| Log in

NEA Close To $2.5B Target On Fund XIII: Report

23 October, 2009

US-based venture capital fund New Enterprise Associates (NEA) is close to achieving its target of $2.5 billion for its fund XIII. NEA has said in a SEC filing that it has managed to get commitments of $2.45 billion from 189 investors, according to a report in peHUB.

The new fund comes at a time when NEA has expanded its team and stepped up its focus on India. The firm, which also has offices in China, invests from the global fund in the country.

NEA raised its XIIth fund at $2.5 billion in 2006. The general partners of the firm will put in $24.8 million to fund XIII.

NEA has completed two investments in India this year. Its most recent investment was Rs 75 crore in reverse logistics firm RT Outsourcing. Earlier this year, it also invested $6 million in mobile value added services firm Valuefirst Messaging. NEA was also reported to be investing $60 million along with Jacob Ballas in Chennai’s Financial Software & Systems (FSS), the largest domestic payment technology firm.

NEA has invested in over half a dozen companies in India which include Sasken, Novatium and ISGN Technologies. It also has a presence through its affiliate fund called NEA-IndoUS Ventures, which is a $189-million venture capital fund.

Last year, NEA hired Bala Deshpande, who was a senior director of the private equity team at ICICI Venture. An email sent to NEA enquiring about the fund close remained unanswered at the time of posting this story.

NEA globally manages assets exceeding $8.5 billion and has its India office in Bangalore. Its India advisory team comprises of Ben Mathias (Vice President), Jerry Rao and Amit Sharma (both Venture Advisors).

 


View Comments
NEA Nears Close of Its $2.5 Billion Fund

NEA Nears Close of Its $2.5 Billion Fund

Madhav A Chanchani 9 years ago
New Enterprise Associates (NEA), the US-based venture capital fund fund, is...
NEA May Invest $375M From New Global Fund In India

NEA May Invest $375M From New Global Fund In India

Madhav A Chanchani 8 years ago
New Enterprise Associates Inc. (NEA), which raised the largest fund by a venture...
NEA Invests Up to Rs 75cr In RT Outsourcing

NEA Invests Up to Rs 75cr In RT Outsourcing

Madhav A Chanchani 8 years ago
Reverse logistics player RT Outsourcing has raised a new round of venture...
1 Comment
Donna Lambert . 6 years ago

Thank you for allowing me to comment and request information on your fund.

??? Do you invest in Mexico?? Expansion funding/growth capital for an existing port development in Ensenada, BC for exporting minerals to Asia??

Please let me know.

D. Lambert

Mobile: US 619 507 2000

NEA Close To $2.5B Target On Fund XIII: Report

Powered by WordPress.com VIP