Silicon Valley based VC veteran New Enterprise Associates (NEA), who already boast the title of being one of the largest such firms in the world has just taken things to a whole new level. According to various sources, the firm has just raised its 14th fund, which totals a whopping $2.6 billion.
This is believed to be the largest such fund in history, supplanting Oak Investment Partners $2.56 billion raise in 2006.
NEA is no stranger to raising funds that would make other industry players envious, as this marks their third fund raised that exceeds $2.5 billion. All in all, the firm possesses $13 billion in committed capital. The firm is probably best known for aiding a small Chicago start-up called The Point rise to prominence through the model of offering small-business discounts to the masses. That company is now more widely known as Groupon. Another investment is popular (and public) cloud platform Box.
It is expected that this fund will go towards the firm’s recent activity in India and China, where they have been entrenched for a decade as well as investment in Brazil and Southeast Asia.
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