Maryland VC Firm NEA Raises Historically Huge Fund

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You may not have money for a summer vacation, but there is money floating around out there.

Dealbook is reporting that Maryland venture capital firm New Enterprise Associates, which had its start in Baltimore and has a Baltimore office, just raised an astounding $2.6 billion fund, “one of the largest in venture capital history.” The figure is not only remarkable for its size, but for the rapidity with which the Bethesda-based company was able to raise the money.

Last year, NEA raised another colossal amount, $2.5 billion, but it took seven months. This year? A mere two months!  I guess it’s easy to raise money once you’ve proven yourself, and NEA certainly has with investments in Groupon, Millennial Media and Buzzfeed, among others. The company will use the money to invest in technology and healthcare, and devote more of its capital to early-stage start-ups.

So good luck to NEA and all the lucky companies that NEA is soon to invest in.  If you’re ever looking to invest in a local website, I can recommend one…



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