We’re thrilled to announce the closing of NVP XV, a $2B fund and our largest to date. The new fund brings the firm’s total capital commitments to more than $9.5B and will help us support disruptive and market-leading companies from seed to late-stage across consumer, enterprise technology, and healthcare sectors.
Today we’re not only celebrating the announcement of NVP XV, but we’re also celebrating nearly six decades of backing sharp, visionary founders who’ve built extraordinary teams and businesses that scale in rapidly evolving markets. Since the firm’s inception, we’ve funded more than 600 companies that have transformed and defined many industries.
It’s been a record two years for Norwest and our team. Since we closed NVP XIV, a $1.5 billion fund, in February 2018, we’ve made nearly 50 new investments across a range of stages and industries, and saw 23 initial public offerings and portfolio company acquisitions across the firm’s investment sectors, including companies such as:
- Consumer Exits – PCA Skin, Spotify, The Learning Experience, Turnitin, Uber
- Enterprise Exits – 6 River Systems, Adaptive Insights, Avetta, Cority, Glint, Mist Systems, TRUSTID, Velostrata
- Healthcare Exits – Health Catalyst, Silk Road Medical
- India Exits – Appnomic, Capillary, CRMNext, ElasticRun, Manthan, Zenoti
Partnering with Visionary CEOs and Founders
Norwest understands that it takes a strong founder to build a successful company. Our partnerships with CEOs are the cornerstone of our success. While we’ve partnered with hundreds of founders and CEOs, our guiding principle remains the same. We believe it takes an essential combination of patience, courage, empathy, and conviction to help CEOs build great companies.
Today and every day, we’re grateful to partner with world-leading entrepreneurs that are pioneering new innovations at companies across consumer, enterprise, healthcare and fintech industries. We’re committed to our CEOs and founders and have been fortunate to partner with the visionaries behind leading companies such as Jet.com, Lending Club, Kendra Scott, Avetta, Shape Security, FireEye, iRhythm Technologies, Intersect ENT and many others over the years.
As we embark on our fifteenth fund and reflect on how far we’ve come, we’re also looking ahead at what 2020 will bring for our investment sectors.
In the consumer sector we’re going to continue to partner with the most influential enthusiast brands that are changing the cultural landscape. We’re also continuing to back companies that bring the right skills and technology to enterprise, cloud, and IT infrastructure. In the healthcare space, we’ll continue to look for new technologies that improve health outcomes and make care more personalized, efficient, and cost-effective.
As our portfolio continues to grow and deliver strong returns into 2020, we couldn’t ask for a better group of people to lead the momentum than the exceptional team at Norwest. Raising a new fund cannot be accomplished without the involvement of the entire Norwest team, so we wanted to thank all of you including finance, legal, IT, HR, talent, marketing, data science, portfolio services, the administrative group, and the investment team.
We lead with our core values, and they define how we work with each other—and with current and prospective partners: We love the journey… and the reward, and we look forward to continuing on our mission to help founders at any stage take the steps necessary to improve and shape tomorrow’s technological landscape, guided by these values.
To read more about our 2018-2019 highlights and future goals, please see the NVP XV announcement press release here.