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At a Glance

Check Size
$1M – $50M
Stage
Seed, Series A, Series B+
AUM
$25B
Sectors
Enterprise, Digital Health, AI +2
Founded
1977
HQ
Menlo Park, CA

About NEA

New Enterprise Associates stands as one of the most influential venture capital firms in Silicon Valley and globally, with a 47-year track record that spans multiple technology cycles. Since its 1977 founding, NEA has deployed over $25 billion in capital across more than 1,000 investments, establishing itself as a cornerstone institution in the venture ecosystem.

The firm's longevity stems from its ability to adapt its investment approach while maintaining disciplined capital deployment across enterprise software, digital health, consumer technology, and emerging sectors like artificial intelligence. NEA's portfolio reads like a who's who of technology innovation, including early investments in companies such as Salesforce, Workday, Databricks, Robinhood, and Plaid. The firm participated in Salesforce's Series A round in 2001, watching the company grow into a $200+ billion market cap leader that redefined enterprise software delivery.

Similarly, NEA's investment in Workday during its early stages positioned the firm as a key beneficiary of the cloud computing transformation in human capital management. The firm's healthcare investments have been equally prescient, with stakes in companies like 23andMe, Health Catalyst, and numerous digital health platforms that have collectively transformed healthcare delivery and data analytics.

NEA's investment strategy spans multiple stages, from seed rounds to growth equity, allowing the firm to support companies throughout their development lifecycle. This multi-stage approach has enabled NEA to increase ownership in high-performing companies while providing entrepreneurs with a single, trusted capital partner. The firm typically writes initial checks ranging from $1 million to $20 million, with the ability to invest significantly more in follow-on rounds.

NEA's reputation extends beyond capital provision to strategic guidance and operational support. The firm's partners bring decades of operating experience from companies like Microsoft, Oracle, and various successful startups, providing portfolio companies with tactical expertise in areas such as product development, go-to-market strategy, and international expansion. This operational focus has helped NEA maintain strong relationships with entrepreneurs and position itself for competitive deal flow.

The firm's global presence, with offices in Menlo Park, New York, Baltimore, and Bangalore, reflects its commitment to identifying innovation wherever it emerges. NEA's international investments have included successful companies across Asia and Europe, demonstrating the firm's ability to navigate diverse regulatory and cultural environments while maintaining its disciplined investment approach.

Investment Thesis

“Partners with entrepreneurs building transformational technology and healthcare companies across all stages.”

Leadership Team

NEA's investment team combines operating executives and seasoned investors with deep sector expertise. Managing General Partner Scott Sandell leads the firm's enterprise software investments and previously served in product management roles at technology companies. Partner Carmen Chang focuses on digital health investments, bringing experience from healthcare technology companies and investment banking. The firm's enterprise software practice is strengthened by partners with backgrounds at companies like Salesforce and Microsoft, providing portfolio companies with practical insights into scaling enterprise sales and product development. NEA's healthcare team includes partners with medical degrees and pharmaceutical industry experience, enabling sophisticated evaluation of clinical and regulatory risks in healthcare investments.

Sector Focus

Investment Stage

Notable Portfolio Companies

SSalesforce
RRobinhoodDataRobotDataRobotCCloudflare
AAdvanced Micro Devices
GGroupon
JJet.com
PPlaceIQ

Fund History

  • NEA has raised 19 venture funds since its founding, with recent funds ranging from $3.6 billion to $4.3 billion in committed capital.
  • The firm's fund sizes have grown significantly from its early venture funds of under $100 million to its current multi-billion dollar funds, reflecting both the firm's track record and the expansion of venture capital markets.
  • NEA has maintained consistent fund-raising cadence, typically raising new funds every 3-4 years, while expanding its global investment mandate and stage flexibility across its fund progression.

SEC Fund Filings

Vehicles filed, last 24 months
12
Latest filing

NEA filed a Form D for 12 fund vehicles between Sep 30, 2024 and Sep 29, 2026. The 8 most recent:

Fund vehicleSource
NEA RP SPV, L.P.SEC Form D, filed
NEA DB 2026 SPV-A, L.P.SEC Form D, filed
NEA CH 2026 II SPV, L.P.SEC Form D, filed
NEA CH 2026 SPV, L.P.SEC Form D, filed
NEA 19 Access Fund, L.P.SEC Form D, filed
NEA 19 Venture Growth Equity, L.P.SEC Form D, filed
New Enterprise Associates 19, L.P.SEC Form D, filed
NEA TS 2025 SPV, L.P.SEC Form D, filed

A Form D is the notice a fund files with the SEC when it raises money in a private offering. Feeder funds, parallel funds and SPVs each file their own, so the count measures filing activity, not the number of flagship funds.

Source: SEC EDGAR Form D filings for pooled investment funds, original filings only (amendments excluded). Our filing data starts Jul 1, 2024. Vehicles are matched to NEA by fund name and checked against the sponsor address and named principals on each filing; offering amounts are not shown. Each “SEC Form D” link opens an EDGAR full-text search for that vehicle’s exact name, where the filing itself is listed. See every new fund filing on the Form D Radar.

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Frequently Asked Questions

What stage does NEA invest at?

NEA primarily invests at the Seed, Series A, Series B+ stages. This means they focus on companies that are building their initial product and finding product-market fit.

Where is NEA located?

NEA is headquartered in Menlo Park, CA. Many of their portfolio companies are also based in this region, though they invest across geographies.

What sectors does NEA focus on?

NEA focuses on investments in Enterprise, Digital Health, AI, SaaS, Consumer. Their portfolio reflects deep expertise and networks within these sectors.

What is NEA's typical check size?

NEA's typical investment check size ranges from $1M to $50M. Actual amounts may vary based on the stage, sector, and specific opportunity.

How much does NEA have under management?

NEA manages approximately $25B in assets under management (AUM) across their funds.

Fund Operations Resources

Running a fund like NEA? Independent guides to the software and processes emerging managers use to operate.

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