Welcome!

News Feed Item

Norwest Venture Partners Closes $1.2 Billion Fund

NVP XII Builds on Record Year of Success as NVP Continues to Fuel Technology Innovation Across Sectors, Stages, and Geographies

PALO ALTO, CA -- (Marketwired) -- 05/13/14 -- Norwest Venture Partners (NVP), a global, multi-stage venture and growth equity investment firm, today announced the formation of its latest fund, Norwest Venture Partners XII, LP. The $1.2B fund targets early to late stage venture and growth equity investments across a wide range of sectors. The new fund, which brings NVP's total capital and commitments to approximately $5 billion, closes on the heels of a record year for NVP as more than 11 of the firm's portfolio companies experienced liquidity events in 2013.

NVP XII follows the firm's NVP XI, a $1.2 billion fund which the partnership began investing in 2010. Over the course of NVP XI, the firm celebrated its 50th anniversary, strengthened its leadership team with key managing partner appointments, announced its healthcare practice, added more than 40 investment, services and operations professionals to its staff and promoted 11 investment and portfolio services executives to partners/general partners. NVP has invested in nearly 550 companies since inception, and currently has over 120 active companies across its venture and growth equity portfolio.

"A key strategy for success at NVP is investment diversification. We invest across multiple sectors, stages and geographies, all with a team approach that enables our portfolio companies to tap into the breadth and depth of our expertise," said Promod Haque, senior managing partner at Norwest Venture Partners. "The closing of NVP XII will enable us to expand our focus in the enterprise IT, consumer Internet, healthcare, consumer products and services sectors and grow our presence in thriving entrepreneurial hubs. We look forward to working closely with passionate and talented entrepreneurs to build the next wave of successful companies."

NVP's 2013 exit success across its portfolio included significant initial public offerings and merger and acquisition activity. Of note, NVP was an early-stage investor in cyber security leader, FireEye (NASDAQ: FEYE), which celebrated one of the most successful initial public offerings in 2013. NVP was also a lead investor in the world's largest digital coupon destination, RetailMeNot (NASDAQ: SALE), which celebrated a successful initial public offering in July 2013. Other liquidity events last year included the acquisition of leading global managed and cloud-based network services company Virtela by NTT Communications for $525 million, the sale of fraud detection leader 41st Parameter to Experian for $324 million and the acquisition of storage management software company ScaleIO by EMC. The firm also witnessed the sale of low-power wireless semiconductor company Passif to Apple, the acquisition of cybersecurity company Morta Security by Palo Alto Networks, and the partial sale of NVP shares of India financial services company Shriram City Union Finance Ltd (NSE: SCUF).

NVP's liquidity momentum has continued in 2014 with the acquisition of music intelligence platform company The Echo Nest by Spotify, the initial public offering of leading technology provider to the global travel and tourism industry Sabre Corporation (NASDAQ: SABR), the sale of wearable device technologies company Basis to Intel, and the acquisition of personalized entertainment discovery solutions company Veveo by Rovi.

Active companies in NVP's portfolio span a wide variety of sectors and stages including such innovators as Adaptive Insights, Apigee, BlueJeans Network, CareCloud, Clarus Marketing Group, Gilt Groupe, Health Catalyst, Intersect ENT, Lending Club, Lumosity, MobileIron, Skybox Imaging, Spotify, Turn and Yatra.

In addition to growing its investment staff across various stages and sectors, NVP has expanded its internal portfolio services resources to further support its companies in the areas of marketing, business development, recruiting, human resources, domestic and international tax counsel and more.

"Because we invest out of one global fund, NVP partners are committed to each investment in the portfolio, regardless of the location or stage, and they all have a vested interest in making every NVP company successful," said Jeff Crowe, managing partner, NVP. "Furthermore, our ongoing commitment to serving as a value added business partner to our entrepreneurs has always been an important part of NVP's culture. Continuing to invest in our portfolio services team is a significant part of our strategy, and we'll continue to grow our staff in marketing, recruiting, HR, finance and other key areas to help our portfolio companies grow and thrive."

"We are experiencing another significant technology shift in the industry and it's an exciting time to be an investor," said Matthew Howard, managing partner, NVP. "The growing significance of such technologies as cloud, mobility, marketplaces and healthcare IT continue to create new venture and growth equity opportunities in an extremely promising investment climate. We are more excited than ever to continue partnering with leading entrepreneurs to build great businesses, and it's our philosophy to add value and fuel the growth of these companies in every way possible."

NVP Snapshot

  • Sectors: NVP invests in companies across a wide range of sectors including: technology (cloud & IT infrastructure, Internet & consumer, SaaS), business services, financial services, consumer products/services, and healthcare.
  • Stages: NVP works with companies of all sizes and at all stages of investment from seed and Series A to late stage venture and growth equity.
  • Geographies: NVP is a global venture and growth equity firm headquartered in Palo Alto, California, with subsidiaries in Mumbai and Bengaluru, India, and Herzelia, Israel.

About Norwest Venture Partners
Norwest Venture Partners (NVP) is a global, multi-stage venture and growth equity investment firm that has partnered with entrepreneurs to build great businesses for more than 50 years. The firm manages approximately $5 billion in capital and has funded more than 550 companies since inception. Headquartered in Palo Alto, Calif., NVP has subsidiaries in Mumbai and Bengaluru, India, and Herzelia, Israel. NVP makes early to late-stage venture and growth equity investments across a wide range of sectors including: technology, information services, business services, financial services, consumer products/services and healthcare. For more information visit: www.nvp.com. Follow NVP on Twitter @NorwestVP.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Storpool does only block-level storage so we do one thing extremely well. The growth in data is what drives the move to software-defined technologies in general and software-defined storage," explained Boyan Ivanov, CEO and co-founder at StorPool, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Sometimes I write a blog just to formulate and organize a point of view, and I think it’s time that I pull together the bounty of excellent information about Machine Learning. This is a topic with which business leaders must become comfortable, especially tomorrow’s business leaders (tip for my next semester University of San Francisco business students!). Machine learning is a key capability that will help organizations drive optimization and monetization opportunities, and there have been some...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Is advanced scheduling in Kubernetes achievable?Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, answered these questions and demonstrated techniques for implementing advanced scheduling. For example, using spot instances and co...
The use of containers by developers -- and now increasingly IT operators -- has grown from infatuation to deep and abiding love. But as with any long-term affair, the honeymoon soon leads to needing to live well together ... and maybe even getting some relationship help along the way. And so it goes with container orchestration and automation solutions, which are rapidly emerging as the means to maintain the bliss between rapid container adoption and broad container use among multiple cloud host...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
The need for greater agility and scalability necessitated the digital transformation in the form of following equation: monolithic to microservices to serverless architecture (FaaS). To keep up with the cut-throat competition, the organisations need to update their technology stack to make software development their differentiating factor. Thus microservices architecture emerged as a potential method to provide development teams with greater flexibility and other advantages, such as the abili...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...