New Enterprise Associates 18, L.P.
New Enterprise Associates · adviser of record: NEA Management Company, LLC · 2021 vintage
New Enterprise Associates 18, L.P. is a 2021 venture fund managed by New Enterprise Associates, with $2.8bn raised (Form D, amount sold). It reported $5.8bn in gross assets at year-end 2025, 2.05x its size, its highest reported value.
- Latest value held
- $5.8bn year-end 2025
- Peak
- $5.8bn year-end 2025
- Fund size
- $2.8bn Form D, amount sold
- Held vs. size
- 2.05x peak 2.05x
Value held by year-end
Gross asset value reported on Form ADV at each year-end. Dashed line: fund size. Open in the Fund Tracker
| Year-end | Gross assets | ÷ size | Change |
|---|---|---|---|
| 2025 | $5.8bn | 2.05x | +91% over 2 yrs |
| 2023 | $3.1bn | 1.07x | +5% |
| 2022 | $2.9bn | 1.03x | +572% |
| 2021 | $435mm | 0.15x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| LACERS | 2025-12-31 | $40mm | 0.17x | 2.16x | 1.99x |
| CalSTRS | 2025-06-30 | $40mm | 0.11x | 1.86x | 1.75x |
Latest report from each pension, as multiples of paid-in capital. Michigan reports dollar value held, shown under Still held.
What registered funds report
| Holder | As of | Value of stake | Value ÷ cost |
|---|---|---|---|
| AMG Pantheon Master Fund, LLC | 2026-06-30 | $11.1mm | 2.11x |
From SEC Form N-PORT, filed by mutual funds and other registered funds that hold an interest in this fund.
Other funds from New Enterprise Associates
- NEA SH SPV, L.P. 2023
- NEA 18 Venture Growth Equity, L.P. 2021
- NEA BH SPV II, L.P. 2020
- NEA Ventures 2021, L.P. 2020
- New Enterprise Associates 17, L.P. 2019
- NEA BH SPV, L.P. 2019
- Connect Ventures I, L.P. 2019
- NEA Ventures 2020, L.P. 2019
- NEA Ventures 2019, L.P. 2018
- New Enterprise Associates 16, L.P. 2017
- NEA Ventures 2018, L.P. 2017
- NEA Ventures 2017, L.P. 2016
All New Enterprise Associates funds
About these numbers
Gross asset value is what the manager reports holding in the fund at each fiscal year-end, on SEC Form ADV, Schedule D. It includes the GP’s own commitment and is before carried interest, so it is not the LPs’ net return, and it does not show cash already distributed. A fall in value can mean distributions, markdowns or both. Fund size is the amount sold reported on Form D, which for some funds reflects only a first close. Private fund ID 805-1104398481. Data updated October 13, 2026.
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