NEA raises a whopping $2.6 billion for its fourteenth fund

NEA raises a whopping $2.6 billion for its fourteenth fund

All-star venture capital firm New Enterprise Associates (NEA) has raised an impressive $2.6 billion for its fourteenth fund, TechCrunch reports.

Partner Tony Florence told the publication in an interview that the fund will be “very enterprise-focused,” though he did note that the firm will be “very very active” in the consumer Internet sector. Florence mentioned Brazil and Southeast Asia as “interesting” geographies for NEA, while also pointing out that the firm has been investing in India and China for more than a decade.

The Silicon Valley-based firm appears to have done well for itself this time around, as filings with the U.S. Securities and Exchange Commission in March revealed that the company was initially looking to bring in $2.3 billion.

NEA’s latest fund is bigger than its last two funds, which both closed at around $2.5 billion, and, by some estimations, it’s actually the largest VC fund ever. The firm currently boasts $11 billion in committed capital and a 30-year track record of success that includes more than 170 IPOs and over 280 mergers.

Image via Flickr / 401(K)2012

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