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NEA Closes On $3.6B for New Fund with Focus on Early-Stage Technology and Healthcare Investments

Liza Landsman promoted to General Partner in firm's 17th fund

MENLO PARK, Calif. and NEW YORK, March 11, 2020-- New Enterprise Associates, Inc. (NEA) today announced that it has closed on $3.6 billion for its latest fund, bringing the firm's committed capital to nearly $24 billion over its 42-year history. In conjunction with the new fund, Liza Landsman has been named General Partner. Landsman, who joined the firm's New York office as a Venture Partner in 2018 after serving as president of NEA portfolio company Jet.com, focuses on software and services investments across the consumer landscape.

The new fund, NEA's largest to date, will be invested across a broad range of technology and healthcare sectors. Consistent with the firm's strategy over many funds, the majority of capital will be concentrated in early-stage opportunities with select growth-stage investments.

"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, Managing General Partner, NEA. "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 bestówork alongside entrepreneurs to build great companies that will shape the future of how we live, work and play."

The new fund marks Sandell's second as sole managing general partner, with Tony Florence leading the firm's technology investing practice and Mohamad Makhzoumi recently promoted to head of healthcare investing. Landsman's promotion underscores the firm's longstanding commitment to promoting from withinóall of NEA's general partners were promoted to their current roles, with an average tenure of more than 12 years.

"Having worked with Liza over many years before she joined NEA, we knew she would be an outstanding addition to our teamówe 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," said Tony Florence, General Partner and Head of Technology Investing, NEA. "Her significant operating experience, especially with fast-growing consumer companies, is a tremendous asset to our team and our portfolio."

Landsman's prior roles include president and member of the founding executive team at Jet; CMO and member of the executive committee at E*TRADE; global head of digital for BlackRock; and various leadership roles at Citigroup and IBM earlier in her career. Primarily focused on commerce and fintech, she currently works closely with Burrow, Mejuri, Goop, Luminary, Hello Alfred, Flow.io and THE WELL.

About NEA

New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $24 billion in cumulative committed capital since the firm's founding in 1977, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 230 portfolio company IPOs and more than 390 mergers and acquisitions. www.nea.com.


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