New Enterprise Associates

New Enterprise Associates (NEA)
Private
Industry Venture capital
Founded 1977
Founder Richard Kramlich, Chuck Newhall, Frank Bonsal
Headquarters Sand Hill Road
Menlo Park, California &
Chevy Chase, Maryland
Number of locations
 9
Total assets Increase$18 billion
Website www.nea.com

New Enterprise Associates (NEA) is an American worldwide venture capital firm. NEA focuses on a variety of investment stages, ranging from seed stage through growth stage. NEA invests across a broad array of industry sectors. With over $18 billion in assets under management, NEA ranks as the world's largest venture capital firm.[1][2][3][2][4][5]

Description

The firm is headquartered in Menlo Park, California, and Washington, D.C.,[3] and has additional offices in Baltimore, Bangalore, Beijing, Boston, Mumbai, New York City and Shanghai.[6]

Since its founding, NEA invested in over 650 companies, and realized nearly 500 liquidity events (with close to 200 portfolio company IPOs and 300 portfolio company acquisitions),[2] making NEA one of the most prolific and successful venture capital firms.

The firm was founded in 1977 by C. Richard (Dick) Kramlich, Chuck Newhall and Frank Bonsal.[7] Kramlich had worked with noted venture capitalist Arthur Rock beginning 1969 and Frank Bosnal had been an investment banker at Alex. Brown & Sons where he focused on initial public offerings (IPOs) for startup companies.[7] 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.[8]

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.[7] 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 was able to raise $2.3 billion and $2.5 billion for its next two funds, respectively.[9][10] In 2010, NEA launched its thirteenth investment fund with $2.5 billion of investor capital, the largest since the Financial crisis of 2007–08.[11] In 2012, NEA closed its fourteenth investment fund with $2.6 billion of investor capital.[2][5] In April 2015, NEA closed its fifteenth investment fund with $3.1 billion in investor capital - the largest venture capital fund ever raised.[12]

Investments

The firm's investments include 3com, Appian, Bloom Energy, Braintree, Boingo Wireless, Box, CareerBuilder, Climate Corporation, Coursera, Cvent, Diapers.com, Duolingo, Fusion-io, Groupon, Gilt Groupe, Houzz, Juniper Networks, The Learning Company, Lot18, Macromedia, MongoDB, MuleSoft, Nicira, Opower, Pentaho, Raise Marketplace, Salesforce.com, ScienceLogic, Semiconductor Manufacturing International Corporation, Spreadtrum, Swiftype, Tableau Software, TiVo, Topera Medical, Vonage, WebMD, Workday, and ZeroFOX.[13]

References

  1. ↑ Gutsy venture firm New Enterprise Associates brings home results. VentureBeat, January 4, 2007
  2. 1 2 3 4 NEA - History (Company Website)
  3. 1 2 Dan Primack (November 7, 2011). "NEA: The VC World's best-kept secret". Fortune. Archived from the original on April 3, 2015. Retrieved September 27, 2016.
  4. ↑ NEA Raising $2.5 Billion For What Could Become The Largest VC Fund In History. Tech Crunch, May 9, 2012
  5. 1 2 New Enterprise Associates Closes $2.6 Billion In One Of Largest Venture Funds Ever. Forbes, July, 2012
  6. ↑ New Enterprise Associates sets up Boston office. PE Hub, November 14, 2013
  7. 1 2 3 Udayan Gupta (2000). "Richard Kramlich - New Enterprise Associates". Done Deals: Venture Capitalists Tell Their Stories. Harvard Business Press. pp. 191–193. ISBN 9780875849386. Retrieved September 27, 2016.
  8. ↑ Pelkey, James. Entrepreneurial Capitalism and Innovation: A History of Computer Communications 1968-1988
  9. ↑ New Enterprise Associates closes new $2.5 billion fund. Silicon Valley Business Journal, July 23, 2006
  10. ↑ "$2.5 Billion in Search of an Exit". Deal Book. New York Times. July 12, 2006. Retrieved September 27, 2016.
  11. ↑ Tim Mullaney (January 21, 2010). "Venture Capitalist Dick Kramlich's Last Stand". Bloomberg Business Week. Retrieved September 27, 2016.
  12. ↑ Alex Konrad (April 15, 2015). "VC Firm NEA Raises A Record $3.1 Billion For Fifteenth Fund". Forbes. Retrieved September 27, 2016.
  13. ↑ "Portfolio | NEA | New Enterprise Associates". New Enterprise Associates. Retrieved 2014-09-26.
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