A side-by-side comparison of two Healthcare investors: Deerfield Management (Power Score 83/100) and New Enterprise Associates (Power Score 80/100), both ranked among the most active firms tracked in this category.
| Deerfield Management | New Enterprise Associates | |
|---|---|---|
| Power Score™ | 83/100 | 80/100 |
| Assets Managed | More than $16B (in assets as of December 2025, per the firm's own About page; the figure could not be checked against Form ADV Item 5.F) | $25B+ |
| Founded | 1994 | 1977 |
| Headquarters | New York, NY | Menlo Park, CA |
| Sectors | Therapeutics, Medical Devices, Healthcare, Diagnostics, Digital Health, Life Sciences | Technology, Healthcare, Life Sciences |
Deerfield describes itself as an investment firm dedicated to advancing healthcare through investment, intelligence and philanthropy, and says it holds a portfolio of more than two hundred private and public investments spanning therapeutics, medical devices, healthcare services, diagnostics and digital health. It states that it invests across capital structures and across company stages, from early-stage startups to mature companies, and that it offers structured finance solutions and customised financing for entrepreneurs and corporate partners in both public and private markets. Alongside the funds it runs an in-house research and data organisation: Deerfield Intelligence is described as the firm's data, technology and AI arm, and Deerfield Discovery and Development (3DC) as its internal R&D engine, taking early-stage therapeutics from discovery through preclinical proof of concept into clinical development. Deerfield also builds companies with academic and health-system partners through named discovery alliances. It is an SEC-registered investment adviser (CRD 157876, SEC file 801-73284) and files quarterly 13F reports covering listed equities, ADSs and convertible notes, so its public-market activity sits alongside its private investing rather than replacing it.
View full Deerfield Management profile →NEA was founded in 1977 by three men who each brought a different piece of the puzzle: Dick Kramlich, who had trained under legendary investor Arthur Rock; Frank Bonsal, an investment banker who had taken startups public; and Chuck Newhall, who had managed investment funds at T. Rowe Price. Deliberately built with offices on both coasts from day one - unusual for the era - NEA's first fund raised just $16 million, a fraction of the more than $25 billion it manages today.
View full New Enterprise Associates profile →