Norwest Venture Partners closes $3 billion NVP 17 fund

Norwest Venture Partners closes $3 billion NVP 17 fund

Highlights

  • Norwest Venture Partners closes $3 billion NVP 17 fund, bringing total capital under management to $15.5 billion.
  • Fund to be deployed across India, US, and Israel, supporting early, mid, and growth-stage companies.
  • Since NVP 16, Norwest has invested in 69 new companies globally, with 36 liquidity events.
  • Notable investments in India include Amagi Labs, Swiggy, Xpressbees Logistics, Duroflex, and Ofbusiness.
  • Investment approach spans ticket sizes from $10 million to $30 million for early to mid-stage companies, and $20 million to $100 million for growth equity investments.


Norwest Venture Partners (NVP), a prominent global venture capital and growth equity investment firm headquartered in Menlo Park, California, has recently closed its latest fund, the Norwest XVII, LP fund (NVP 17), amounting to a staggering $3 billion. This significant milestone follows the firm’s previous fund, NVP 16, raised in December 2021, bringing the total capital under management to an impressive $15.5 billion.

With investments spanning across India, the United States, and Israel, Norwest Venture Partners remains committed to supporting early, mid, and growth-stage companies in both public and private markets. Since the inception of NVP 16, Norwest has made substantial investments, backing 69 new companies globally and witnessing 36 liquidity events, including IPOs and acquisitions.

In India, Norwest has played a pivotal role in nurturing promising startups with proven business models and initial revenue traction. Notable investments include Amagi Labs, Swiggy, Xpressbees Logistics, Duroflex, and Ofbusiness. The firm’s investment approach encompasses a wide spectrum, ranging from early to mid-stage companies with ticket sizes ranging from $10 million to $30 million, to larger growth equity investments of $20 million to $100 million.

Jeff Crowe, Senior Managing Partner at Norwest, emphasized the firm’s diversified investment strategy and long-term commitment to supporting founders and CEOs throughout their entrepreneurial journey. In India, Niren Shah continues to lead Norwest’s investments as Managing Director and Head of Norwest India.

Furthermore, Norwest announced significant developments in its leadership team, with Promod Haque transitioning to the role of general partner from managing partner. Jeff Crowe and Jon Kossow will assume the responsibilities of managing general partners, underscoring the firm’s focus on seamless succession planning and leadership continuity.

The firm also welcomed new additions to its team, including Zack Scott as managing director and general partner for healthcare investments, Philip Fleischman as vice president, Mary Miller as head of business development for growth equity, and Renée Cohen as marketing operating executive, vice president. Additionally, Matthew De Dominicis was promoted to CFO and administrative partner, while Krish Kapadia and Jordan Leites were elevated to vice president positions.

Norwest Venture Partners’ latest fund closing and strategic team enhancements reflect its enduring commitment to fostering innovation and driving growth across diverse sectors, reaffirming its position as a leading player in the global venture capital landscape.

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