NEA CLOSES ON ITS THIRTEENTH FUND WITH NEARLY $2.5 BILLION IN COMMITTED CAPITAL
- To focus on Emerging markets and India for investment
Mumbai, January 18, 2010: New Enterprise Associates, Inc. (NEA) said it plans to focus on emerging markets with India as one of the key investment destinations
NEA, a leading global venture capital firm, had recently announced the official close of its thirteenth fund. At nearly $2.5 billion, it is comparable in size to NEA’s prior fund. This new fund represents an estimated 17 percent of all U.S. venture capital funds raised in 2009 and is the largest single fund raised since 2007. This fund brings NEA’s total committed capital to more than $11 billion across all of its funds.
“NEA, has started to build platforms in emerging economies like in China and India, where there should be a lot of activity in the coming years. In the US we have been very adept at identifying emerging sectors and thereafter building deep practices in them. Some sterling examples being information technology, energy technology and healthcare, In India we will leverage the firm’s capability of working with fast growing emerging plays and the team’s operating experience to build a broad based portfolio across sectors.” said Ms Bala Deshpande, Sr. Managing Director
“While we have targeted a ticket size of $ 30 -80 million for our investments in India, capital will not be a constraint for the right opportunity” added Ms Deshpande.
“Drawing on its deep domain expertise and extensive global network coupled with the deep rooted understanding of the team on India, NEA’s strategy would focus on finding the best opportunities to invest in transformational businesses in the domestic market” said Ms Deshpande.
New Enterprise Associates, Inc. (NEA) is a leading venture capital and growth equity firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $11 billion in committed capital, NEA invests in information technology, healthcare and energy technology companies at all stages in a company’s lifecycle, from seed stage through IPO. Since the firm’s founding in 1978, NEA’s experienced management team has invested in over 650 companies, of which more than 165 have gone public and more than 265 have been acquired. In the U.S., NEA has two offices in the Washington, D.C. metropolitan area and one in Menlo Park, California. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India and New Enterprise Associates (Beijing), Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com