BENGALURU: Norwest Venture Partners has closed a $3 billion fund, Norwest Venture Partners XVI, which brings the firm’s total capital under management to $12.5 billion The US investment company said in a statement on Tuesday that it 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." Some of its big investments in India include Swiggy, Mensa, Pepperfry, Quikr, Thyrocare, S K Finance, Amagi, Xpressbees Logistics, and Duroflex.
Norwest has been investing in India over the last 15 years. “The average ticket size in India continues to grow, and we will continue to do late-stage venture and growth equity investments. In addition, we have also started focusing on early to mid-stage investments in India,” said Niren Shah, managing director, and the head of Norwest India.
Since its last $2 billion fund closed in November 2019, Norwest has made new investments in more than 60 companies. Prior to that, in 2018, it raised Norwest Venture Partners XIV, LP, a $1.5 billion fund.
