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New Enterprise Raises Record-Breaking $2.8 Billion Venture Fund

New Enterprise Associates Inc. has closed its $2.8 billion fund, the private equity firm’s 15th and the largest pure venture fund on record.

Firms like Warburg Pincus and Summit Partners have raised larger funds, though neither has restricted itself solely to venture capital deals. New Enterprise raised $2.6 billion in 2012 for its 14th fund, which was cited by the National Venture Capital Association as the largest venture capital investment arm until it was topped by the firm’s current fund.