of General Electric, Jeff Immelt, joined the firm as a venture partner.[25]

Investments

[edit]

In 2025, some of NEA's investments include: Acadia Pharmaceuticals, Adaptimmune, Alimera Sciences, Amicus Therapeutics, Clovis Oncology, Databricks, Prosensa, and Tesaro.[22]

The firm's early investments into 370 portfolio companies also includes: Aerohive Networks, Antenna Software, Appian, AppSheet, Arris International, Automation Anywhere, Bloom Energy, Box, Inc., Bright Health, Built Robotics, ByteDance, Champions Oncology, Clarifai, Cleo, Clio, Cloudflare, Cohere, Conviva, CrowdMed, Coursera, Dandelion Energy, Drop, Eargo, Edmodo, Enigma, FiscalNote, Formlabs, FTX, Gen.G, Genies, Inc., Goji Electronics, GoodLeap, Goop, HackerOne, Houzz, IFTTT, Illumitex, Illusive Networks, Instabase, Konux, Lexicon Pharmaceuticals, Luminary, Luxtera, MasterClass, Moda Operandi, MongoDB, Pager, Patreon, Philo, Plaid, Raise.com, Regulus Therapeutics, Robinhood Markets, Rock Health, Smartcar, Splashtop, Tamara Mellon, The Yes, ThirdLove, Tintri, Uniphore, Upstart, Upwork, Virtru, Wheels Up, Zoomdata.[26][better source needed]

See also

[edit]

References

[edit]
  1. ^ Bergman, Ben. "Richard Kramlich, a godfather of modern venture capital and cofounder of New Enterprise Associates, dies at 89". Business Insider. Retrieved 2025-07-16.
  2. ^ Studio, Morning Brew. "Going public in 2025". Tech Brew. Retrieved 2025-07-16.
  3. ^ a b Parker, Kevin (2021-06-22). "NEA Elevates Tony Florence and Mohamad Makhzoumi to Managing General Partner". citybiz. Retrieved 2025-07-16.
  4. ^ Murillo, Ana Lucía (17 April 2024). "Prominent venture capital firm bids D.C.-area office goodbye as focus shifts". bizjournals.com. Retrieved 19 May 2024.
  5. ^ a b "16 Top Biotech VC Firms 2025 | TRUiC". startupsavant.com. 2024-07-02. Retrieved 2025-07-15.
  6. ^ Gutsy venture firm New Enterprise Associates brings home results. VentureBeat, January 4, 2007
  7. ^ a b c d NEA - History (Company Website)
  8. ^ Dan Primack (November 7, 2011). "NEA: The VC World's best-kept secret". Fortune. Archived from the original on April 3, 2015. Retrieved September 27, 2016.
  9. ^ NEA Raising $2.5 Billion For What Could Become The Largest VC Fund In History. Tech Crunch, May 9, 2012
  10. ^ a b New Enterprise Associates Closes $2.6 Billion In One Of Largest Venture Funds Ever. Forbes, July, 2012
  11. ^ Newhall, III, Charles W. (2022-07-16). Dare Disturb The Universe: A Memoir of Venture Capital. Koehler Books (published 2022-05-01). ISBN 978-1-64663-433-0.
  12. ^ Heath, Jocelyn; Ortel. |, Lindsey (2003-10-01). "Power 50". Baltimore Magazine. Retrieved 2025-07-16.
  13. ^ a b c Udayan Gupta (2000). "Richard Kramlich - New Enterprise Associates". Done Deals: Venture Capitalists Tell Their Stories. Harvard Business Press. pp. 191–193. ISBN 9780875849386. Retrieved September 27, 2016.
  14. ^ Pelkey, James. Entrepreneurial Capitalism and Innovation: A History of Computer Communications 1968-1988
  15. ^ New Enterprise Associates closes new $2.5 billion fund. Silicon Valley Business Journal, July 23, 2006
  16. ^ "$2.5 Billion in Search of an Exit". Deal Book. New York Times. July 12, 2006. Retrieved September 27, 2016.
  17. ^ Tim Mullaney (January 21, 2010). "Venture Capitalist Dick Kramlich's Last Stand". Bloomberg Business Week. Retrieved September 27, 2016.
  18. ^ Alex Konrad (April 15, 2015). "VC Firm NEA Raises A Record $3.1 Billion For Fifteenth Fund". Forbes. Retrieved September 27, 2016.
  19. ^ Tomio Geron (June 19, 2017). "NEA Raises Massive $3.3 Billion Fund". WSJ. Retrieved March 14, 2018.
  20. ^ Moran, Nick (2022-05-02). "331. The Founding Story of NEA, The True History of Venture Capital, the Keys to an Enduring Firm Legacy, and Why the Best VC's Dare Disturb the Universe (Chuck Newhall) | The Full Ratchet". Retrieved 2025-07-16.
  21. ^ Py-Lieberman, Beth. "Smithsonian Scholars Pick Their Favorite Books of 2022". Smithsonian Magazine. Retrieved 2025-07-16.
  22. ^ a b c Philippidis, Alex (2014-11-28). "30 Top VC Firms for Biotechs". GEN - Genetic Engineering and Biotechnology News. Retrieved 2025-07-15.
  23. ^ "Contact NEA". New Enterprise Associates. Retrieved 2025-07-15.
  24. ^ New Enterprise Associates sets up Boston office. PE Hub, November 14, 2013
  25. ^ O'Brien, Kelly J. (2018-02-01). "Jeff Immelt joins venture capital firm with growing Boston presence". Boston Business Journal. Retrieved 2018-02-01.
  26. ^ "Portfolio | NEA". New Enterprise Associates. Retrieved 2014-09-26.
[edit]
Retrieved from "https://en.wikipedia.org/w/index.php?title=New_Enterprise_Associates&oldid=1304310090"