TLDR:
- Norwest Venture Partners announces the close of their 17th fund at USD 3 billion.
- The new fund aims to support investments in enterprise, consumer, and healthcare sectors.
Norwest Venture Partners, a global venture capital and growth equity investment firm, has closed a USD 3 billion fund, NVP XVII, LP (NVP 17). The new fund is set to support multi-stage investments across various sectors, including enterprise, consumer, and healthcare. Norwest will invest between USD 10 million and USD 30 million in early- to mid-stage businesses with strong business plans and revenue traction. The firm has a track record of supporting companies like Amagi Labs, Swiggy, and Duroflex in India.
With the closing of NVP 17, Norwest’s total capital under management now stands at USD 15.5 billion. The firm’s diverse investment strategy and long-term commitment have allowed it to adapt to various market conditions and support founders and CEOs at every stage of their journey.
Founded in 1961, Norwest expanded beyond the North American market in 2005, investing in Israel and India. The firm’s venture and growth equity portfolio includes over 230 companies, such as Vuori, Gong, and Monogram Health. Norwest has a global presence with headquarters in Menlo Park, Calif., and offices in San Francisco, Mumbai, and Tel Aviv.
Since the closing of NVP 16 in December 2021, Norwest has made 69 new investments and worked closely with 36 portfolio companies. The firm has also expanded its healthcare practice by adding biotech to its existing areas of investment. Ventures like Cytovale, Diana Health, and SetPoint Medical are among the recent healthcare companies in which Norwest has made investments.
