New Enterprise Associates Raises Additional $1 Billion For Latest Fund
New Enterprise Associates has added $1 billion to its latest fund, bringing the total amount raised for the fund to $2.2 billion. NEA’s goal is to raise $2.5 billion, according to VentureBeat. It had closed on the first $1.2 billion in January, and has since raised $150 million from Teacher Retirement System of Texas, and about $15 million each from the San Francisco Employees’ Retirement System and the Indiana State Teacher’s Retirement Fund.
SEE ALSO: Trinity Ventures Closes Tenth Fund Following Strong Demand
The venture fund invests in companies across a range of sectors, from digital media to information technology to healthcare. Portfolio companies include Xoom, Glu Mobile (NSDQ: GLUU) (which went public in 2007), and Advertising.com. It raised its last fund in 2006, also $2.5 billion.
Posted In: Advertising, Entertainment, Media & Publishing, Money, M&A & Venture Capital, Venture Capital
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