NEA promotes three to GP

The dominant US venture capital firm has named Forest Baskett, Ryan Drant and Chip Linehan general partners.

New Enterprise Associates, the Virginia-based venture capital firm with $6 billion under management, has promoted three investment professionals to general partner.

Forest Baskett, Ryan Drant and Chip Linehan were named GP, according to a press release.

In related news, Ravi Viswanathan was promoted to partner.

Baskett and Viswanathan will focus on information technology investing while Drant and Linehan will invest in the healthcare sector.

Baskett joined NEA in 1999 as a venture partner; Drant joined NEA in 1996 as a principal and was promoted to partner in 2002.

Ryan has led or co-led 13 investments during his tenure with NEA, according to the release.

Linehan joined NEA in 1992 as an associate and became partner in 1997.

Viswanathan joined NEA earlier this year as a principal. Previously he worked in the private equity group of Goldman Sachs.

NEA, founded in 1978, maintains offices in Reston, Virginia; Menlo Park, California; and Baltimore, Maryland. In February, closed its 11th fund on $1.1 billion. With 95 percent of its previous fund’s investors returning, NEA secured the final close on its hard cap after a whirlwind fundraising effort that began only last August and was mostly completed by the time of first close at the beginning of December, according to administrative general partner Nancy Dorman.