CA based Venture Capital firm, on Monday, announced the launch of its new fund, Norwest Venture Partners XII, LP. The $1.2 billion fund will target early to late stage venture and growth equity investments. It brings the total capital and commitments for Norwest Venture Partner (NVP) to approximately $5 billion.
NVP XII follows the firm’s NVP XI, a $1.2 billion fund which the partnership began investing in 2010. With this, the VC firm will be seeking investment in sectors such as enterprise IT, consumer Internet, healthcare, consumer products and services sectors. Also, the firm plans to grow its presence in thriving entrepreneurial hubs.
“A key strategy for success at NVP is investment diversification. We invest across multiple sectors, stages and geographies, all with a team approach that enables our portfolio companies to tap into the breadth and depth of our expertise,” said Promod Haque, senior managing partner at Norwest Venture Partners.
NVP has invested in nearly 550 companies since inception, and currently has over 120 active companies across its venture and growth equity portfolio. It works with companies of all sizes and at all stages of investment from seed and Series A to late stage venture and growth equity.
The company has taken significant exits from ventures such as TheEchoNest (acquired by Spotify), Basis (buyout by Intel), Veveo (acquired by Rovi), among many others.
The Indian portfolio of NVP currently comprises of 28 companies including ecommerce brands such as Yatra, Quikr, Pepperfry, Deals&You, Fashion&You, etc.
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