Blake Wu
About Blake Wu
Blake Wu is a Partner at New Enterprise Associates (NEA) focused on digital health, healthcare services/IT, and biopharmaceuticals, with prior roles in healthcare private equity at Ares Management, investment banking at Moelis & Company, and equity research at Barclays Capital; he holds a BS in Economics from The Wharton School (finance, real estate, management) . He was appointed to NeueHealth’s (NEUE) board as part of the take-private closing on October 2, 2025, serving as a director of the surviving corporation post-merger .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| NEA | Partner; elevated to NEA’s Venture Capital Investment Committee | 2014–present | Leads investments in digital health and biopharma; board director/observer on multiple portfolio companies |
| Ares Management | Private Equity (Healthcare) | Prior to 2014 | Healthcare-focused investing |
| Moelis & Company | Investment Banking (Healthcare) | Prior to 2014 | Transaction execution in healthcare |
| Barclays Capital | Equity Research | Prior to 2014 | Sell-side healthcare analysis |
External Roles
| Organization | Role | Notes |
|---|---|---|
| NeueHealth (NEUE) | Director of Surviving Corporation (post-merger) | Appointed at closing of take-private on Oct 2, 2025 |
| SetPoint Medical | Director/Observer | Listed by NEA and in press release as board director or observer |
| Slope | Director/Observer | As above |
| Spiras Health | Director/Observer | As above; co-authored NEA content on the company |
Board Governance
- Committee assignments/chair roles: Not disclosed for the post-merger Surviving Corporation; the company delisted at closing and ceased public reporting, limiting committee visibility .
- Independence status: NEA had contractual board appointment rights via a Warrantholders Agreement, designating “the Director Designee” (explicitly naming Blake Wu) and requiring the designee to meet independence and NYSE/SEC standards while the company was public; post-take-private, exchange independence rules no longer apply, and his NEA partnership creates a significant related-party linkage to the controlling shareholder .
- Attendance/engagement: No disclosure for Wu in 2024 (he was not yet on the board); overall 2024 board/committee meeting counts and attendance pertained to prior directors .
Fixed Compensation
- Director cash/equity compensation for Wu is not disclosed post-merger; 2024 non-employee director policy and awards applied to prior public-company directors (not including Wu) .
Performance Compensation
- No disclosure of director performance-linked equity (e.g., PSUs) or metrics for Wu post-merger; pre-merger director awards were time-vested RSUs for non-employee directors .
Other Directorships & Interlocks
| Interlock/Transaction | Date | Key Terms | Governance Implication |
|---|---|---|---|
| NEA beneficial ownership and rights | As of Apr 8, 2025 | NEA-affiliated funds beneficially owned ~56.8% of common stock; had preferred stock, warrants, and registration rights | Controlling shareholder; strong influence over board/strategy |
| 2023 Credit Agreement with NEA | Aug 4, 2023 | $96.4M delayed-draw term loan commitments; warrants at $0.01/share issued to lenders | Related-party financing; potential conflicts on capital allocation |
| Take-private merger with NEA affiliate | Dec 23, 2024 (agreement); Oct 2, 2025 (closing) | Cash consideration $7.33/share; rollover by NEA and others; directors of Merger Sub (incl. Wu) became directors of Surviving Corp | Change-in-control; board composition aligned with NEA |
| Warrants issuance at closing | Oct 2, 2025 | 1,116,765 warrants at $0.01/share to NEA funds | Dilutive potential; aligns incentives of NEA lenders |
Expertise & Qualifications
- Healthcare investing specialization across digital health and biopharma; portfolio engagement and operational support emphasis .
- Elevated to NEA’s Venture Capital Investment Committee in 2024, indicating firm-level governance responsibility and investment oversight experience .
Equity Ownership
- Individual beneficial ownership (shares/options/RSUs) for Wu at NEUE is not disclosed post-merger. Pre-merger, director stock ownership policy required non-employee directors to hold ≥3x annual cash retainer, and hedging/pledging was prohibited absent pre-clearance; applicability post-private is not disclosed .
Governance Assessment
- Strengths: Deep healthcare investing expertise, board experience at multiple healthcare companies, and alignment with NEA’s operational support model can strengthen strategic oversight and capital access .
- Risks/RED FLAGS: NEA’s controlling stake, financing ties (credit agreement and warrants), and contractual board appointment rights create material related-party dynamics that challenge traditional independence; post-merger committee structure and director compensation are undisclosed, limiting transparency .
- Implication for investor confidence: Expect strong sponsor-led governance and capital support but limited minority shareholder protections (company is private) and heightened conflict management needs; monitoring of related-party transactions and board processes is critical .