New Era was founded on 2 February 2002 by Einars Repše, a politician and central banker who was very popular at that time.

It formed a coalition government with 3 other parties, with the New Era leader Einars Repše as the prime minister.

New Era was in the opposition until October 2004, when it joined a coalition government led by Aigars Kalvītis of the People's Party.

In March 2007, the party established a new structure, in which it had two leaders: Einars Repše and Arturs Krisjanis Karins.

In 2008, prominent MPs and members of the board—Ina Druviete, Karlis Sadurskis, Ilma Cepane and Sandra Kalniete—left the New Era to create Civic Union.

[3] The New Era Party had strong populist leanings and derived most of its appeal from positioning itself as the main anti-corruption force in Latvian politics.