Norwest, a global multi-stage investment firm with a substantial presence in India, has raised $4 billion for its latest fund to support venture and growth equity investments across the technology, healthcare and consumer sectors, per an announcement.
With the close of Norwest 18, the firm’s total capital under management stands at $18 billion. The fund is the largest in Norwest’s 65-year history.
Norwest invests across the US, India and Israel and has backed more than 750 companies across its venture and growth equity portfolio so far.
In India, it counts food delivery firm Swiggy, SaaS company Amagi Media Labs and aerospace manufacturer JJG Aero among its portfolio. In total, it has backed 41 companies in the country. Globally, it has investments in BillionToOne, a precision molecular diagnostics firm; and MBX Biosciences, among others.
“Building and scaling a company has never been a linear journey, and today that journey is becoming more complex,” Jeff Crowe, Senior Managing Partner at Norwest, said in a media statement.
“Companies are staying private longer, scaling across markets, and navigating critical decisions around technology, talent, and growth, he added.
Norwest makes both venture and growth investments in India and plans to deploy capital in the range of $250-350 million annually with a focus on sectors such as manufacturing; healthcare and pharma; financial services; and consumer, besides new age deep tech and AI.
Beyond capital, Norwest supports its portfolio through strategic advisory, experienced operators, and programmes built for key stages of 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 Crowe.
