- New Enterprise Associates announced it has closed $3.6 billion for its 17th venture fund. Now the firm has total committed capital of nearly $24 billion.
New Enterprise Associates announced it has closed $3.6 billion for its 17th venture fund — which is the firm’s largest in its 42-year history. NEA also announced it promoted Liza Landsman to the general partner.
This fund will be used for early-stage investments in tech companies. With this new fund, it brings the firm’s total committed capital to almost $24 billion.
Landsman joined NEA as a venture partner in 2018 after serving as president of NEA portfolio company Jet.com.
This fund marks the second for Scott Sandell as the sole managing general partner. Tony Florence is now leading the firm’s technology investing practice and Mohamad Makhzoumi was recently promoted as the head of the firm’s healthcare division.
Before working at Jet.com, Landsman also served as CMO and member of the executive committee at E*TRADE, global head of digital for BlackRock, and several leadership roles at Citigroup and IBM. Currently, she works closely with Burrow, Mejuri, Goop, Luminary, Hello Alfred, Flow.io, and THE WELL.
Key Quotes:
“We are deeply grateful to our limited partners for their commitment to NEA and their confidence in our ability to execute on the tremendous opportunity ahead. As technology transforms every industry globally and life sciences innovation continues to accelerate, NEA is in a great position to continue doing what we do best—work alongside entrepreneurs to build great companies that will shape the future of how we live, work and play.”
-Scott Sandell, Managing General Partner at NEA
“Having worked with Liza over many years before she joined NEA, we knew she would be an outstanding addition to our team—we quickly realized that she was not only a great fit for our organization today, but someone who could play a really important role in shaping NEA for the future. Her significant operating experience, especially with fast-growing consumer companies, is a tremendous asset to our team and our portfolio.”
-Tony Florence, General Partner and Head of Technology Investing at NEA
