New Enterprise Associates, Inc. (NEA), a leading global venture capital firm, today announced the official close of its fourteenth fund with $2.6 billion in total committed capital. The fund, one of the largest venture funds ever raised, brings NEA's total committed capital to more than $13 billion across all funds.

"NEA is deeply grateful for the continued support of many longtime limited partners, as well as some new ones, who believe that a diversified, global strategy is the path forward for venture capital," said Peter Barris, NEA Managing General Partner. "Our industry has been profoundly transformed in recent years, and a new model has quietly gained traction where more dollars are being committed to large funds that are global and diversified in nature."

Today the 10 largest venture capital firms account for nearly one-third of dollars coming into the venture industry, with the concentration of capital doubling over the last decade as the overall VC market contracts. This new fund marks NEA's third consecutive $2.5-billion-plus fund, a reflection of the firm's scale and increasingly global focus.

"The venture capital ecosystem needs both large and small firms to thrive," said Mr. Barris. "But companies are scaling earlier and faster than ever before in a highly competitive global landscape, and they need partners with a global footprint and deep pockets to succeed."

First led into emerging markets by its portfolio companies, today NEA has affiliate offices in India and China and investing activities across four continents. The composition of NEA's limited partner group has also become more global. Dollars from international investors are up 10 percent over the firm's tenth fund, a 2000-vintage fund that coincided with NEA's expanded focus on emerging markets.

Consistent with its strategy in recent funds, NEA will continue to invest in information technology, healthcare and energy technology. Within the information technology sector, areas of particular interest include enterprise software and systems, education, consumer technology and digital media. The firm's healthcare investing strategy continues to focus on opportunities in the biopharma, healthcare services and medical device sectors.

About NEA

New Enterprise Associates, Inc. (NEA) is a leading venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $13 billion in committed capital, NEA invests in information technology, healthcare and energy technology companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record includes more than 175 portfolio company IPOs and more than 290 acquisitions. In the U.S., NEA has offices in the Washington, D.C. metropolitan area; Menlo Park, California; and New York City. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India and New Enterprise Associates (Beijing), Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com.