Menlo Park, Calif. – Venture capital firm New Enterprise Associates (NEA) has launched a new seed fund to provide smaller amounts of funding to fledgling start-ups, Dow Jones VentureWire reported.
NEA, which over the years has committed about $11 billion to more than 650 companies, reportedly has used a portion of its NEA XIII fund to establish its new NEA Seed fund, aiming to boost the firm’s reputation among tech entrepreneurs.
VentureWire, citing people who attended NEA’s recent annual meeting, said the firm plans to invest between $50,000-$500,000 at a time, though the exact size of the fund hasn’t been disclosed.
NEA focuses on IT, healthcare and energy technology.
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http://tinyurl.com/3eqgc7x (VentureWire)
