NEA Promotes Carmen Chang and Ali Behbahani to General Partner

MENLO PARK, Calif., May 23, 2018 /PRNewswire/ -- New Enterprise Associates, Inc. (NEA) today announced that two members of its investing team have been promoted to General Partner: Carmen Chang, a technology investor and Chairman and Head of the firm's Asia practice, and Ali Behbahani, M.D., a healthcare investor focused on the biopharmaceutical and medical devices sectors.

"Carmen and Ali have proven themselves to be outstanding investors, partners and leaders, and I am thrilled to recognize the contributions each has made to our partnership," said Scott Sandell, Managing General Partner, NEA. "Carmen has been instrumental in evolving our China practice, positioning NEA to continue making smart investments in one of the world's most important markets. Ali has played an integral role in keeping our healthcare practice on the cusp of innovation, leading investments in companies like CRISPR Therapeutics and Adaptimmune."

Chang joined NEA in 2012, and was promoted to Chairman and Head of the firm's Asia practice in 2016. She has been actively involved with the seminal events in China's technology sector for over 20 years, and since 2012 has been integrally involved with NEA's activities, partnerships and investments in China. She holds a JD from the Stanford Law School and an MA in Modern Chinese History also from Stanford University. Chang is a director of AAC Technologies Holdings, Alien Technology, Drive.ai, Semiconductor Manufacturing International Corporation (SMIC), STX Entertainment, Tuya and Woebot.

Behbahani joined NEA in 2007 and was promoted partner in 2013. He has seen the healthcare and innovation ecosystems from nearly every angle, previously holding positions as a Venture Associate at Morgan Stanley Venture Partners, as a consultant in business development at The Medicines Company and as a Healthcare Investment Banking Analyst at Lehman Brothers. He concurrently earned an MD from The University of Pennsylvania School of Medicine and an MBA from The University of Pennsylvania Wharton School. Behbahani serves on the boards of directors of the following companies: Adaptimmune, Arcellx, Cardionomic, CRISPR Therapeutics, CVRx, Genocea, Ivantis, Minerva Surgical, Nevro, Nkarta, Oyster Point Pharma and Solace Therapeutics.

About NEA

New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $20 billion in cumulative committed capital since the firm's founding in 1977, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 220 portfolio company IPOs and more than 370 acquisitions. www.nea.com.

SOURCE NEA

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