This week, New Enterprise Associates – known to its friends as NEA – announced closing on a $3.3 billion venture capital fund, with roughly 10% of that total going to Medtech companies.
The new allocation follows a $3.15 billion pool raised by NEA in 2015. The proximity of fund closing and size means the firm’s broader investment strategy isn’t likely to change much. But we asked partner Justin Klein, MD, how might the $300 million or so invest in Medtech companies be deployed differently than in the prior fund.
Dr. Klein, speaking at the Medtech Conference in Minneapolis, says NEA will walk softly when pursuing new Medtech rather than put capital to work too aggressively.
“We try to be very approachable by companies in all stages,” he says. “In some ways we have this terrific advantage or opportunity in the market because of our capital base. And we try to make sure that confers benefits to the companies as much as ourselves.”
