Norwest Venture Partners announces closure of $3 bn fund NVP XVI

Total capital under management at $12.5 bn; last fund NVP XV was raised in 2019 with a corpus of $2 bn

Norwest Venture Partners, a global venture capital and growth equity investment firm, announced that it has closed NVP XVI, a $3 billion venture and growth equity fund, bringing its total capital under management to $12.5 billion. This is also its largest fund raise.

Norwest Venture Partners India has been an early believer in the India story. Some of its investments in India include Cholamandalam Finance, IndusInd Bank, Duroflex, Kotak Mahindra Bank, Mensa, SK Finance, XpressBee, NSE, Pepperfry, Quikr, Thyrocare, Swiggy and RBL Bank.

While India does not have a dedicated fund allocated as Norwest has a one global fund approach