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Venture Capital

Former GE CEO Jeffrey Immelt joins New Enterprise Associates as venture partner

Jeffrey Immelt, former chairman and CEO of General Electric

Jeffrey Immelt, former chairman and CEO of General Electric, has joined venture capital firm New Enterprise Associates as a venture partner, according to a news release.

The position is new.

Mr. Immelt will work closely with technology and health-care companies that the firm has in its portfolio.

"I am excited to join NEA because they understand how to work with visionary entrepreneurs to build successful technology and health-care enterprises," Mr. Immelt said in the news release. "I have a passion for these sectors and I am eager to work with NEA and its partners to develop great businesses, nurture talented leaders and grow diverse teams."

Mr. Immelt was chairman and CEO of GE for 16 years before retiring from the firm on Aug. 1. He was succeeded by John L. Flannery.

Further information could not be learned at press time; New Enterprise Associates spokeswoman Kate Barrett could not be immediately reached for comment.