New Enterprise Associates raises $6.2B to invest in technology and healthcare startups

Plus: Vision Ridge Partners raises $700M fund to invest in sustainable energy, healthcare, and agriculture companies

Inside.com Part of   Network January 27, 2023

New Enterprise Associates has raised $6.2B to invest in technology and healthcare startups. The firm will deploy the money through two separate funds. More: NEA will invest in companies across all stages, from Seed to IPO. This funding brings the total assets that NEA manages to $25B. The firm has invested in more than 270 companies since its inception in 1997. Some of its portfolio companies are: Cloudflare, Genies, Databricks, Silverhealth, etc. New Enterprise Associates will operate an early-stage fund and another growth-stage fund. This funding round is the largest in the company's history.

Vision Ridge Partners has raised a $700M fund to invest in sustainable energy, healthcare, and agriculture companies. The firm is based in Boulder, Colorado. More: Vision Ridge Partners invests exclusively in companies that have sustainable practices. The firm has had several portfolio companies exit: Key Capture Energy, Clean Focus, Sunworld, Vanguard, EVGO, and VisionFleet. The company manages $3.1B for its institutional clients. Vision Ridge Partners claims that it holds a competitive advantage due to its decades-long experience in the industry. In addition to its office in Boulder, the firm has an office in New York. Previously, the company raised a $1.25B Sustainable Asset Fund.

Boston-based VC firm Volition Capital has closed a $675M fund. The firm manages $1.7B worth of assets. More: Volition Capital invests in high-growth, founder-owned companies that operate in verticals such as SaaS, healthcare tech, cybersecurity consumer, etc. The firm has had over 10 portfolio company exits so far, some of which are: Chewy.com, JazzHR, Insite, Cortera, LoanLogics, Connatix, Ping Identity, G5, GeoLearning, Stylesight, etc. Most of Volition Capital's investments focus on the North American market. This is the company's fifth fund since being founded in 2010 and will be named Capital Fund V.

California-based Pegasus Tech Ventures has announced the launch of a $100M fund in cooperation with Japanese chemicals company Denka. Pegasus has invested in SpaceX, Twitter, Airbnb, etc. More: Pegasus Tech Ventures is known for its Venture-as-a-Service model, which invests in startups by partnering with established corporations that want to enter the VC world. Pegasus has invested in over 250 companies worldwide, including SpaceX, Twitter, Airbnb, SoFi, Doordash, 23andMe, Color, Carbon, and many more. This fund will invest in startups in the U.S., Europe, Asia, and Israel. The firm manages assets that are valued at $2B. Denka is a Japanese that has been active for 107 years. It primarily works in manufacturing chemicals used in IT, electronics, pharmaceuticals, etc.

💵 Today's funding: Health tech iVexSol (Massachusetts), provides critical materials needed for gene therapy development: $23.8M A extension led by Bristol Myers Squibb, Charles River Laboratories, and Asahi Kasei Medical. Insurtech iLife Technologies (California), aims to shorten sales cycles and reduce office expenses for insurance companies: $17M A led by Foundation Capital, Brewer Lane Ventures, and SCOR Ventures, with participation from GTMFund and OpenView Partners.  Fintech Method (Texas), offers an API that enables fintech developers to embed repayment, balance transfers, and bill pay automation into their apps: $16M A led by Andreessen Horowitz, with participation from Truist Ventures, Y Combinator, Abstract Ventures, SV Angel, and others. Artificial Intelligence Hume AI (New York), aims to build technology with the emotional intelligence needed to take care of human well-being: $12.7M  A led by Union Square Ventures with participation from Northwell Holdings, Comcast Ventures, LG Technology Ventures, Wisdom Ventures, and Evan Sharp. SaaS Raven.ai (Canada), provides data analytics for frontline operations: $12M A led by Momenta Ventures and Chartline Capital Partners with participation from Celtic House Venture Partners, Export Development Canada, and angel investors. Supply Chain PortPro (New Jersey), provides software that helps make transportation management more efficient: $12M Growth led by Avenue Growth Partners. Transportation ProovStation (France), provides vehicle testing software that helps find technical issues: $11.2M led by Supernova Invest, with participation from Otium Capital and Crédit Agricole Création. Web3/Cryptocurrency StoryCo (California), provides a Web3 solution that aims to decentralize movie distribution: $6M Seed led by Collab + Currency and Patron with participation from Floodgate Ventures, Blockchange Ventures, etc.

Quick Hits: We know that talent development is a major challenge. So we made a planner to lend a helping hand!* Calfornia-based People Science, a research company that studies alternative medicines, has raised $5.3M in Seed funding led by Acre Venture Partners with participation from Bluestein Ventures, THIA Ventures, and FORM Life Ventures.  California-based ValuesCo has raised a $2.7M Seed funding round led by Flori Ventures, Metaweb Ventures, OWN Fund, and angel investors. Other Ventures led a $2.2M funding round for Roots Homes, a Las Vegas, Nevada-based property tech company that enables homeowners to invest through fractional ownership. Behind Genius Ventures and Waveline VC also participated. Free From Market, a Kansas City-based company that provides a digital platform for hospital patients, has raised a $2.1M Seed funding round led by Bluestein Ventures, with participation from Acumen America, Beta Boom, KCRise Fund, 1st Course Capital, and AssetBlue Ventures. Looking for the right learning and development tools in 2023? Don't decide until you've read this comprehensive checklist.* *This is sponsored content.

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Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords.

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