Norwest Venture Partners announces closure of its largest $2-billion fund

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Published: November 16, 2019 5:48:06 AM

“The launch of Norwest Venture Partners XV, which brings the firm’s total capital commitments to more than $9.5 billion, closes on the heels of a record two years, as 23 of the firm’s portfolio companies achieved notable liquidity events,” the firm said.

Norwest Venture, Norwest Venture Partners, indutry news, Appnomic, Capillary, CRMNext, ElasticRun, Manthan, Zenoti, Partners XVThe latest fund follows Norwest Venture Partners XIV, a .5 billion fund, which closed in February 2018.

Venture and growth equity investment firm Norwest Venture Partners has announced the closure of its largest fund to date, known as the Norwest Venture Partners XV. The $2 billion fund targets disruptive and market-leading companies from seed to late-stage across consumer, enterprise and healthcare sectors, Norwest said in a statement on its website.

“The launch of Norwest Venture Partners XV, which brings the firm’s total capital commitments to more than $9.5 billion, closes on the heels of a record two years, as 23 of the firm’s portfolio companies achieved notable liquidity events,” the firm said.

The latest fund follows Norwest Venture Partners XIV, a $1.5 billion fund, which closed in February 2018. “Since then, Norwest has made nearly 50 new investments across a range of stages and industries, as well as hired and promoted several investment partners,” the firm said in a statement.

Over the last 24 months, the firm saw nearly 50 new investments, 23 initial public offerings and portfolio company acquisitions across its investment sectors. Some of its India exits include Appnomic, Capillary, CRMNext, ElasticRun, Manthan and Zenoti.

Since its inception, the firm has invested in more than 600 companies and partnered with over 150 active companies currently in its venture and growth equity portfolio. The firm invests in early to late-stage companies across a wide range of sectors with a focus on consumer, enterprise, and healthcare.

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