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New Enterprise Associates (NEA) is one of the oldest and largest venture capital firms in the world, founded in 1977 in Menlo Park, California. The firm manages over $28 billion in assets under management (AUM) and has a global presence with offices in New York, London, and Timonium, Maryland. NEA has a rich history of supporting ambitious founders at various stages of company development, with a track record that includes 284 IPOs and over 500 M&A exits.
NEA operates with a unique internal promotion culture, ensuring that all general partners have an average tenure of 17 years, which fosters deep institutional knowledge. The firm has evolved over the years, recently closing approximately $6.2 billion across two funds in January 2023, marking a significant structural evolution in its investment strategy.
NEA employs a full lifecycle investment strategy, engaging with companies from seed funding through to IPO. The firm primarily focuses on two sectors: Technology and Healthcare. Within Technology, NEA invests in enterprise software, consumer internet, AI/ML, fintech, SaaS, and infrastructure. The Healthcare practice encompasses life sciences, digital health, medical devices, and therapeutics. NEA has a growing emphasis on AI, led by dedicated leadership, reflecting the increasing importance of this sector.
The firm typically writes checks ranging from $500,000 to $200 million, allowing it to support companies at various stages of growth. NEA's geographic focus spans North America, Europe, and Asia, providing a broad platform for its portfolio companies.
NEA boasts a globally significant portfolio of 70 companies, including:
Scott Sandell - Executive Chairman & Chief Investment Officer, with extensive experience in venture capital and a focus on technology investments.
Tony Florence - Managing General Partner, Technology, joined NEA in 2008, specializing in enterprise software and consumer internet.
Mohamad Makhzoumi - Managing General Partner, Healthcare, with a background in life sciences and digital health since joining in 2005.
Lila Tretikov - Head of AI Strategy, leading NEA's growing focus on artificial intelligence.
Luke Pappas - Partner, with expertise in technology investments and a strong track record in supporting portfolio companies.
Madison Faulkner - Partner, involved in various sectors including fintech and SaaS.
Paul Walker - Partner and Co-Head of Healthcare, focusing on medical devices and therapeutics.
Hunter Worland - Principal, contributing to NEA's investment strategy across multiple sectors.
To pitch to NEA, founders should email bd@nea.com. The pitch deck should include a clear overview of the business, market opportunity, and team. NEA values concise and informative presentations. Response times may vary, but founders are encouraged to follow up if they do not receive a timely reply.
In recent activity, NEA has deployed capital across 70 companies in 2025, with total portfolio funding exceeding $5.8 billion. Notable investments include Clio's $900 million Series F round in 2024, Xaira Therapeutics' $1 billion round in 2024, and participation in ElevenLabs' $180 million Series C and Synthesia's $180 million Series D rounds in 2025. The latest investment was made in TrustCommerce on February 20, 2026.
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What are NEA's investment criteria?
NEA invests across all stages from seed to growth equity, focusing on technology and healthcare sectors. They look for scalable, innovative business models and a strong founder-first partnership approach.
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How can I pitch to NEA?
Founders can reach out via email at bd@nea.com. It's advisable to include a clear overview of the business model, market opportunity, and team in the pitch deck.
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What makes NEA different from other venture capital firms?
NEA's extensive experience, with 284 IPOs and over 500 M&A exits, combined with its founder-first approach and dual practice model in technology and healthcare, sets it apart from other firms.
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What is NEA's geographic scope?
NEA primarily invests in North America, but also has a significant presence in Europe and Asia.
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What is NEA's post-investment involvement like?
NEA emphasizes long-term support for its portfolio companies, providing strategic guidance and access to a vast network of resources.
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