Norwest Venture Partners, a global venture and growth equity investment firm, closed Norwest Venture Partners XV, LP, its largest fund to date, at $2 billion.
The fund – which brings the firm’s total capital commitments to more than $9.5 billion – targets companies from seed to late-stage across consumer, enterprise and healthcare sectors.
Norwest Venture Partners XV follows Norwest Venture Partners XIV, a $1.5 billion fund, which closed in February 2018.
Since then, the firm has made nearly 50 new investments across a range of stages and consumer, healthcare and enterprise sectors in North America, India, and Israel, has seen 23 initial public offerings and portfolio company acquisitions across the firm’s investment sectors, including: PCA Skin, Spotify, The Learning Experience, Turnitin, Uber, River Systems, Adaptive Insights, Avetta, Cority, Glint, Mist Systems, TRUSTID, Velostrata, Health Catalyst, Silk Road Medical, Appnomic, Capillary, CRMNext, ElasticRun, Manthan, and Zenoti.
The firm has managed more than $9.5 billion in capital since inception. It has offices in Palo Alto and San Francisco, with subsidiaries in India and Israel.