Venture Capital Firm New Enterprise Associates Closes On $3.6-Billion Fund

New Enterprise Associates, Inc. formally announced the closure of a $3.6-billion fund Wednesday alongside the naming of former Jet.com President Liza Landsman as general partner. 

NEA is a venture capital firm whose newest and largest fund will be invested across early- and growth-stage opportunities in the technology and health care sectors.

“We are deeply grateful to our limited partners for their commitment to NEA and their confidence in our ability to execute on the tremendous opportunity ahead,” said Scott Sandell, NEA managing general partner, said in a statement.

“As technology transforms every industry globally and life sciences innovation continues to accelerate, NEA is in a great position to continue doing what we do best — work alongside entrepreneurs to build great companies that will shape the future of how we live, work and play.”

The new fund is Sandell’s second shot as general partner; Tony Florence and Mohamad Makhzoumi will manage investment in the individual sectors, while Landsman will help further support the teams investment decisions, leveraging executive and managerial experience acquired at Jet,

E*TRADE Financial Corp ETFC, BlackRock, Inc. BLK, Citigroup Inc C and IBM IBM, according to the press release. 

“Having worked with Liza over many years before she joined NEA, we knew she would be an outstanding addition to our team — we quickly realized that she was not only a great fit for our organization today, but someone who could play a really important role in shaping NEA for the future,” Tony Florence, general partner and head of technology investing at NEA, said in a statement. 

“Her significant operating experience, especially with fast-growing consumer companies, is a tremendous asset to our team and our portfolio.”

To learn more about NEA, visit nea.com.