New Enterprise names new principal

Ravi Viswanathan will focus on information technology for the US venture capital giant as it begins investing its new Fund 11.

Reston, Virginia-based venture capital firm New Enterprise Associates announced the arrival of Ravi Viswanathan as principal.

 

Viswanathan will focus on information technology investments from the firm’s headquarters. He comes to NEA from Goldman Sachs, where he was involved in direct, fund and secondary investments in IT and life sciences. Prior to that, Viswanathan worked at McKinsey & Company, advising clients in the software, communications and pharmaceutical sectors on strategy, acquisitions and new business building.

 

 “Ravi strengthens our team and brings additional scientific, operational and investment skills to our partnership [and] will be a real asset as we pursue investment opportunities for NEA 11, our new fund,” NEA managing general partner Peter Barris said in a statement.

 

Earlier this month, New Enterprise Associates closed its NEA 11 on $1.1 billion, after a whirlwind fundraising period that took less than six months. The firm focuses its investing on information technology and life sciences. Following the US tech meltdown, the firm has shifted its focus more towards healthcare investing over the last several years, maintaining a 60/40 ration between its IT and life sciences investments. The addition of this latest fund brings NEA’s total capital under management to $6 billion. The firm, founded in 1978, is a major player in the US venture capital industry and also has an office in Baltimore and Menlo Park, California.