New Enterprise Associates has closed its 16th flagship fund on $3.3 billion, per the Wall Street Journal, the largest venture vehicle ever raised.
A monumental fundraise, yes, but billion-dollar funds are nothing new for NEA—its latest vehicle also represents the firm’s seventh consecutive $1-billion-plus venture fund. In 1978, NEA closed its first fund on $16 million. The firm has gone on to garner $17 billion in committed capital across 15 funds, not including NEA 16. Here’s a look at the firm’s largest funds to date, according to the PitchBook Platform:
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