New Enterprise Associates Announces Mega Venture Fund of $2.6 Billion

New Enterprise Associates, or NEA, is officially announcing a $2.6 billion fund, one of the largest venture capital funds ever raised. It marks the Washington, D.C.-area company’s 14th time at bat, and its third consecutive fund totaling more than $2.5 billion. The megafund is part of a larger consolidation trend in the industry, in which 10 VC firms now account for nearly one-third of the dollars in the space.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald