Norwest
Tech focused growth equity firm
San Francisco CA

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Review

Overall Rank: 16
Category: Venture Growth
Category Rank: 2

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Profile

Norwest is a leading venture and growth equity investment firm managing more than $12.5 billion in capital. Since its inception, Norwest has invested in more than 650 companies and currently partners with more than 200 companies in its venture and growth equity portfolio. The firm invests in early to late-stage businesses across a wide range of sectors with a focus on consumer, enterprise, and healthcare. The Norwest team offers a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Palo Alto and San Francisco, with subsidiaries in India and Israel.


www.nvp.com


Awards

2022 Top 25 Private Equity Firms

2022 Top Women in Growth Investing, Sonya Brown

2021 Top 25 Growth Equity Firms

2021 Top 40 Under 40 Growth Investors, Ran Ding

2021 Top 25 Private Equity Firms for Growth Companies of

2021 Top 25 Healthcare Investors, Dr. Ryan Harris

2020 Top 25 Growth Equity Firms

2020 Top 40 Under 40 Growth Investors, Stew Campbell

2020 Top Women in Growth Equity and Private Equity, Sonya Brown

2019 Top 40 Under 40 Growth Investors, Rob Arditi

2014 Top 25 Growth Equity Investors

Key People

Norwest is led by Senior Managing Partner Jeff Crowe and Managing Partners Promod Haque and Jon Kossow. Crowe has 20+ years of experience building companies and is a Midas List investor. Haque has 30+ years of investing experience and is a Midas List and “Hall of Fame” investor with more than $40 billion in exit value. Kossow has 20 + years of investment experience and is the co-head of the growth equity team.

Funds Raised

Norwest Venture Partners has raised a total of $12.5 billion across 13 funds. The latest fund was announced on 12/14/21 and raised $3 billion.

Fund Name Size Date
NVP XVI $3 billion 12/14/21
NVP XV $2 billion 11/14/19
NVP XIV $1.5 billion 2/14/18
NVP XIII $1.2 billion 1/20/16
NVP XII 1.2 billion 4/13/14

Key Investments

List several of your firm’s most notable investments. If you have exited the investment, the exit should not have been more than five years ago.

Company Name Investment/Exit Date Sector Description
Grove Collaborative Exit – June 2022 Consumer
Infutor Exit – Feb 2022 Enterprise Expert in Consumer Identity Management.
Classy Exit – Jan 2022 Enterprise Helps nonprofits maximize their impact through a suite of world-class online fundraising tools.
Dave Exit – Jan 2022 Consumer App-based financial services platform.
Udemy Exit – Oct 2021 Consumer World’s largest marketplace for online teaching and learning.
Envisage Technologies Exit – Sept 2021 Enterprise Public safety training and compliance management systems.
Agari Exit – May 2021 Enterprise Security against advanced phishing attacks.
VisitPay Exit – May 2021 Healthcare The first and only platform for Patient Financial Health.
Galvanize Exit – April 2021 Enterprise Security, risk management, compliance, and audit software.
Opendoor Exit – Dec 2020 Consumer Online home-selling service.
CyberX Exit – June 2020 Enterprise Cybersecurity platform.
BlueJeans Exit – April 2020 Enterprise Video calling platform. 
Shape Security Exit – Dec 2019 Enterprise Defense against malicious automated cyber-attacks.
6 River Systems Exit – Sept 2019 Enterprise Collaborative robotic fulfillment solutions.
Amagi Investment – Sep 2021 Enterprise Cloud solutions for media and entertainment.
Babylist Investment – Nov 2021 Consumer Baby registry.
Calm Investment – Jan 2021 Consumer Calm is the leading mental wellness brand with the #1 app for sleep, meditation and relaxation.
Celona Investment – Sept 2019 Enterprise Bridging the divide between 5G and enterprise infrastructures.
Citcon Investment – Oct 2021 Consumer Global all-in-one payment gateway with a unified API to 100+ digital wallets.
Dremio Investment – Jan 2018 Enterprise Open source Data-as-a-Service platform.
Excision BioTherapeutics  Investment – Mar 2021 Healthcare Developing CRISPR-based therapies to cure viral infectious diseases.
Fabric Investment – Feb 2021 Enterprise Headless commerce platform.
Faire Investment – Dec 2020 Consumer Online wholesale marketplace connecting 100,000+ local retailers & brands.
Flyhomes Investment – June 2021 Consumer Flyhomes is reinventing the home-buying process and bringing every step under one roof.
Gong Investment – June 2016 Enterprise Revenue intelligence technology for sales teams.
Icon Investment – Aug 2021 Consumer 3-D printed homes. 
Maelys Investment – May 2021 Consumer Direct-to-consumer body-care brand.
Mindful Health Solutions Investment – May 2021 Healthcare Comprehensive mental health services for patients with anxiety, depression, and other conditions.
Plaid Investment – Dec 2018 Consumer APIs to connect financial applications.
Policygenius Investment – May 2017 Consumer Insurance without the insurance agent. 
UPSIDE Foods Investment – Jan 2020 Consumer Cell-based meat maker. 
Supplier.io Investment – July 2021 Enterprise Supplier diversity solutions.
Third Wave Automation Investment – Aug 2021 Enterprise Advanced autonomous forklifts.
Vanmoof Investment – Sep 2020 Consumer eBike maker. 
Poolwerx Investment – July 2022 Consumer Global franchise pool service brand.
Noyo Investment – May 2022 Consumer Connected benefits network.
Velocity Global Investment – May 2022 Consumer Global talent platform.
Veza Investment – April 2022 Enterprise Data security platform.
tvScientific Investment – April 2022 Consumer CTV performance advertising platform

Capital Responsibility

Norwest incorporates environmental, social and governance (ESG) considerations into its investment analysis, decision-making and portfolio services.

The firm takes pride in helping its companies enhance their value and long-term sustainability while managing and mitigating risk. Norwest also recognizes the value of strong ESG management in its internal operations as a firm and holds itself to the same standard as its portfolio companies.

Norwest believes that optimizing ESG performance can drive value creation, while ignoring ESG performance exposes a company to material risks. This has been reflected in how the firm has done business for decades.

CEO Reviews

Myong Lee, President & Co-Founder, Clever Care Health Plan

“We have been fortunate to partner with Norwest, whose healthcare expertise was invaluable in helping us launch and scale our company. It is exciting that Norwest believes in and shares our vision of helping underserved aging populations.”

Neeraj Shah, President & Ceo, Supplier.Io

“In Norwest, we’ve found a partner that shares our mission to help make a difference through supplier diversity. Norwest’s strategic, operational and ESG expertise will allow us to significantly accelerate our goal to help companies increase their use of diverse suppliers everywhere.”

Christopher Himes, CEO, Classy

“At Classy, balancing purpose and profit has been in our ethos since our founding. In Norwest we found a partner that aligned with these values and could also help us continue to build the best technology to serve the social sector. Norwest’s investment allows us to pour more focus into product development and drive the biggest impact and ROI for our nonprofit customers.”

Kendra Scott, Founder & CEO, Kendra Scott

“I feel blessed every day that we found Norwest.”

Stuart Landesberg, CEO & Co-Founder, Grove Collaborative

“Norwest is an unwavering partner—committed to our success and actively working on our behalf.”

Joe Kudla, CEO & Founder, Vuori

“Norwest was the first institutional investor to back Vuori. Jon Kossow and team understood my vision, offered guidance and resources, and never over-inserted themselves in running our business. Norwest truly partners with its portfolio to build solid, sustainable companies for the future.”

Amy Errett, CEO & Founder, Madison Reed

“I always feel like Norwest is in our court and will do whatever it takes to make sure that our company succeeds.”