NEA rakes in $2.5B for new fund
New Enterprise Associates, which remains the largest venture firm in the business, announced that it is closing in on its $2.5 billion target for its new fund, its thirteenth, reports Dow Jones VentureWire. The firm says it will keep the fund open for a bit longer in case others want to contribute. To reach this total, NEA enlisted the help of placement agency Greenhill & Company for $1.2 million. Using placement agents has become a more popular move since the economic downturn. Many firms have been unable to raise new funds at all.
Next Story: Amazon earnings rocket to nearly $200M
Previous Story: Comcast, Adobe, Nielsen, MTV and more at NewTeeVee Live 09
About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
With GreenBeat 2009, VentureBeat's all-star conference on all things Smart Grid, coming up in November, Camille will be expanding coverage of this exciting space. Stay up to date by following @greenbeat2009 on Twitter or by becoming a fan of the event on Facebook here.