Norwest, a global, multi-stage investment firm, today announced the close of Norwest 18, a $4 billion fund and the largest in the firm’s 65-year history, bringing its total capital under management to $18 billion. The fund will support venture and growth equity investments across technology, healthcare, and consumer sectors in the U.S., India, and Israel, building on Norwest’s track record of backing category-leading companies including Babylist, Gong, Monogram Health, OfBusiness, VAST Data, Vuori, and YipitData.

Since the launch of Norwest 17 in April 2024, the firm has made more than 87 investments and worked with over 30 portfolio companies to achieve liquidity events. These include initial public offerings from Amagi Media Labs (NSE: AMAGI), BillionToOne (NASDAQ: BLLN), MBX Biosciences (NASDAQ: MBX), Omada Health (NASDAQ: OMDA), and Swiggy (NSE: SWIGGY), among others. Notable strategic acquisitions include Avetta by EQT, AbsenceSoft by Luminate Capital Partners, Ouro Medicines by Gilead Sciences, Qualified by Salesforce, tvScientific by Pinterest, and Veza by ServiceNow.

“Building and scaling a company has never been a linear journey, and today that journey is becoming more complex,” said Jeff Crowe, Senior Managing Partner at Norwest. “Companies are staying private longer, scaling across markets, and navigating critical decisions around technology, talent, and growth. Capital is only one part of what they need. Our role is to be a long-term partner and bring the experience, networks, and resources that can help leadership teams make those decisions with confidence.”

As AI creates new categories and reshapes established industries, Norwest is seeing compelling opportunities emerge across core sectors of technology, healthcare, and consumer, and is continuing to expand into areas such as next-generation financial infrastructure, physical and voice AI, agentic cybersecurity, technology-enabled industrial and aerospace, and healthcare AI. Recent investments include:

  • Beltic, Rain, and Stablecore are building the next generation of financial infrastructure, modernizing payments, enabling new forms of commerce, and advancing the adoption of digital currencies.

  • Coval, Generalist AI, and LlamaIndex are advancing the development and deployment of intelligent AI systems, enabling agents to reason, interact with data, and take action across digital and physical environments.

  • Above Security, ORION Security, Red Access, and Zenity are redefining cybersecurity for the agentic era, helping enterprises secure AI-driven workflows, protect sensitive data, and manage emerging threats.

  • East Range Group, Padmini VNA, JJG Aerospace, and Raghu Vamsi Aerospace Group are strengthening mission-critical industrial and aerospace capabilities through specialized manufacturing, engineering, and essential infrastructure services.

  • Infinx, Matchpoint Therapeutics, Rezo Therapeutics, Tokaido Health, and Vitalize Care are leveraging AI to build drug discovery platforms, automate complex clinical and administrative workflows, augment care teams, and improve how healthcare is delivered and accessed.

“Markets and technology change, but what has remained consistent at Norwest is our ability to identify strong businesses, invest patiently, and stay closely aligned with the founders, CEOs, and leadership teams we partner with,” said Jon Kossow, Managing Partner at Norwest. “Our multi-stage strategy allows us to meet companies where they are and continue supporting them as they grow. Norwest 18 gives us even greater flexibility to do that across sectors, stages, and geographies.”

Beyond capital, Norwest supports its portfolio through strategic advisory, experienced operators, and programs built for key stages of growth. As AI continues to change how companies build, operate, and scale, portfolio companies need real support across technology, go-to-market, and organizational development. Most recently, Norwest has significantly expanded its Portfolio Success platform by doubling its Senior Advisor Network, adding new Operating Executives, and launching the Norwest Operator Collective and Norwest Kinetic to meet that need.

For more about Norwest and its portfolio, visit www.norwest.com.

About Norwest

Norwest is a global, multi-stage investment firm managing $18 billion in capital. Since 1961, Norwest has invested in more than 750 companies and currently partners with more than 275 companies across its venture and growth equity portfolio. The firm invests in early- to late-stage businesses across key sectors with a focus on technology, healthcare, and consumer. The Norwest team offers a deep network of connections, extensive operating experience, and a wide range of services to help founders, CEOs, and leadership teams build and scale their businesses. Norwest has offices in Menlo Park and San Francisco, Calif.; Mumbai, India; and Tel Aviv, Israel.

Media gallery

About The Author
Business Wire