Office address: 2855 Sand Hill Road, Menlo Park, CA 94025
Website: nea.com
Year established: 1977
Company type: financial services
Employees: 200+
Expertise: venture capital, healthcare, technology, fintech, life sciences, digital health, consumer, enterprise, mergers and acquisitions, IPO advisory
Parent company: N/A
Key people: Tony Florence and Mohamad Makhzoumi (co-CEOs); Scott Sandell (executive chair); Ali Behbahani, Paul Walker, Rick Yang, and Carmen Chang (partners); Philip Chopin (managing director)
Financing status: venture capital-backed
New Enterprise Associates (NEA) is a US-based venture capital firm headquartered in Menlo Park. The firm invests in technology and healthcare companies at every stage and manages more than $28 billion in assets as of 2025. It has supported over 280 IPOs, 500 mergers and acquisitions, and helped build more than 100 billion-dollar businesses.
New Enterprise Associates was created by C. Richard Kramlich, Frank Bonsal, Jr., and Charles Newhall III in 1977. Their backgrounds ranged from investment banking to managing large funds, giving NEA a strong foundation from the start.
In 1981, NEA made an early investment in 3Com, a company that later became well known in networking technology. The firm’s second and third funds grew to $45 million and $125 million by 1984.
By the late 1990s, New Enterprise Associates started raising larger funds. The firm continued this trend with funds of $1.1 billion in 2004 and $2.3 billion and $2.5 billion in the following years. In 2010, NEA introduced a $2.5 billion fund, the biggest raised since the 2008 financial downturn.
The company closed a $3.1 billion fund in 2015 and a $3.3 billion fund in 2017, both marking new records for the industry. And in 2021, NEA participated in a $10 million funding round for Tornado, an online brokerage platform.
Over the decades, New Enterprise Associates has partnered with founders and teams in healthcare and technology, supporting many companies through various stages of growth. The firm’s history includes involvement in major advancements and a consistent presence in venture capital.
The firm seeks to support companies at every stage, from early ideas to public offerings. New Enterprise Associates' offerings include:
NEA is also recognized for its strong track record in IPOs and mergers, and for building billion-dollar businesses. The firm’s team approach and broad sector knowledge help founders succeed in fast-changing markets.
New Enterprise Associates’ manifesto says that building new ventures requires imagination, drive, and the willingness to ask for help. The manifesto also describes how it aims to support founders with:
It states that NEA values showing up each day, ready to work alongside entrepreneurs as they pursue new ideas. The team at New Enterprise Associates aims to work together to share expertise and support founders.
Tony Florence is New Enterprise Associates’ co-CEO and has also served as co-president and managing general partner for technology. Before joining NEA in 2008, Florence led Morgan Stanley’s tech investment banking group in New York. He holds both a BA and an MBA from Dartmouth College.
Mohamad Makhzoumi is co-CEO at NEA and was previously co-president and managing general partner for healthcare. Makhzoumi joined NEA in 2000 after building experience in healthcare investing across digital health and life sciences. He also serves on the board of the Lucile Packard Foundation for Children’s Health at Stanford.
Here are other key people at New Enterprise Associates, each bringing unique expertise and leadership:
The leadership team includes investors, operators, and scientists with hands-on experience in building companies. Their backgrounds help them understand what strong partnership and support mean for founders.
In 2025, the company led a $9.3 million seed round for Elion, a startup that helps health systems make better technology choices. By backing Elion, New Enterprise Associates seeks to support tools that bring more clarity and data to healthcare purchasing decisions. NEA’s funding will help Elion expand its platform and reach more hospitals, health systems, and payers looking for smarter solutions.
NEA also completed the $1.5 billion purchase of NeueHealth, taking the company private after a period of financial challenges. The firm already holds a majority stake and now gives NeueHealth more flexibility and resources to focus on value-based care. This move strengthens NEA’s position in healthcare and supports its long-term strategy of backing companies that aim to improve care delivery and growth.
The seed round also featured other prominent participants like founder of Barstool Sports Dave Portnoy and New Enterprise Associates managing general partner Tony Florence.
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