NEA closes in on $3.6bn with healthcare fund

New Enterprise Associates Inc. (NEA) closed its latest fund with $3.6 billion, the largest closing in the firm’s 42-year history. Officials also announced that in conjunction with the new fund, Liza Landsman has been named general partner. She joined the firm’s New York office as a venture partner in 2018 after being president of NEA portfolio company Jet.com, which focuses on software and services investments across the consumer landscape. The new fund brings the fund of fund firm’s committed capital to nearly $24 billion over its 42-year history. The strategy invests capital over many funds, the majority of capital will be concentrated in early-stage opportunities with select growth-stage investments. “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,” Scott Sandell, managing general partner at NEA. This new fund is Sandell’s second as a 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 is a realization of her significant operating experience, especially with fast-growing consumer companies, said Florence, who is general partner and head of technology investing at NEA. Previously, Landsman has held roles including 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 financial technology, she currently works closely with Burrow, Mejuri, Goop, Luminary, Hello Alfred, Flow.io and THE WELL.

NEA closes in on $3.6bn with healthcare fund

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