14 November 2019, India:
Venture and growth equity investment firm Norwest Venture Partners has closed its largest fund to date, Norwest Venture Partners XV, LP. The new $2 billion fund targets disruptive and market-leading companies from seed to late-stage across consumer, enterprise and healthcare sectors.
Over the past 18 months, Norwest has invested in promoting and hiring key partners. On the growth equity team, Rob Arditi was promoted to general partner. On the venture consumer team, Ed Yip and Lisa Wu were promoted to partner.
Jon Kossow, Managing Partner, Norwest, said, “We have had many high profile exits in the last two years. As our portfolio continues to grow and deliver strong returns, we are looking forward to partnering with the next group of founders who will change the status quo in consumer, healthcare, and technology.”
Jeff Crowe, Managing Partner at Norwest, said, “Our founders and CEOs are at the heart of everything we do. To us, that means not only investing capital, but also time and resources to help our leaders and their organizations grow. We’re proud of the founder community we’ve built at Norwest and look forward to partnering with strong innovators for years to come.”
Promod Haque, senior managing partner at Norwest, said, “We’re proud of the strong investment team we’ve built. From our leadership in the health technology space where we continue to deliver strong returns, to our growing portfolio of consumer enthusiast brands and enterprise companies, we are evolving with the market and have bright new talent to help our entrepreneurs lead their industries.”
Norwest Venture Partners XV follows Norwest Venture Partners XIV, a $1.5 billion fund, which closed in February 2018.
(Source – Norwest Venture Partners)