New Enterprise Associates Inc., a venture capital company in Chevy Chase, Maryland, says it has closed its 14th fund with $2.6 billion in capital. New Enterprise says the new fund is its third consecutive property exceeding $2.5 billion, and brings the company’s total committed capital to more than $13 billion across all of its funds.
New Enterprise says the company expects to make investments in information technology (IT), health care, and energy companies. Health care sector opportunities include biopharmaceutical, medical device, and health care IT and services businesses. Information technology opportunities to be considered include enterprise software and systems, education, consumer technology, and digital media.
In the energy sector, New Enterprise says it has more than two dozen companies in its portfolio, including those developing solar, nuclear, advanced batteries, fuel cells, smart grids, lighting, and energy-efficient building materials.
In January, New Enterprise partnered with Harvard University to start the Experiment Fund, to finance seed-stage student start-ups at Harvard, particularly those working in information technologies, health care, and energy. In June, three more venture companies — Accel Partners, Breyer Capital, and Polaris Venture Partners — joined as partners of the Experiment Fund. That fund now has four start-ups in its portfolio.
Read more:
- VC Funding Cut for U.S. Firms, Science Companies Take Hit
- VC Company, Harvard Start Seed-Stage Fund
- Dutch Biotech Raises $30M for Rare Disease Therapies
Photo: borman818/Flickr
* * *
RSS - Posts
You must be logged in to post a comment.