New Enterprise Associates

NEA was founded in 1977 by C. Richard (Dick) Kramlich, Chuck Newhall and Frank Bonsal.{{Cite book |author= Udayan Gupta |chapter-url= https://books.google.com/books?id=xU7f9Jtq-3UC&pg=PA191 |title= Done Deals: Venture Capitalists Tell Their Stories |publisher= Harvard Business Press |pages= 191–193 |year= 2000 |chapter= Richard Kramlich - New Enterprise Associates |isbn= 9780875849386 |access-date= September 27, 2016 }} 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. 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.Pelkey, James. [http://www.historyofcomputercommunications.info/Book/7/7.11-RobertMetcalfeFounding3Com.html Entrepreneurial Capitalism and Innovation: A History of Computer Communications 1968-1988]

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. 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.[http://www.bizjournals.com/sanjose/stories/2006/07/24/story14.html?from_rss=1 New Enterprise Associates closes new $2.5 billion fund]. Silicon Valley Business Journal, July 23, 2006{{Cite news |title= $2.5 Billion in Search of an Exit |work= Deal Book |publisher= New York Times |date= July 12, 2006 |url= https://dealbook.nytimes.com/2006/07/12/25-billion-in-search-of-an-exit/ |access-date= September 27, 2016 }}

In 2010, NEA launched its thirteenth investment fund with $2.5 billion of investor capital, the largest since the 2008 financial crisis.{{Cite news |title= Venture Capitalist Dick Kramlich's Last Stand |date= January 21, 2010 |work= Bloomberg Business Week |author= Tim Mullaney |url= https://www.bloomberg.com/news/articles/2010-01-21/venture-capitalist-dick-kramlichs-last-stand |access-date= September 27, 2016 }}

In 2012, NEA closed its fourteenth investment fund with $2.6 billion of investor capital.

In April 2015, NEA closed its fifteenth investment fund with $3.1 billion in investor capital - the largest venture capital fund ever raised.{{Cite news |title= VC Firm NEA Raises A Record $3.1 Billion For Fifteenth Fund |author= Alex Konrad |date= April 15, 2015 |work= Forbes |url= https://www.forbes.com/sites/alexkonrad/2015/04/15/nea-raises-3-billion-for-15th-fund/ |access-date= September 27, 2016 }} In June 2017, NEA closed its sixteenth investment fund with $3.3 billion in investor capital - again the largest venture capital fund ever raised.{{Cite news |title= NEA Raises Massive $3.3 Billion Fund |author= Tomio Geron |date= June 19, 2017 |work= WSJ |url= https://www.wsj.com/articles/nea-raises-massive-3-3-billion-fund-1497871803 |access-date= March 14, 2018 }}

The firm primarily functions in New York and California, and has offices in Baltimore, Bangalore, Beijing, Boston, Menlo Park, California, Mumbai, New York City, San Francisco and Shanghai.[http://www.pehub.com/2013/11/new-enterprise-associates-sets-boston-office/ New Enterprise Associates sets up Boston office]. PE Hub, November 14, 2013{{cite news |last1=Murillo |first1=Ana Lucía |title=Prominent venture capital firm bids D.C.-area office goodbye as focus shifts |url=https://www.bizjournals.com/washington/news/2024/04/17/new-enterprise-associates-chevy-chase.html |access-date=19 May 2024 |work=www.bizjournals.com |date=17 April 2024}}

Since its founding, NEA invested in nearly 1,000 companies, and realized over 650 liquidity events (with over 250 portfolio company IPOs and over 300 portfolio company acquisitions).

In 2018, former CEO of General Electric, Jeff Immelt, joined the firm as a venture partner.{{cite news |last=O'Brien |first=Kelly J. |url=https://www.bizjournals.com/boston/news/2018/02/01/jeff-immelt-joins-venture-capital-firm-with.html |title=Jeff Immelt joins venture capital firm with growing Boston presence |work=Boston Business Journal |date=2018-02-01 |access-date=2018-02-01 }}

NEA has 370 portfolio companies. Some of the firm's investments include: Aerohive Networks, Alimera Sciences, Amicus Therapeutics, Antenna Software, Appian, AppSheet, Arris International, Automation Anywhere, Bloom Energy, Box, Inc., Bright Health, Built Robotics, ByteDance, Champions Oncology, Clarifai, Cleo, Clio, Cloudflare, Clovis Oncology, Cohere, Conviva, CrowdMed, Coursera, Dandelion Energy, Databricks, 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.{{Cite web|url = http://www.nea.com/portfolio/list/sector/software-services|title = Portfolio | NEA | New Enterprise Associates |access-date = 2014-09-26|website = New Enterprise Associates }}{{Better source needed|reason=Lacks third-party|date=May 2022}}

• Flagship Pioneering, life sciences venture capital firm

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• [http://www.nea.com New Enterprise Associates] (company website)

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Category:Venture capital firms of the United States

Category:Life sciences industry

Category:Financial services companies based in California

Category:Companies based in Menlo Park, California

Category:Financial services companies established in 1977

Category:1977 establishments in California