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Our Levels of Diversification

Stage

Sector

Geography

Venture

Seed to late-stage investments in the US, India and Israel across a wide range of sectors

Growth Equity

Minority and control investments in rapidly growing, market-leading businesses

Investment Sectors

Healthcare

Enterprise
& SaaS

Cloud
& IT

Services

Internet
& Consumer

Healthcare

Enterprise
& SaaS

We invest in horizontal and vertical SaaS businesses across a wide range of sectors. Specifically, we look to partner with entrepreneurs building companies in the SaaS/cloud, mobile, infrastructure, application and communications software industries globally.

Cloud
& IT

We partner with entrepreneurs to build disruptive companies and fuel market leaders in key sectors such as big data, cloud infrastructure, enterprise systems, mobile, security, storage and virtualization.

Services

We have a strong track record of building and growing next generation services companies. We are interested in working with you to develop your communications services, financial technology and services, infrastructure services and technology enabled services businesses.

Internet
& Consumer

It takes a lot to construct a winning marketplace – building an enduring community, curating high quality product offerings, delivering a compelling consumer experience and creating outsized value for suppliers.

We partner with entrepreneurs to build innovative marketplaces and a wide variety of businesses across the Internet and consumer landscapes. Specifically, we invest in seed, early and late stage marketplaces, e-Commerce, consumer services, digital media, enabling Internet technologies, mobile, retail, educational, and social opportunities.

Global Reach

We are a global, multi-stage venture capital and growth equity investment firm. Headquartered in Silicon Valley and SF, we have subsidiaries in Israel and India.

What Entrepreneurs Are Saying

  • Promod Haque and Norwest provided exceptional support during a fairly long product gestation and initial market fit exercise during the early period of FireEye’s business evolution. They showed fortitude as an investor and believed in the eventual opportunity to defend the world from advanced cyber attacks even when there were insufficient market proof points. I am grateful for their support in helping build FireEye into the global company it is today.

    Ashar Aziz, Founder, Vice Chairman of the Board, and Chief Strategy Officer - FireEye

  • Norwest’s ability to invest against the grain in an enterprise mobility company like MobileIron speaks to the firm’s belief in its entrepreneurs and backing companies in new markets that aren’t yet obvious. MobileIron is a great example of how Norwest partners with companies to build great businesses.

    Bob Tinker, President & CEO - MobileIron

  • As we built out our sales force across the United States and grew our sales over 3000% from commercialization to IPO, Norwest’s financing and guidance was critical to our success. Their partnership was and remains key during our rapid commercial growth and scaling. We would not be where we are today without them.

    Lisa Earnhardt, President and CEO - Intersect ENT

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Northwest Growth Fund...

Northwest Growth Fund (NGF) is founded in Minneapolis, MN. NGF completed its first capital raise, a private placement of 100,000 shares at $10 a share with a $200,000 contribution from Northwest Bancorporation

NGF makes its first in...

NGF makes its first investment in EMC Corp., a Minnesota-based publishing company.

NGF raises another $1....

NGF raises another $1.3 million, giving the fledgling firm a total of $2.5 million of capital.

NGF invests $500,000 i...

NGF invests $500,000 in an ice cream company: International Dairy Queen (IDQ). IDQ became a successful publicly-traded company that would eventually allow NGF to sell its stake for an estimated $3.5 million

NGF makes an early inv...

NGF makes an early investment in National Computer Systems, an optical reader company that is now a staple in virtually all standardized tests.

Cray Research, a pione...

Cray Research, a pioneer in supercomputing, is added to the NGF portfolio.

NGF helps start Networ...

NGF helps start Network Systems Corp., a company that pioneered the development of high speed data transmission products that would be the backbone of the first high speed computer networks.

NGF raises its second...

NGF raises its second fund, Northwest Venture Partners, a $60 million offering that included a $10 million contribution from Northwest Bancorporation.

The firm transitions t...

The firm transitions to the name Norwest Venture Capital (NVC).

With the technology se...

With the technology sector suffering from a downturn in the mid-1980s, NVC turns to opportunities in the consumer sector with investments in athletic footwear company Avia and children’s clothing company Gymboree.

NVC’s East Coast pre...

NVC’s East Coast presence takes shape with investments in Bright Horizons, GelTex Pharmaceuticals, Raptor Systems and VideoServer.

George Still joins the...

George Still joins the firm and works out of its Bellevue, Washington office. Promod Haque also joins NVC as a consultant in the firm’s Minneapolis office to assist with due diligence on technology investments. NVC later hires Haque on a full-time basis in 1990.

 

The firm launches Norw...

The firm launches Norwest Equity Partners IV, LP,  a $200 million fund.

NVC is instrumental in...

NVC is instrumental in the development and consolidation of the emerging specialized mobile radio (SMR) communications business through investments in Atlantic Cellular, OneComm, and Transit Communications.

PeopleSoft, one of the...

PeopleSoft, one of the world’s first client server software companies, goes public. George Still led the firm’s investment in PeopleSoft in 1989, and Norwest was the sole venture investor. The investment helped drive the firm’s software strategy for years to come.

George Still opens Nor...

George Still opens Norwest’s Silicon Valley office – on Sand Hill Road in Menlo Park, CA.

Norwest continues its...

Norwest continues its successful software streak, with investments in, and later exits from, Documentum, Vantive, and Xylan Coporation.

Norwest completes a le...

Norwest completes a leveraged buyout of Transaction Systems Architects (TSA).  TSA goes public in 1995; Norwest would eventually realize $132 million on an investment of $8.6 million, a multiple of 15.4.

The firm launches Nor...

The firm launches Norwest Equity Partners V, LP, a $300 Million fund.

Promod Haque made his...

Promod Haque made his mark on such investments as Tivoli Systems (which went public in 1995 and was acquired by IBM in 1996) and Forte Software ( which went public in 1996 and was acquired by Sun Microsystems in 1999), generating returns of 32.0 and 23.0 times the firm’s initial investment, respectively.

George Still and Norwe...

George Still and Norwest associate, Darin Brannan, develop the initial business plan for Verio, which was incubated in the firm’s West Coast office in 1996. At the time of Verio’s IPO in May 1998 at a $1.2 billion valuation, Verio had acquired 46 ISPs and was ultimately sold in 1999 to NTT DoComo for $5.5 billion cash.

Promod Haque leads a s...

Promod Haque leads a seminal investment in Extreme Networks. Extreme was exceptionally successful, and with the help of a white-hot IPO market, delivered returns to NVC of more than $700 million, representing a multiple of 95.0 times its initial investment.

The convergence of voi...

The convergence of voice and data puts telecommunications at center stage with key NVC investments and exits. Brooks Fiber Properties goes public in 1996, and is acquired by MCI WorldCom in 1998 for $3.4 billion. Polycom results in a successful IPO in 1996. Brocade goes public in May of 1999, creating more than $313.5 million in returns for Norwest, a multiple of 46.0 times its original investment.

Norwest moves its head...

Norwest moves its headquarters to downtown Palo Alto, CA – where it remains today.

Norwest Venture Capita...

Norwest Venture Capital becomes Norwest Venture Partners (NVP), with George Still as Managing General Partner, launching Norwest Venture Partners VI (NVP VI), a $300 million fund.

Norwest raises a brand...

Norwest raises a brand new $325 million fund just one year later—Norwest Venture Partners VII (NVP VII), after a series of significant venture exits. Promod Haque transitions into a Managing General Partner role and joins Managing General Partner George Still in leading and expanding the firm.

Norwest backs Michael...

Norwest backs Michael Hatfield, co-founder and early CEO of Cerent, investing $11.8 million. Just 16 months later, Cisco Systems acquires Cerent for $7.2 billion. Cerent delivers returns of nearly $1.5 billion to Norwest, representing a multiple of 125.0 times the firm’s initial investment.

Norwest invests $3.5 m...

Norwest invests $3.5 million in Siara Systems. Kleiner Perkins and Norwest later agree to merge Siara Systems with Redback Networks, a $4.3 billion transaction that in 1999 created one of the most powerful suppliers in the communications industry. Norwest’s investment in Siara Systems resulted in a 104 times return for the firm.

Norwest makes a $7.2 m...

Norwest makes a $7.2 million investment in Broadband Access Systems, a provider of highly integrated switching, broadband access and telephony systems for cable companies and carriers. A year later, ADC Telecommunications acquires Broadband Access Systems for $2.2 billion.

Norwest raises an addi...

Norwest raises an additional $300 million fund, Norwest Venture Partners VIII (NVP VIII), just two years after its previous fund had launched.

Virtela, a virtual pri...

Virtela, a virtual private network company, is funded and co-founded by General Partner Vab Goel.

Norwest’s invest...

Norwest’s investment in Quantum Effect Devices (QED), an embedded microprocessor company, results in a successful IPO. Norwest eventually realizes $122 million on its investment of $5.2 million in QED, a multiple of 23.5.

Israel-based Accord Ne...

Israel-based Accord Networks, a voice and video company, goes public and is later sold to Polycom for $339 million.

Norwest’s consistent...

Norwest’s consistent returns over the previous decade helped the firm launch its largest fund to date in 2001—Norwest Venture Partners IX (NVP IX), a $411 million fund.

SaaS emerges as a form...

SaaS emerges as a formidable infrastructure sector with Norwest’s investments in Cast Iron Systems and AmberPoint. Both companies would ultimately be acquired by tech giants IBM and Oracle, respectively.

Norwest’s Matt H...

Norwest’s Matt Howard makes a significant investment in a wireless local area networking (“WLAN”) systems pioneer called Airespace.

Winphoria Networks, a...

Winphoria Networks, a mobile data networking company, is sold to Motorola for $179 million.

Norwest’s Vab Goel i...

Norwest’s Vab Goel incubates Austin-based KMV Technologies, which would later be called LifeSize Communications, a pioneer in videoconferencing technology.

Norwest portfolio comp...

Norwest portfolio company Spinnaker Networks, the Pittsburgh-based seller of network-attached storage servers, is acquired by Network Appliance Inc. for $300 million.

Promod Haque ranks #1...

Promod Haque ranks #1 on the 2004 Forbes Midas List as a top dealmaker.

Norwest makes its firs...

Norwest makes its first investment in India, a growth equity investment in Persistent Systems, a leading offshore product development company based in Pune. The company would later go public on the Bombay Stock Exchange and the National Stock Exchange of India.

Local area networking...

Local area networking (“WLAN”) systems provider Airespace is acquired by Cisco Systems for $450 million.

Norwest notches additi...

Norwest notches additional big exits with Arbortext, Authentica, Corio, Open-Silicon, ShoreTel, Sidestep, Skystream, Veraz Networks and Website Pros.

The firm raises Norwes...

The firm raises Norwest Venture Partners X (NVP X), a $650 million fund.

In an effort to divers...

In an effort to diversify and invest across multiple stages and sectors in India, Norwest establishes a day-to-day presence in the country via its NVP India advisory subsidiary in Mumbai, led by Niren Shah and Sohil Chand.

Norwest expands furthe...

Norwest expands further, establishing an advisory subsidiary in Herzliya, Israel, led by Dror Nahumi.

Norwest adds a second...

Norwest adds a second Indian subsidiary in Bengaluru, led by Mohan Kumar.

Norwest benefits from...

Norwest benefits from Rackspace’s successful initial public offering as the largest venture investor in the company. Rackspace is one of the largest and only technology IPOs occurring this year.

Qumranet, an enterpris...

Qumranet, an enterprise software company offering a virtual infrastructure platform, is acquired by Red Hat.

Norwest portfolio comp...

Norwest portfolio company LifeSize Communications is sold to Logitech for $405 million.

Norwest brings on Jon...

Norwest brings on Jon Kossow to focus more aggressively on growth equity opportunities and build out Norwest’s growth equity team. General Partners Jon Kossow and Sonya Brown now head up the growth equity practice at Norwest.

Norwest begins investi...

Norwest begins investing out of its largest fund to date, Norwest Venture Partners XI (NVP XI), a $1.2 billion fund.

Norwest revives its he...

Norwest revives its healthcare practice with an emphasis on growth equity and late stage venture investments. Norwest hires two partners to spearhead this practice—Dr. Ryan Harris and Casper de Clercq.

Persistent Systems has...

Persistent Systems has a successful public offering on the Bombay Stock Exchange and National Stock Exchange of India (Norwest’s first direct investment in India), and Cast Iron Systems, a SaaS/Cloud integration company is acquired by IBM.

Omneon, a leading prov...

Omneon, a leading provider of scalable media server and active storage systems, is acquired by Harmonic at a deal valued at approximately $306 million, while Jigsaw, a leading provider of business information and data services, is acquired by Salesforce.com for $142 million.

ngmoco Inc., a mobile...

ngmoco Inc., a mobile game publisher, is acquired by DeNA in November for approximately $400 million, and Playdom Inc., a leader in the online social gaming space, is acquired by The Walt Disney Company in August for approximately $764 million, a combined transaction value in excess of $1 billion.

Norwest celebrates its...

Norwest celebrates its 50th anniversary.

Online advertising com...

Online advertising company, Admeld, is acquired by Google for $400 million.

Highly integrated powe...

Highly integrated power management solutions company Summit Microelectronics is acquired by Qualcomm.

Mobile banking solutio...

Mobile banking solutions company Clairmail is acquired by Monitise.

Travel search engine c...

Travel search engine company KAYAK is acquired by Priceline for $1.8 billion.

Norwest strengthens it...

Norwest strengthens its leadership team with the promotions of Jeff Crowe and Matt Howard to Managing Partner.

Cyan, a global supplie...

Cyan, a global supplier of software defined networking (SDN) solutions, opens for trading today on the New York Stock Exchange (NYSE) under the ticker symbol “CYNI” after its initial public offering.

Israel-based storage m...

Israel-based storage management software company ScaleIO is acquired by EMC.

Norwest is the lead in...

Norwest is the lead investor in the world’s largest digital coupon destination, RetailMeNot (Nasdaq: SALE), which celebrates a successful initial public offering in July 2013.

Cyber security leader,...

Cyber security leader, FireEye (Nasdaq: FEYE), celebrates one of the most successful initial public offerings in 2013, with Norwest as an early stage investor in the company.

Fraud detection leader...

Fraud detection leader 41st Parameter is sold to Experian for $324 million.

Leading global managed...

Leading global managed and cloud-based network services company Virtela is acquired by NTT Communications for $525 million. Virtela was founded and incubated by Vab Goel, general partner, who also served as founding CEO and Chairman. Promod Haque is a founding investor, having provided the initial funding to the company.

Apple acquires low-pow...

Apple acquires low-power wireless semiconductor company Passif, Palo Alto Networks acquires cybersecurity company Morta Security, and Norwest executes the partial sale of shares of India financial services company Shriram City Union Finance Ltd (NSE: SCUF).

Personalized entertain...

Personalized entertainment discovery solutions company Veveo is acquired by Rovi.

Music intelligence pla...

Music intelligence platform company The Echo Nest is acquired by Spotify.

Wearable device techno...

Wearable device technologies company Basis is acquired by Intel.

 

Forbes names Promod Ha...

Forbes names Promod Haque a “hall of fame investor” and Norwest is ranked #6 as a firm with the most exits over $200M in 2013.

Leading technology pro...

Leading technology provider to the global travel and tourism industry Sabre Corporation (Nasdaq: SABR), celebrates its initial public offering.

Norwest announces Norw...

Norwest announces Norwest Venture Partners XII, LP, a $1.2B fund targeting early to late stage venture and growth equity investments, bringing the firm’s total capital and commitments to approximately $5 billion.

High definition satell...

High definition satellite imagery company Skybox Imaging is acquired by Google for $500 million.

...

MobileIron (Nasdaq: MOBL), the leader in mobile enterprise security, celebrates its initial public offering.

Hadoop-based adaptive...

Hadoop-based adaptive analytical platform company Hadapt is acquired by Teradata.

...

Intersect ENT, Inc.(Nasdaq:XENT), a commercial drug-device company committed to improving the quality of life for patients with ear, nose and throat conditions, celebrates its initial public offering.

Snowman Logistics Limi...

Snowman Logistics Limited, an integrated temperature controlled logistics service provider in India, goes public on the Bombay Stock Exchange and the National Stock Exchange of India.

...

Perseverance pays off. Seed investment in Lending Club (NYSE: LC), the world’s largest online marketplace connecting borrowers and investors, translates to one of the top IPOs of 2014.

Norwest celebrates a...

Norwest celebrates a landmark year with 11 notable liquidity events, resulting in a combined transaction value of over $15 billion.

...

true[X] media, a leading video advertising company that specializes in consumer engagement and on-demand marketing campaigns, is acquired by 21st Century Fox.

AdChina, China’s...

AdChina, China’s largest independent digital advertising technology platform whose services and products are used by hundreds of digital marketing agencies, advertisers and companies, is acquired by Alibaba Group Holding Ltd (NYSE: BABA).

...

SolarEdge Technologies, Inc. (“SolarEdge”) (Nasdaq: SEDG), a global leader in PV inverters, power optimizers, and module-level monitoring services, celebrates its initial public offering.

Uber acquires...

Uber acquires deCarta, the leading independent location-based services (LBS) platform company,

...

Apigee® (Nasdaq: APIC), developer of an intelligent API platform for digital business, celebrates its initial public offering.

Cyan Inc. (NYSE: CYNI)...

Cyan Inc. (NYSE: CYNI), a leading provider of SDN, NFV, and packet-optical solutions for network operators, is acquired by Ciena (NYSE: CIEN).

HP acquires ...

HP acquires ConteXtream, a provider of OpenDaylight-based, carrier-grade SDN fabric for NFV.

Big data discovery lea...

Big data discovery leader 1010data is acquired by Advance for $500 million.

...

The Retail Equation, a leader in predictive analytics for retail businesses, is acquired by Appriss to strengthen efforts in fighting fraud and mitigating risk.

Software-defined video...

Software-defined video processing solutions leader Elemental Technologies is acquired by Amazon Web Services for $296 million.

...

Misfit Wearables, an inventor and manufacturer of premium wearable computing products, is acquired by Fossil Group for $260 million.

Pertino, a pioneer in...

Pertino, a pioneer in cloud-based networking for enterprises, is acquired by Cradlepoint, a leader in software-defined 4G LTE network solutions.

Norwest announces...

Norwest announces Norwest Venture Partners XIII, LP, its third consecutive $1.2B fund. Bringing the firm’s total capital to approximately $6 billion, the latest fund will allow Norwest to continue its pursuit of next generation early to late stage venture and growth equity investments across a wide range of sectors and geographies.

Cloud Infrastructure-a...

Cloud Infrastructure-as-a-Service (IaaS) company Ravello Systems is acquired by Oracle, joining in Oracle’s IaaS mission to allow customers to run any type of workload in the cloud.

Clarus Commerce, a pio...

Clarus Commerce, a pioneer of pre-paid shipping and the cashback movement, is acquired by Trivergance to further scale the platform.

Oracle announced that...

Oracle announced that it signed an agreement to acquire Palerra, extending Oracle Identity Cloud Service with an innovative Cloud Access Security Broker (CASB). Together, Oracle and Palerra will help accelerate cloud adoption securely by providing comprehensive identity and security cloud services.

Apigee, a provider of...

Apigee, a provider of API management, entered into a definitive agreement to be acquired by Google. By adding Apigee’s solutions to Google cloud, Google customers will accelerate the transition toward cloud, mobile and digital interaction with customers and partners via APIs.

Wal-Mart Stores, Inc....

Wal-Mart Stores, Inc. and Jet.com, Inc. announced they have entered into a definitive agreement for Walmart to acquire Jet for approximately $3 billion in cash. The deal positions Walmart for expanded e-commerce growth and customer reach.

...

iRhythm (Nasdaq: IRTC), a leading digital health care company redefining the way cardiac arrhythmias are clinically diagnosed, celebrates its initial public offering.

...

Crossover Health, a next generation provider of employee healthcare that develops on-site and near-site health centers, announced its acquisition by Gurnet Point Capital. The partnership will fuel the expansion of Crossover’s interactive, technology-enabled platform.

Leading fashion access...

Leading fashion accessories brand Kendra Scott Design is recapitalized by Berkshire Partners.

StorageCraft announces...

StorageCraft announces that it will acquire Exablox, provider of a cloud-managed, scale-out, object-based storage solution. The acquisition will allow StorageCraft to address customers’ expanding data volumes and stringent uptime requirements.

Amobee, a subsidiary o...

Amobee, a subsidiary of Singtel, announces its acquisition of Turn, a leading provider of a global technology platform for marketers and agencies. The acquisition will allow Amobee to offer marketers an independent, end-to-end advertising and data management platform across all channels, formats and devices.

...

RetailMeNot, a leading savings destination connecting consumers with retailers, restaurants and brands, both online and in-store is acquired by Harland Clarke.

...

Capsugel, a world leader in advanced oral dosage delivery technologies with a leading position in hard capsules, is acquired by Lonza.

Symantec...

Symantec acquires Israel-based Fireglass, the leading agentless isolation solution that eliminates ransomware, malware and phishing threats in real-time.

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