New Delhi, Nov. 12 -- Global multi-stage and multi-strategy investment firm Norwest Venture Partners said Thursday it has raised $4 billion for its latest global fund.
The latest fund, Norwest 18, takes the firm's total capital under management to $18 billion. The fund will support venture and growth equity investments across technology, healthcare, and consumer sectors in the US, India, and Israel, Norwest said in a statement.
In an interaction with VCCircle, Niren Shah, managing director and head of Norwest India, said the firm typically deploys $250-300 million in the country every year. "We can take this corpus a bit higher given that we have a bigger global corpus to deploy. Sector-wise, we will focus on industrials and healthcare, besides our mainstay of technology, consumer, BFSI (banking, financial services and insurance) and fintech," he said.
Over the last year, Norwest has made its first few investments in the industrials sector in India, focusing on aerospace, automotive components and precision manufacturing, through companies such as Padmini VNA, JJG Aerospace and Raghu Vamsi Aerospace Group. It is also exploring opportunities to expand into pharmaceuticals, chemicals, renewable energy and deep-tech in the country.
Shah said that the firm will also focus on growth equity investments as well as on platform and buyout deals with larger ticket sizes along with venture capital allocation.
Norwest's India portfolio includes many BFSI and fintech companies including APAC Financial, Finova Capital, Fibe, Oxyzo, Ummeed Housing, Veritas Finance, and Vastu Housing Finance. Its local portfolio also includes Duroflex, OfBusiness, Swiggy, Infinx, Amagi Media, and Citymall.
Globally, the firm claims to have made more than 87 investments and worked with over 30 portfolio companies to achieve liquidity events since the launch of the Norwest 17 fund in April 2024. These include initial public offerings from Amagi Media, BillionToOne, MBX Biosciences, Omada Health, and Swiggy, among others.
"Companies are staying private longer, scaling across markets, and navigating critical decisions around technology, talent, and growth. Capital is only one part of what they need. Our role is to be a long-term partner and bring the experience, networks, and resources that can help leadership teams make those decisions with confidence," said Jeff Crowe, senior managing partner, Norwest.
The firm said that, as AI creates new categories and reshapes established industries, it is seeing opportunities emerge across core sectors of technology, healthcare, and consumer, and that it is continuing to expand into areas such as next-generation financial infrastructure, physical and voice AI, agentic cybersecurity, technology-enabled industrial and aerospace, and healthcare AI.
"Markets and technology change, but what has remained consistent at Norwest is our ability to identify strong businesses, invest patiently, and stay closely aligned with the founders, CEOs, and leadership teams we partner with," said Jon Kossow, managing partner, Norwest.
Since 1961, Norwest has invested in more than 750 companies and currently partners with more than 275 companies across its venture and growth equity portfolio. The firm invests in early- to late-stage businesses across key sectors with a focus on technology, healthcare, and consumer. Its recent investments across the globe include Beltic, Rain, Stablecore, Coval, Generalist AI, LlamaIndex Above Security, ORION Security, Red Access, Zenity East Range Group, Matchpoint Therapeutics, Rezo Therapeutics, Tokaido Health, and Vitalize Care.
Published by HT Digital Content Services with permission from VC Circle.