Norwest Venture Partners, a Palo Alto and San Francisco, CA-based venture capital and growth equity investment firm, closed a $3 billion fund, Norwest Venture Partners XVI, LP.
The new fund, which brings the firm’s total capital under management to $12.5 billion, will target innovative companies with transformational businesses, empowering its portfolio leaders with the resources and connections to enhance their growth and create sustainable value. Norwest will continue to employ a multi-stage, multi-sector approach to investing in leadership teams capable of building paradigm-shifting businesses across consumer, enterprise and healthcare sectors. The fund invests globally, with offices in North America, India and Israel.
Sonya Brown, general partner, Norwest has invested in more than 650 companies and currently partners with more than 200 companies in its venture and growth equity portfolio. The firm has a long track record of working with visionary founders and CEOs – from companies such as Dave, Gong, Ritual, Swiggy, Udemy and Vuori.
The firm also announced several key hires and promotions, including:
- Tiba Aynechi, who will join as a general partner on the healthcare team in January 2022, following 11 years at Novo Holdings A/S, where she focused on early- and mid-stage biotechnology, medtech and healthcare IT. Some of her notable investments include MDLIVE, Mirum Pharmaceuticals and Nkarta Therapeutics.
- Dave Zilberman, who joined the firm as the newest general partner on the enterprise team in 2020. Prior to Norwest, Zilberman was managing director at Comcast Ventures, where he made notable investments in DocuSign, EdgeConneX and Slack.
Additionally, several senior leaders have been promoted within the firm:
- Parker Barrile and Dror Nahumi each have been named co-sector heads of the consumer and enterprise teams, respectively.
- Stew Campbell and Ran Ding have been promoted to partners on the growth equity team.
- Ryan McDonald was promoted to principal on the healthcare team.
FinSMEs
27/12/2021