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Venture Capital Firm Norwest Venture Partners Closes $1.2 Bn For Its XIII Fund

Venture Capital Firm Norwest Venture Partners Closes $1.2 Bn For Its XIII Fund

Global venture capital and growth equity investment firm, Norwest Venture Partners, has raised $1.2 Bn for its XIII fund, targeted to support its sector and stage independent investment strategy. With this fund, the firm now has a total capital and commitment size of more than $6 Bn.

Promod Haque, senior managing partner at Norwest Venture Partners said, “With the new fund we’ll be able to reach even more entrepreneurs and help them on their paths to building great companies that last.” In the past, it has made investments in the healthcare, consumer Web, infrastructure and enterprise spaces.

The firm’s exit success has continued across the portfolio in the last 18 months, including seven public offerings in the U.S., India and Israel, as well as 15 acquisitions. Besides, Norwest also expanded its portfolio services advisory resources to support its growing network of companies in the areas of talent and retention, human resources advisory, business development, marketing and operations, including domestic and international tax counsel.

Currently, the firm has invested in more than 575 companies and has over 130 active companies across its venture and growth equity portfolio. Few of its current investments in India include Cholamandalam Finance, Indusind Bank, Manthan, NSE, Quikr, Swiggy, Thyrocare and Yatra.

“Norwest has a long track record of working with the most innovative companies across geographies, sectors and stages, and our new fund helps us continue this tradition. As a firm, entrepreneurs have relied on our team for decades not only as business partners, but for expertise across every part of their business,” said Promod Haque.

He further added that the company aims to partner with the next set of talented entrepreneurs to help them bring new technologies, products and services to life, as they are in the midst of an extraordinary time in innovation across sectors.

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