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
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
In his session at 21st Cloud Expo, Michael Burley, a Senior Business Development Executive in IT Services at NetApp, will describe how NetApp designed a three-year program of work to migrate 25PB of a major telco's enterprise data to a new STaaS platform, and then secured a long-term contract to manage and operate the platform. This significant program blended the best of NetApp’s solutions and services capabilities to enable this telco’s successful adoption of private cloud storage and launchi...
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo Silicon Valley which will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is at the intersection of technology and business-optimizing tools, organizations and processes to bring measurable improvements in productivity and profitability," said Aruna Ravichandran, vice president, DevOps product and solutions marketing...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Amazon is pursuing new markets and disrupting industries at an incredible pace. Almost every industry seems to be in its crosshairs. Companies and industries that once thought they were safe are now worried about being “Amazoned.”. The new watch word should be “Be afraid. Be very afraid.” In his session 21st Cloud Expo, Chris Kocher, a co-founder of Grey Heron, will address questions such as: What new areas is Amazon disrupting? How are they doing this? Where are they likely to go? What are th...
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, will lead you through the exciting evolution of the cloud. He'll look at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering ...
In the fast-paced advances and popularity in cloud technology, one of the most critical factors revolves around concerns for security of your critical data. How to assure both your company and your customers they can confidently trust and utilize your cloud environment is most often top on the list. There is a method to evaluating and providing security that exceeds conventional modes of protecting data both within the cloud as well externally on mobile and other devices. With the public failure...
Digital transformation is changing the face of business. The IDC predicts that enterprises will commit to a massive new scale of digital transformation, to stake out leadership positions in the "digital transformation economy." Accordingly, attendees at the upcoming Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA, Oct 31-Nov 2, will find fresh new content in a new track called Enterprise Cloud & Digital Transformation.