Wednesday, January 21, 2009

peweek wire: NEA

"*** VentureWire this morning reported that Michael Raab will leave New Enterprise Associates, when it finishes raising its thirteenth VC fund later this year. In the meantime, he’ll transition from a partner to a venture partner role.

Semi-sequitur: NEA is one of the few firms out there that operates with an annual budget, instead of a pre-determined management fee. This means that, each year, NEA determines how much money it will require for operations, and then requests that amount from its limited partners. I wonder how the current economic situation has affected NEA’s 2009 budget, from both the request and granting points-of-view. Maybe that’s something for me to work on today…"

1 comment:

Anonymous said...

Mike Raab
Venture Partner
Investing Area: Healthcare

Mike joined NEA in 2002 and is currently a Venture Partner. He specializes in healthcare investments focusing on biotechnology and pharmaceutical sectors. Current board memberships include Amicus Therapeutics (NASDAQ: FOLD), Hyperion, Intarcia, Novacea (NASDAQ:NOVC), Novalar, Nteryx and Zosano Pharma. Mike co-led NEA's investment in 23andMe and Liquidia and is also actively involved in the firm's investments in BrainCells, Fenway Pharmaceuticals and Vitae Pharmaceuticals. Mike is also a member of the Healthcare Advisory Board of the Entrepreneurs Foundation and is a member of the Life Sciences Advisory Board for Silicon Valley Bank. Prior to joining NEA, Mike spent 15 years in operating roles in the biotech and pharmaceutical industries. Most recently, Mike was Senior Vice President, Therapeutics and General Manager of the Renal Division at Genzyme Corporation. Prior to that, Mike was Vice President of Business Development for the Therapeutics Division, responsible for the identification and in-licensing of multiple new therapeutic products. He gained extensive international operational experience while building a commercial infrastructure in Latin America for the Therapeutics and Surgical Products groups for the company. Mike was also Product Manager for Ceredase and was instrumental in the worldwide launch of both Ceredase and Cerezyme, Genzyme’s $1 billion therapies for Gaucher Disease. Mike also spent two years with Genzyme’s Diagnostic products and services division. Previous to Genzyme, Mike held sales and marketing positions at Repligen and Bristol-Myers. Mike received his BA from DePauw University.