NEA, venture capital’s quiet giant, closes on $3.6 billion

With its new fund, NEA will continue its strategy of investing across stages in technology and healthcare deals, with a focus, the firm says, on early stage deals and some growth investments.

“We are deeply grateful to our limited partners for their commitment to NEA and their confidence in our ability to execute on the tremendous opportunity ahead,” said Scott Sandell, Managing General Partner, NEA, in a statement. “As technology transforms every industry globally and life sciences innovation continues to accelerate, NEA is in a great position to continue doing what we do best — work alongside entrepreneurs to build great companies that will shape the future of how we live, work and play.”

While Sandell leads the firm as its sole managing partner, Tony Florence takes point on the venture capital firm’s tech deals, while Mohamad Makhzoumi takes point on healthcare investing.

Also unique for a venture firm is the focus on stability. Every single one of NEA’s general partners were promoted into their roles, the firm said. And the average tenure of a partner is more than 12 years.

“Having worked with Liza over many years before she joined NEA, we knew she would be an outstanding addition to our team—we quickly realized that she was not only a great fit for our organization today, but someone who could play a really important role in shaping NEA for the future,” said Tony Florence, General Partner and Head of Technology Investing, NEA. “Her significant operating experience, especially with fast-growing consumer companies, is a tremendous asset to our team and our portfolio.”

The firm began raising its latest fund last March, as TechCrunch previously reported.

The filing lists the firm’s 10 general partners, including Sandell. The other nine include Forest Baskett, Tony Florence, Mo Makhzoumi, Joshua Makower, David Mott, Pete Sonsini, and Paul Walker, along with Carmen Chang, who heads up the firm’s Asia practice and was promoted to GP last year, and Ali Behbahani, a healthcare investor who was also promoted to GP last year.

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