The 37 year-old firm has told investors to expect formal documents by year-end for its fifteenth fund, which is expected to target approximately $2.8 billion. That’s nearly a 10% increase from the $2.6 billion NEA raised for Fund 14 in the summer of 2012, which itself was the industry’s record-holder (just edging out a $2.56 billion fund raised in 2006 by Oak Investment Partners). It also told prospective investors that longtime partner Scott Sandell will be promoted to co-managing partner, alongside Peter Barris.

No major changes are anticipated for NEA’s investment strategy, which can be best-described as generalist. The firm has nine offices (including four in China and India), and invests between $1 million and $50 million in companies that vary in terms of both stage and sector.

Some of its best historical investments have included 3Com, Clovis Oncology (CLVS), Groupon (GRPN), Alkermes (ALKS), WebMD (WBMD) and Workday (WDAY), TiVo (TIVO) and Tableau Software (DATA). Plus, NEA co-founder and chairman Dick Kramlich was an early investor in Apple (AAPL).

Current portfolio companies include Buzzfeed, Houzz, Intarcia Therapeutics, Hearsay Social and MongoDB.

NEA declined to comment on the new fundraising effort.

Sign up for our daily newsletter on deals and deal-makers: GetTermSheet.com