New Enterprise Associates

Scott Sandell serves as Executive Chairman and Chief Investment Officer, overseeing the investment strategy. Co-CEOs Tony Florence and Mohamad Makhzoumi run the firm's management, while sector heads Rick Yang (Technology), Ali Behbahani (Healthcare), and Paul Walker (Healthcare) lead domain-specific investing. The firm operates as a partnership with broadly distributed decision-making across its general partners.

NEA relies on a five-decade network of repeat founders, a large team of venture partners and advisors with operating backgrounds, and a physical presence on Sand Hill Road as well as in New York and London. Its venture partners include former GE CEO Jeff Immelt and former FDA Commissioner Scott Gottlieb, providing direct lines into industrial technology and healthcare regulatory ecosystems.

NEA is an institutional venture capital firm, not a family office. It raises funds from limited partners and has a dedicated LP-relations function. While it has retained the same partnership culture since 1977, its capital comes from external institutional investors.

NEA makes direct investments in companies from seed to growth stage and also holds public-equity positions post-IPO. The firm has not publicly disclosed a fund-of-funds or external-manager commitment program, and its public materials emphasize direct, company-level partnerships.

NEA invests across the full company lifecycle, explicitly naming idea, seed, Series A through D, and IPO-stage capital on its website. This stage-agnostic approach allows the partnership to support companies from formation through public listing and beyond, maintaining positions rather than exiting at a predetermined point.

NEA operates as a single integrated firm with no publicly disclosed affiliated spinout funds or separately branded vehicles. The partnership has chosen internal succession and sector-head leadership rather than launching separate platform brands, keeping technology and healthcare investing under one organizational structure.

NEA leads and co-invests in rounds, and its large partnership team suggests capacity to anchor or syndicate financings. The firm does not publicly market a dedicated co-investment program for outside managers, but its historical deal activity includes participation alongside other venture firms in large growth rounds and pre-IPO capital raises.