Norwest Venture Partners Raises $3 Billion Fund for Early and Growth-Stage Investments

Norwest Venture Partners, a prominent global venture capital and growth equity investment firm, has announced the close of its $3 billion Norwest XVII, LP fund (NVP 17). The new fund will enable the Norwest team to continue partnering with visionary entrepreneurs and teams building the next generation of enduring companies across the US, India, and Israel.

With this latest fundraise, Norwest now has a cumulative $15.5 billion in capital under management, solidifying its position as a major player in the global venture capital landscape. The firm's investment strategy will continue to target high-potential startups with disruptive technologies and scalable business models, aiming to support their growth and drive long-term value creation.

Norwest has been investing in India since 2005 and currently has a portfolio of 23 active companies in sectors like financial services, technology, consumer, B2B, and healthcare. The India team is led by Niren Shah, the managing director and head of Norwest India, and includes recently promoted principals Nikhil Kookada and Ankit Prasad.

Why this matters: The successful fundraising by Norwest Venture Partners demonstrates the persistent trust of investors in the potential of early and growth-stage startups, despite the current 'funding winter'. The firm's focus on the US, India, and Israel markets highlights the growing importance of these regions in the global startup ecosystem.

Since raising their previous $3 billion fund in 2021, Norwest has made 69 new investments and helped 36 portfolio companies achieve liquidity events. The firm's healthcare practice has also expanded, with recent investments in biotech, medical devices, and healthcare software.

Jeff Crowe, senior managing partner at Norwest, stated, "Norwest's diversified investment strategy, long-term commitment, and collaborative approach allow it to adapt to a wide range of market conditions and support founders and CEOs at every stage of their journey."

Key Takeaways

• Norwest Venture Partners raised $3B for its 17th fund, totaling $15.5B in AUM.
• The new fund will enable Norwest to invest in startups in the US, India, and Israel.
• Norwest has been investing in India since 2005 and has a portfolio of 23 active companies.
• The fundraise demonstrates investor trust in early and growth-stage startups despite market downturn.
• Norwest has made 69 new investments and helped 36 portfolio companies achieve liquidity events.