While many enterprise capital agencies spend their days either chasing the limelight or ignoring it, for the last four decades, New Enterprise Associates has done the work of investing capital and building startup businesses.
Now the agency has closed its latest funding vehicle, a $3.6 billion fund that brings its total capital under management to $24 billion.
Unlike some corporations, the collaboration at NEA hasn’t focused on star-making. For the past several years, the fund has been run by Scott Sandell, who has been with the company since 1996.
The approach stands in sharp contrast to the loud voices and influential figures that dominate venture capital’s online dialog. The browsers in business sections of airport bookstores won’t see many books on venture capital or thought leadership from NEA associates.
Nowadays, the most public figure from NEA is Dr. Scott Gottlieb, the former chief of the Food and Drug Administration (FDA), who has turned into a leading figure on the national response to the recent coronavirus epidemic.
In addition to the new capital, NEA has promoted Liza Landsman to a general partner. Landsman joined the agency two years ago after working as the prez of the NEA portfolio firm Jet.com.
With its new fund, NEA will proceed with its strategy of investing across stages in technology and healthcare offers, with a focus, the agency says, on early-stage transactions and several growth investments.