Palo Alto-based Norwest Venture Partners closes its latest venture capital fund with $3 billion, bringing its overall assets under management to $12.5 billion.
The new fund, Norwest Venture Partners XVI, will invest in high-impact, early- to late-stage venture and growth companies in consumer, enterprise and healthcare sectors. The fund will target companies with what Norwest officials described as "transformational" businesses. Norwest aims to empower the leaders at these companies with resources and connections to enhance their growth and create sustainable value.
Norwest’s last fund closed in 2019 at $2 billion . . .
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