FORTUNE -- Tableau Software today increased the price range of its pending IPO to between $28 and $30 per share, meaning that it could raise upwards of $216 million when it prices tomorrow night. It had originally planned to price at between $23 and $26 per share.
And no one is happier about the bump than venture capital firm New Enterprise Associates, which stands to generate a 20x return on its investment.
NEA originally invested $5 million into the Seattle-based data visualization company nine years ago at just 47 cents per share. It pumped in another $10 million in 2008 at $2.29 per share.
Then, in 2010, NEA and Meritech Capital Partners launched a tender offer for at around $5.90 per share. NEA purchased another $14.2 million worth of Tableau stock, while Meritech invested $17.8 million.
If Tableau (DATA) prices at $30 per share, NEA's aggregate investment of $29.2 million would be worth around $588 million -- which is around a 20x return. Most of that would be on paper since NEA only is selling around 5% of its position in the IPO, but it also doesn't include the possibility of Tableau pricing higher and/or experiencing a first-day listing pop on Friday. And if most recent enterprise software IPOs are any guide -- particularly ones led by Goldman Sachs (GS) -- then both bumps are a pretty good bet.
Meritech would experience a 5.6x multiple on its investment at $30 per share, with its $17.8 million investment valued at around $99.4 million. It is not planning to sell any shares in the IPO.
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BuzzFeed investor explains his interest in the social publisher.
FORTUNE -- Social publisher BuzzFeed today announced that it had raised nearly $19.3 million in new venture capital funding, led by existing investor New Enterprise Associates.
So we took a few minutes to chat about BuzzFeed with NEA partner Patrick Kerins, who sits on the company's board of directors. What follows is an edited transcript:
FORTUNE: You led a $15.5 million financing just last MOREDan Primack - Jan 3, 2013 12:56 PM ET
How did Workday's VCs fare?
FORTUNE -- Human resource software company Workday (WDAY) last night priced the largest venture-backed IPO since Facebook (FB), raising $637 million. Unlike Facebook, however, Workday has seen its shares soar more than 75% -- climbing from the $28 per share offering price to nearly $50 (as of this writing).
Kind of seems that Workday (WDAY) left some big money on the table. Possibly more than half a MOREDan Primack - Oct 12, 2012 2:15 PM ET
Despite what you may have heard, big is beautiful.
By Tom Grossi, contributor
Many smart venture capital observers have lamented the emergence of VC "megafunds," like those managed by my firm New Enterprise Associates. For example, the Kauffman Foundation recently issued a report claiming that "big VC funds fail to deliver big returns," while Silicon Valley Bank said that "small funds have a better performance profile than large funds."
Yet the trend over the MOREOct 4, 2012 8:59 AM ET
The biggest venture capital firm gets bigger.
FORTUNE -- New Enterprise Associates, the original investor in Groupon (GRPN), is closing in on one of the largest venture capital fund ever raised, Fortune has learned.
The firm today revealed in an SEC filing that it already has secured more than $2 billion for NEA 14, which began being marketed earlier this year with a $2.5 billion cap. A source familiar with the situation MOREDan Primack - May 9, 2012 4:50 PM ET
Tableau Software is planning to go public in 2013, Fortune has learned.
Here's how the story developed: Yesterday an outside spokesman sent over an unsolicited email, in which he said: "Next week—on the heels of yet another record year of earnings and recently announced plans to add 300 new employees—Tableau Software, which is disrupting the analytics world with an application that turn data into beautiful maps and graphs, will announce its plans MOREDan Primack - Feb 22, 2012 4:12 PM ET
New Enterprise Associates has no celebrities on its staff. It stays under the radar - and lets its results do the talking.
FORTUNE -- Quick, name the largest venture capital firm in the world. If you didn't come up with New Enterprise Associates (NEA), you're not alone. Although it has over 100 employees in eight offices, big-name investments such as Groupon and Diapers.com, and a fantastic track record, NEA keeps a very MOREDan Primack - Nov 7, 2011 5:00 AM ET
Former Google exec and Khosla partner has a new job.
Alex Kinnier has joined venture capital firm New Enterprise Associates as a partner, Fortune has learned.
Kinnier most recently was a Silicon Valley-based partner with Khosla Ventures, but left earlier this year to be closer to his family on the East Coast. His initial plan was to launch a start-up, but later opted to remain in the investment business. He will work MOREDan Primack - Nov 1, 2011 8:00 AM ET
Poggled, a new deals site focused on nighttime drink and party packages, has raised $5.6 million in venture capital funding, according to a regulatory filing. Not surprisingly, its investors are the same folks who helped get Groupon started two years ago.
The Chicago-based company was originally seeded by Lightbank, the incubator run by Groupon co-founders Eric Lefkofsky and Brad Keywell. The new round was led by New Enterprise Associates, which previously MOREDan Primack - Apr 5, 2011 2:11 PM ET
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