Jul 17, 2009 - 1401 days ago
Data Domain acquisition to yield big pay day for NEA
Bloomberg News estimated today that New Enterprise Associates stands to make a 26-fold return on its initial investment in Data Domain, the maker of storage backup tools that agreed to be acquired for $2.1 billion by EMC after a bidding war with NetApp.
NEA should make $372.4 million on its $14.7 million investment, according to NEA partner Scott Sandell. The funding was made out of a $2.3 billion fund raised by NEA that was the sixth biggest in venture capital history, according to Bloomberg.
NEA, one of the oldest venture firms in Silicon Valley, has backed such companies as Juniper Networks, Silicon Graphics and 3Com.
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May 7, 2011