Seasoned venture capital firm New Enterprises Associates (NEA) raised $6.2bn across two new funds, making it its largest fundraise to date and bringing the firm’s assets under management to over $25 billion.

Both funds will be invested across a broad range of technology and healthcare sectors, including enterprise and consumer technology, digital health and life sciences.

Known for investments in Salesforce, Workday and Robinhood, the fund will focus on early-stage investing and the other to venture growth-stage opportunities.

Scott Sandell, who’s been with the firm since 1996, will continue to lead NEA as its managing general partner.

“We are deeply grateful to our Limited Partners for the trust they have placed in our team, and excited to have raised the largest pool of capital in NEA’s history at a time of great uncertainty, but also tremendous opportunity,” said Sandell.

The large raise comes during a tough period as many in the industry are averse to making risky investments in new, unproven fund managers. But the environment for established firms like NEA is seen as a safer bet.

Founded in 1977, NEA is one of the oldest venture capital firms in the country. The firm has had more than 270 portfolio company IPOs and over 450 mergers and acquisition events.