US-based private equity firm Norwest Venture Partners (NVP) today said it has raised $1.2 billion to invest in domestic and international companies across sectors.
NVP has achieved closure for its fund Norwest Venture Partners XI, LP. The $1.2 billion fund will target early to late stage venture and growth equity investments across a wide range of sector, the PE firm said in a statement.
"The closing of NVP XI will enable us to further expand our growth by stage, region and sector. NVP is dedicated to both domestic and international investments," NVP Managing Partner Promod Haque said.
With the fund closure, the total corpus of the PE firm now stands at over $3.7 billion, the statement added.
NVP has hired five investment professionals to focus on venture and growth equity investments in India, it said.
"We believe now is a great time to invest and we see significant opportunities – particularly in growth equity and in emerging markets such as India and China," he said.
Earlier this year, NVP had acquired a little over 2 per cent stake in the country's prime bourse National Stock Exchange for about Rs 252 crore.
The firm has offices in Palo Alto and California in US and in Israel, besides Mumbai and Bangalore in India. The PE firm has investments in companies across sectors including IT, financial services and infrastructure.
