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Norwest Venture Partners closes USD1.5bn NVP XIV fund

Norwest Venture Partners has closed its largest fund to date, Norwest Venture Partners XIV. The new USD1.5 billion fund targets disruptive and market-leading companies from seed to late-stage across consumer, enterprise and healthcare sectors.

The launch of Norwest Venture Partners XIV, which brings the firm’s total capital commitments to more than USD7.5 billion, closes on the heels of a record two years, as 30 of the firm’s portfolio companies achieved notable liquidity events.
Norwest Venture Partners XIV follows Norwest Venture Partners XIII, a USD1.2 billion fund, which closed in January 2016. Since then, Norwest has made 80 new and follow-on investments across diverse stages and sectors, hired and promoted key partners, expanded its footprint in San Francisco, and enhanced its portfolio services platform to support the firm’s growing network of companies.
Nine years ago, Norwest added a growth equity practice to complement its existing venture team and hired Jon Kossow to lead and build out the growth equity investment team and portfolio. Both venture capital and growth equity are now significant contributors to Norwest’s notable gains over the last several years.
“In the mid-2000s, we deployed a strategy of diversification and that strategy has worked very well for us,” says Promod Haque, senior managing partner at Norwest Venture Partners. “To keep pace with the strong growth of the firm, we have promoted Jon Kossow from general partner to managing partner.”

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