Key Takeaways
- • Norwest has closed Norwest 18 with $4 billion in capital, the largest fund in the firm's 65-year history, according to an announcement from the firm.
- • The close lifts Norwest's total capital under management to $18 billion.
- • The fund will support venture and growth equity investments across technology, healthcare and consumer sectors.
- • Norwest plans to deploy $250-350 million annually in India across manufacturing, healthcare and pharma, financial services, consumer, and new-age deep tech and AI.
- • The firm has backed more than 750 companies globally and 41 in India, including Swiggy, Amagi Media Labs and JJG Aero.
Summary
Norwest, a global multi-stage investment firm with a substantial presence in India, has raised $4 billion for its latest fund, Norwest 18, according to an announcement from the firm. The fund is the largest in Norwest's 65-year history and supports venture and growth equity investments across the technology, healthcare and consumer sectors. With the close, the firm's total capital under management stands at $18 billion.
Norwest invests across the United States, India and Israel and has backed more than 750 companies across its venture and growth equity portfolio. In India, where it has backed 41 companies, its portfolio includes food delivery firm Swiggy, SaaS company Amagi Media Labs and aerospace manufacturer JJG Aero. Globally, its holdings include BillionToOne, a precision molecular diagnostics firm, and MBX Biosciences.
The firm makes both venture and growth investments in India and plans to deploy $250-350 million annually there. Target sectors include manufacturing, healthcare and pharma, financial services, consumer, and new-age deep tech and AI. Beyond capital, Norwest says it supports portfolio companies through strategic advisory, experienced operators and programmes built for key stages of growth.
Jeff Crowe, Senior Managing Partner at Norwest, said in a media statement that building and scaling a company "has never been a linear journey," noting that companies are staying private longer, scaling across markets, and facing 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," Crowe said.
Norwest invests across the United States, India and Israel and has backed more than 750 companies across its venture and growth equity portfolio. In India, where it has backed 41 companies, its portfolio includes food delivery firm Swiggy, SaaS company Amagi Media Labs and aerospace manufacturer JJG Aero. Globally, its holdings include BillionToOne, a precision molecular diagnostics firm, and MBX Biosciences.
The firm makes both venture and growth investments in India and plans to deploy $250-350 million annually there. Target sectors include manufacturing, healthcare and pharma, financial services, consumer, and new-age deep tech and AI. Beyond capital, Norwest says it supports portfolio companies through strategic advisory, experienced operators and programmes built for key stages of growth.
Jeff Crowe, Senior Managing Partner at Norwest, said in a media statement that building and scaling a company "has never been a linear journey," noting that companies are staying private longer, scaling across markets, and facing 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," Crowe said.
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