New Enterprise Associates (NEA) has announced it has closed its fifteenth fund — New Enterprise Associates 15 LP — with $2.8 billion in committed capital.
An additional $350 million is committed for NEA 15 Opportunity Fund, a co-investment fund.
NEA, which has its headquarters in Chevy Chase, Md., is a global VC firm focusing on investments in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s history includes more than 200 portfolio company IPOs and more than 320 acquisitions.
In an interview with MedCity News, NEA partner Justin Klein indicated that NEA traditionally invests 30-40% of its funds in healthcare. Within that, 50-60% go to biotech and therapeutics, 25-35% go into medical devices and healthcare tech, with the remainder in healthcare services and IT.
He said subsectors that are most compelling for NEA include peripheral vascular disease, electrophysiology and treatment of atrial fibrillation in medical devices and immuno-oncology, gene therapy and CRISPR in biotech.
This latest round of fundraising brings the firm’s cumulative committed capital since its founding nearly 40 years ago to nearly $17 billion.