NEA Closes $2.5B Fund

Menlo Park-based New Enterprise Associates has closed a $2.5B venture capital fund, the company said today. NEA said that funding for NEA 12 included its existing limited partners, and will continue the same focus as its recent NEA 10 and NEA 11 funds. This fund will also be used to expand into China and India. The new close brings the total managed by NEA to approximately $8.5B in capital.