New Enterprise Associates

What New Enterprise Associates does

New Enterprise Associates (NEA) is a private, multi-stage venture capital firm established in 1977 and headquartered in Menlo Park, California. The firm invests across the technology and healthcare sectors from seed and early stages through growth, public, and PIPE rounds, managing over $28 billion in assets as of February 2026 and serving founders, management teams, and institutional limited partners globally from offices in Menlo Park, New York, San Francisco, Timonium (Maryland), and London, with investment partnerships extending to China and Japan. NEA operates a co-headed practice structure (Healthcare co-led by Ali Behbahani and Paul Walker; Technology led by Rick Yang) and maintains a dedicated AI Strategy function under Partner Lila Tretikov, with Tony Florence and Mohamad Makhzoumi serving as Co-CEOs and Scott Sandell as Executive Chairman & CIO.

NEA's product architecture consists of multiple fund vehicles rather than a single offering: the flagship NEA 19 core venture fund, the NEA 19 Venture Growth Equity fund, and the NEA 19 Access Fund, with related general-partner and limited-partner entities forming the standard venture fund partnership structure. The firm also jointly operates Connect Ventures, a consumer/creator-economy seed and Series A vehicle formed in 2020 with Creative Artists Agency (CAA). Revenue is generated through traditional fund economics: management fees on committed capital from accredited limited partners and qualified purchasers, plus carried interest on successful portfolio exits. Cumulative liquidity figures disclosed as of September 2025 include 230+ IPOs, 500+ M&A outcomes, 270+ billion-dollar businesses, and 100+ unicorns created across the firm's nearly five-decade history.

The firm's primary customer segments are founders and management teams of technology and healthcare companies, alongside institutional limited partners committing capital to NEA's funds. Notable portfolio holdings span enterprise infrastructure (Cloudflare, MongoDB, Databricks), fintech (Robinhood, Plaid, Slash Financial), digital health (Tempus, House Rx, Strive Health), biotech (CRISPR Therapeutics, Arcellx, Abcuro), and consumer platforms (Patreon, Beehiiv, Coursera), with recent thematic concentration in vertical AI, AI infrastructure, and AI-enabled healthcare. The firm uses thought-leadership content marketing, Forbes Midas List recognition, and co-investment relationships (Khosla Ventures, NVIDIA, Drive Capital, Access Industries) as primary go-to-market mechanisms, while capital deployment is conducted through direct partner-led relationships.

Name

New Enterprise Associates

Legal name

New Enterprise Associates

Website

http://www.nea.com

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

101–250 employees

Short description

New Enterprise Associates (NEA) is a private multi-stage venture capital firm investing across technology and healthcare from seed to IPO. Founded in 1977 and headquartered in Menlo Park, NEA manages over $28 billion in assets for institutional limited partners and serves founders globally through offices in the US, UK, and partner networks in Asia.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Vehicles (52599)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Institutional Capital Introduction (LP/Family Office/Endowment Matching) (FSAEALAI)

Keywords

• Venture capital investing
• Multi-stage equity funding
• Healthcare investments
• Technology investments
• Portfolio company building

Headquarters

HQ city

Menlo Park

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund Management Fees & Carried Interest: As a registered investment adviser managing multiple venture and venture-growth-equity funds (including NEA 19, L.P. and NEA 19 Venture Growth Equity, L.P.), NEA generates revenue from limited-partner management fees on committed capital and carried interest (performance-based gains) on successful portfolio exits. Liquidity figures referenced include 230+ IPOs, 500+ M&A, and 270+ billion-dollar businesses historically (as of September 2025).
2. Fund Capital Formation: NEA raises successive vintage funds from limited partners including institutional investors, sovereign-related entities (e.g., $100M LP investment from Japan Innovation Corporation into NEA 19 vehicles), and other accredited investors / qualified purchasers. Fund sizes scale with AUM (over $28 billion as of February 2026).

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

New Enterprise Associates (NEA) is a venture capital firm that manages over $28 billion in assets across multiple venture and venture-growth-equity funds (including NEA 19, NEA 19 Venture Growth Equity, and NEA 19 Access Fund). The firm deploys multi-stage equity capital—from seed and Series A through growth, IPO, and PIPE—into technology and healthcare companies, providing patient capital, sector expertise, and company-building partnership to founders across the firm's global offices.

Product overview

New Enterprise Associates (NEA) is a global venture capital firm established in 1977, structured as a platform-plus-funds architecture rather than a unified single product. Their core offerings consist of multiple investment funds — the flagship NEA 19 (New Enterprise Associates 19, L.P.) core venture fund, NEA 19 Venture Growth Equity (NEA 19 VGE) growth fund, and NEA 19 Access Fund — all offered in partnership with NEA Partners 19, L.P. and related entities. As a sub-product, NEA co-manages Connect Ventures, a joint venture fund with Creative Artists Agency focused on Seed and Series A consumer-tech investments. Supporting these financial products, NEA maintains the nea.com information website — an informational service that provides portfolio company listings (Enterprise, Consumer, Fintech, Life Sciences, Digital Health categories), team profiles, blog insights and thought-leadership content, press releases, and ancillary portals including the Limited Partner Login (portal.nea.com) and Portfolio Jobs (careers.nea.com). The firm manages over $28 billion in assets and invests from seed through growth stages across technology and healthcare.

Differentiator

Problem solved

Functional benefit

Brands

• Connect Ventures: Seed and Series A venture capital firm originated as a joint venture between Creative Artists Agency (CAA) and NEA, focused on tech-enabled consumer businesses across media, entertainment, sports, gaming, health, and e-commerce

Products and services

• NEA 19 (New Enterprise Associates 19, L.P.) Core venture capital fund offered by NEA, raised by NEA Partners 19, L.P. Targets investments in technology and healthcare companies across stages. Available to accredited investors and qualified purchasers through confidential offering documents.
• NEA 19 Venture Growth Equity (NEA 19 VGE) Venture growth equity fund offered by NEA, raised by NEA Partners 19 VGE, L.P. Focuses on later-stage growth investments. Available to accredited investors and qualified purchasers through confidential offering documents.
• NEA 19 Access Fund (L.P.) Access fund offered by NEA, raised by NEA 19 Access Fund, L.P. with NEA 19 Access Fund GP, LLC as general partner. Provides additional access to the NEA 19 investment strategy.
• Connect Ventures A venture capital firm originated as a joint venture between Creative Artists Agency (CAA) and NEA. Focuses on Seed and Series A investments in tech-enabled consumer businesses across media, entertainment, sports, gaming, health, and e-commerce. Has made over thirty investments including TMRW Sports, OpenSea, and Jomboy Media.

Quantifiable outcome

• Over $28 billion in assets under management (Feb 2026)
• +3 more outcomes

Named customers41 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core, flagship and minor.

• NVIDIAcoreStrategic or Co-development Partner · 27 April 2026NVIDIA participated alongside NEA in Vast Data's $1B Series F at $30B valuation (April 2026); NEA and NVIDIA frequently co-invest across AI infrastructure deals, reinforcing a strategic relationship between NEA's portfolio and NVIDIA's AI compute platform.
• Creative Artists Agency (CAA)flagshipStrategic or Co-development Partner · 26 January 2026Joint venture partner in Connect Ventures (founded 2020). In January 2026, NEA and CAA appointed Nicole Quinn and Michael Blank as Co-Heads / Managing Partners of Connect Ventures, with Adam Friedman named Venture Partner. The JV focuses on Seed/Series A investments in tech-enabled consumer businesses across media, entertainment, sports, gaming, health, and e-commerce, and has made over 30 investments including TMRW Sports, OpenSea, and Jomboy Media.
• Stanford Engineering Venture FundminorGTM or Marketing PartnerRick Yang (NEA Partner, Head of Technology) serves on the boards of the Stanford Department of Athletics' investment fund and the Stanford Engineering Venture Fund, supporting NEA's Stanford-affiliated sourcing network.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Khosla Ventures: Multi-stage technology and healthcare investor frequently co-investing alongside NEA (e.g., Slash Financial, Sakana AI, Sekai). Khosla shares NEA's tech-forward, science-heavy investing DNA and is a recurring partner/competitor.
• General Catalyst: Multi-stage venture firm with technology and healthcare arms. General Catalyst is comparable to NEA in scale, stage coverage (seed to growth), and ambition to provide full-lifecycle partnership to founders.
• Andreessen Horowitz (a16z): Mega-stage VC firm with sector-specialized practices across AI, bio, fintech, crypto, and consumer. a16z competes with NEA across nearly every technology investing category and operates a similar full-lifecycle platform.
• Kleiner Perkins: Historic venture firm investing across technology and healthcare across stages. Kleiner Perkins and NEA have parallel mandates and frequently co-invest (e.g., Synthesia Series E), with overlapping portfolio companies in biotech and consumer.
• Bessemer Venture Partners: Long-tenured multi-stage venture firm with a focus on cloud, healthcare, and consumer. Bessemer co-invests with NEA (e.g., House Rx) and shares a similar institutional LP structure and growth-stage orientation.
• Greylock Partners: Silicon Valley-based early-stage and growth venture firm focused on enterprise software, consumer, and fintech. Greylock competes with NEA for founder relationships in the Bay Area and shares an enterprise-software investment thesis.
• GV (Google Ventures): Multi-stage venture arm of Alphabet investing across software, life sciences, and frontier tech. GV co-invests with NEA in AI and healthcare (e.g., Translucent, Synthesia) and competes for similar high-conviction growth-stage allocations.
• Sequoia Capital: Premier multi-stage venture firm investing across technology and healthcare from seed to growth. Sequoia is NEA's most direct competitor for top-tier US tech allocations and shares a similar multi-stage, multi-sector mandate.
• Lightspeed Venture Partners: Multi-stage global VC with deep US, India, and Israel presence. Lightspeed has overlapping portfolio companies (e.g., Beehiiv) and similar enterprise/consumer coverage, making it a direct comparable for cross-stage deal flow.
• Accel: Long-running US/global venture firm with seed-to-growth coverage in software, fintech, and consumer. Accel competes with NEA for enterprise and consumer deals and has similar institutional LP backing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCTU3mQDqk3QyB4WeDQwZ1YQ
• LinkedInlinkedin.com/company/new-enterprise-associates
• Instagraminstagram.com/neavc
• Xx.com/NEA
• Facebookfacebook.com/NEAvc

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments2518 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Enterprise Associates