NEA collects $2bn and raises target for new fund

New Enterprise Associates has collected about $2.1bn for its 14th fund, attracting commitments from 146 investors, according to an SEC filing.

Venture capital firm New Enterprise Associates has collected about $2.1 billion for its 14th fund, according to documents filed with the US Securities and Exchange Commission.

Fund XIV is targeting about $2.6 billion, according to the filing, up from a previous target of $2.3 billion listed in a filing in March. Limited partners in Fund XIV include the Teachers’ Retirement System of Louisiana and the Houston Municipal Employees’ Pension System. The fund has received commitments from a total of 146 investors, according to the filing.

NEA was unavailable for comment at press time.

The firm’s previous fund collected $2.5 billion in 2010.

Last month, NEA invested alongside Google Ventures in AVOS Systems, an Internet company led by YouTube co-founders Chad Hurley and Steve Chen. Also in April, NEA and Kleiner Perkins Caufield & Byers invested $16 million in web-based education platform Coursera.

NEA has offices in the US, China and India. In China, NEA primarily makes early and late stage investments in companies in the technology, healthcare and consumer products and services sectors. It also invests indirectly in the country through two affiliates, venture capital firms Northern Light and BioVeda China. The firm has a team of seven advisors based in its Beijing and Shanghai offices and a five-strong investment team in Menlo Park.

In India, NEA makes mid to late stage investments. It also invests indirectly in the country through NEA-IndoUS, a venture capital firm focused on technology and technology-enabled services. The firm has seven members of its team based in offices in Mumbai and Bangalore and another four India-focused staff in Menlo Park.