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Norwest closes venture fund at $2bn

Shot of a group of designers having a meeting at a coffee shop

Norwest Venture Partners has closed a growth equity fund at $2bn (€1.8bn), which invests in venture companies across the healthcare, consumer and enterprise sector.

The Norwest Venture Partners XV fund targets disruptive and market-leading companies from seed to late-stage and employs a diversification strategy.

The fund follows Norwest Venture Partners XIV, which closed in February 2018 at $1.5bn, and targets the same type of companies.

Background

Norwest is a US venture and growth equity investment firm with more than $9.5 billion in total capital commitments, and focuses regionally on North America, India and Israel.

Norwest has, among others, successfully exited Uber, a US technology company, Avetta, a US company providing supply chain risk management software and Health Catalyst, a US company providing healthcare software solutions, and has partnered with 150 active companies, the firm says.

Partnerships

“Our founders and CEOs are at the heart of everything we do,” said Jeff Crowe, managing partner at Norwest.

The company has made CEO partnerships a core driver for its business.

It offers a network of connections, operating experience, and a wide range of services to help CEOs and founders scale their businesses.

Elena Johansson

Senior Reporter

Part of the Bonhill Group.