New Enterprise Associates (NEA) has raised $2.45 billion from 189 investors toward its thirteenth fund, New Enterprise Associates 13 LP, according to an SEC filing. The vehicle has a $2.5 billion target and is using Greenhill & Co. as its placement agent. The general partners of Baltimore-based NEA will contribute $24.8 million to the fund.
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Ken said on October 20, 2009
That’s a pretty weak GP commitment, isn’t it? Looking at their site I counted over two dozen GPs and Partners so it’s less than $1mm per partner. Looks like they weren’t asked to step up for more than the old standard 1%.
PEHub Administrator said on October 20, 2009
Ken – agreed. its exactly 1%, which is surprising given how many firms have increased their GP commitment on new funds in this environment.
Erin