New Enterprise Associates XI
New Enterprise Associates Vintage 2004 Reported by CalSTRS
What each LP reports
| LP | As of | Committed | Paid in | Distributed | Remaining value | Net IRR | TVPI | DPI | Paid in vs. value |
|---|---|---|---|---|---|---|---|---|---|
| CalSTRS | 2025-06-30 | $75M | $75M | $192M | $6.2M | 15.3% | 2.65x | 2.57x |
Paid in Distributed Remaining value
2004 vintage in CalSTRS’s portfolio
All 10 funds of vintage 2004 in CalSTRS’s report, ranked by net IRR. Private equity, venture, and other strategies are mixed, so treat this as context rather than a strategy benchmark.
| # | Fund | Net IRR | TVPI | DPI |
|---|---|---|---|---|
| 1 | Onex Partners I, L.P. | 38.0% | 3.07x | 3.06x |
| 2 | Permira Europe III | 24.1% | 1.66x | 1.66x |
| 3 | New Enterprise Associates XI, L.P. | 15.3% | 2.65x | 2.57x |
| 4 | DCM IV | 11.8% | 3.41x | 3.41x |
| 5 | Summit Subordinated Debt Fund III, L.P. | 8.6% | 1.46x | 1.44x |
| 6 | Clearstone Venture Partners III-A, L.P. | 8.2% | 2.79x | 2.07x |
| 7 | Paul Capital VIII-B, L.P. | 7.6% | 1.34x | 1.33x |
| 8 | ARCH Venture Fund VI, L.P. | 2.4% | 1.24x | 1.24x |
| 9 | Oak Investment Partners XI, L.P. | -2.5% | 0.82x | 0.82x |
| 10 | Investitori Associati IV | -9.5% | 0.57x | 0.57x |
Other reported funds by this firm
About this data
CalSTRS: CalSTRS Private Equity Portfolio Performance, as of June 30, 2025. Since-inception IRR as calculated by CalSTRS from its own cash flows with each partnership; CalSTRS does not label it net or gross; because it is computed from CalSTRS's own contributions and distributions, it is after the partnership's fees and carried interest. CalSTRS says IRRs in a partnership's first three years are not meaningful. CalSTRS reports no multiple: TVPI = (distributed + market value) / contributed and DPI = distributed / contributed are computed. IRR is blank for commitments with no capital contributed. View source
Figures are as each LP reports them for its own investment, so they can differ between LPs because of timing, fees, and share class. Not investment advice.