Funding story
International venture capital and growth equity investment firm Norwest Venture Partners launched a new fund, Norwest Venture Partners XIII, with an amount of $1.2 billion. The same amount had been raised by the firm in 2014, as well as in 2010. Thus, Norwest’s total funding tops $6 billion.
About Norwest’s services
The raised funding is expected to be used for investment in Indian and Israeli startups. Norwest’s journey began more than 55 years ago. A significant aspect of the global venture capital firm is its commitment on long-term investment : something which sets it apart from other venture capital firms, who invest only in the preliminary stages. The firm is led by Robert C.Arditi, Robert Abbott and Katie Belding. Arjun Balan leads its Indian wing, which also includes the the likes of Niren Shah, Ashutosh Sharma, Dushyanth Nataraj, Rama Shekhar and Mohan Kumar. Currently, the firm invests in Indian, Israeli and American startups. By not breaking its funding up into separate groups and going in for long-term commitments, the firm has succeeded in giving a fillip to innumerable startups dealing with healthcare, consumer Web, infrastructure and many other segments. Norwest offers more than just money to budding entrepreneurs : the startup provides networking support, strategic aid, and general advice. The firm’s long history of success guarantees success for the ventures which it incubates.
About Norwest’s beneficiaries
A number of startups, of diverse origins and aims, have received funding and support from Norwest. These include the likes of Jet, Lumosity, Modcloth, Spotify, Uber and Udemy. The fund has also categorically refused to specify the nature of companies which it intends to invest in, thus enabling a wide variety of enterprises to avail of their expertise and acumen.
For more info, visit the firm’s website.
