New Enterprise Associates is raising a total of about $7bn for a pair of funds, one for early-stage startup deals and another for later-stage rounds, according to people familiar with the situation. The effort represents a change to NEA’s longtime strategy of investing out of a single multistage fund.
The firm is looking to raise just under $3bn for its early-stage strategy, New Enterprise Associates 18 LP, and about $4bn for NEA 18 Venture Growth Equity LP, the people said.
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New Enterprise Associates is a global investment firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With more than $20bn in cumulative committed capital since the firm’s founding in 1977, NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO.
Source: Wall Street Journal
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