Related News
US$2.5b fund edges closer to completion
NEW Enterprise Associates, the venture-capital firm that invested in Juniper Networks Inc and Salesforce.com Inc, has almost completed raising a US$2.5-billion fund, according to insiders.
The fund will close shortly after the California Public Employee Retirement System formally makes a commitment to invest, they said. The firm said in a regulatory filing on December 18 that it might raise as much as US$3 billion, Bloomberg News said.
The fund, which at US$2.5 billion would be tied for the fifth-biggest in the venture-capital industry's history, suggests that the largest firms can still raise money in the midst of recession.
Investments will fall 10 percent or more next year, as venture firms demand lower prices for fledgling companies, the National Venture Capital Association said last month.
"The big firms can do what they want, because everyone knows this fund may be your one chance to get in," said Lise Buyer, a former venture capitalist who consults for companies preparing to go public. New Enterprise usually only takes money from pension funds and foundations it has dealt with before, she said.
The fund will reflect the firm's emphasis on the health-care industry, the insiders said. New Enterprise, based in Menlo Park, California, and Chevy Chase, Maryland, hired four new partners last year. Three focus on health care, including former MedImmune Inc Chief Executive Officer David Mott, according to New Enterprise Associates' Website.
The fund will be the 13th raised by New Enterprise Associates since 1978.
The fund will close shortly after the California Public Employee Retirement System formally makes a commitment to invest, they said. The firm said in a regulatory filing on December 18 that it might raise as much as US$3 billion, Bloomberg News said.
The fund, which at US$2.5 billion would be tied for the fifth-biggest in the venture-capital industry's history, suggests that the largest firms can still raise money in the midst of recession.
Investments will fall 10 percent or more next year, as venture firms demand lower prices for fledgling companies, the National Venture Capital Association said last month.
"The big firms can do what they want, because everyone knows this fund may be your one chance to get in," said Lise Buyer, a former venture capitalist who consults for companies preparing to go public. New Enterprise usually only takes money from pension funds and foundations it has dealt with before, she said.
The fund will reflect the firm's emphasis on the health-care industry, the insiders said. New Enterprise, based in Menlo Park, California, and Chevy Chase, Maryland, hired four new partners last year. Three focus on health care, including former MedImmune Inc Chief Executive Officer David Mott, according to New Enterprise Associates' Website.
The fund will be the 13th raised by New Enterprise Associates since 1978.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.