New Enterprise Associates, a prodigious venture investor in healthcare across biotech, medical devices and healthcare services, is raising a $2.5 billion fund, according to an SEC document. If its previous funds are anything to go by, it could be its largest fund to date.
It currently invests in a total of 96 companies in the healthcare sector, according to its website, as well as technology companies. Its active investments include 50 biopharma companies, 27 medical device businesses and 17 offering healthcare services, including Welltok and BetterDoctor. The company’s investment strategy invests across all stages from seed to even public companies.
Calls to the company for comment were not immediately returned.
This would be the 15th fund for the company. Its previous fund — NEA 14 — raised about $2.56 billion in 2012, according to SEC documents. NEA 13 in 2009 raised $2.45 billion. Each fund’s initial Form D was a fair bit lower than subsequent amended filings.
Venture capital funds raised more than $29 billion last year, including $5.6 billion in the fourth quarter, according to a report by the National Venture Capital Association and Thompson Reuters. A chart provided by NVCA showed that VC funds in California totaled 103 last year
With the bullish vibe emanating from San Francisco at the JP Morgan Healthcare conference this week, combined with the big year VC fundraising had in 2014, this year is poised to produce quite a bit of dealflow in the heathcare sector.
