"It's a Rubik's Cube."
That's what New Enterprise Associates general partner Harry Weller told me about the monster venture capital firm's philosophy regarding the management of its giant funds. The firm has raised more than $13 billion across 14 funds since its inception in 1977, the last three of which have been between $2.3 billion and $2.6 billion.
What he means by the Rubik's Cube comparison: The Chevy Chase, Md., company, one of the largest venture capital firms in the world, devotes certain portions of its funds to certain sectors, certain geographic areas and companies at certain levels of maturity, as if each was along one axiom of the cube.
Image: Harry Weller likens NEA's investment allocations to a Rubik's Cube. Joanne S. Lawton