The Northwest Growth Fund grew under the leadership of CEO Robert Zicarelli, including the opening of an office in Silicon Valley. Zicarelli retired in 1988 and was succeeded by Daniel Haggerty who retired in the 1990s.[5] George J, Still, Jr. (now partner emeritus) and Promod Haque took over as managing partners in 1994.[6]
Norwest's main LP is Wells Fargo (and Norwest Corporation before Wells Fargo merged with Norwest).[7]
In January 2016, the firm announced Norwest Venture Partners XIII, a $1.2B fund, and Wells Fargo was the sole investor in this fund.[8] In February 2018, the firm announced Norwest Venture Partners XIV, a $1.5B fund, in which Wells Fargo is a major investor.[9] In November 2019, the firm announced the firm announced Norwest Venture Partners XV, a $2B fund, bringing its total capital under management to $9.5B.[10]
In December 2021,[11] the firm announced Norwest Venture Partners XVI, a $3B fund, bringing its total capital under management to $12.5B.[1][12]
^ abc"Norwest Launches $3 Billion Fund NVP XVI to Empower Visionary Leaders Creating Businesses for the Future". Norwest Venture Partners. Retrieved 2022-02-09.
^Norwest Venture Partners Closes $1.5 Billion Fund, NVP XIV Norwest press release, February 14, 2018
^Richard Florida (Carnegie Mellon University) and Martin Kenney (Ohio State University). Venture Capital and High Technology Entrepreneurship. Elsevier Science Publishing Co, 1988
^EXECUTIVE CHANGES: Norwest Venture Capital Management. The New York Times, November 28, 1988
^Cromwell Schubarth (June 11, 2018). "Here are the big winners in Workday's $1.6B purchase of Adaptive Insights". Silicon Valley Business Journal. Retrieved October 7, 2022.
^Lung, Tiffany. "How Luxury DTC Brand Senreve Found Growth In Asia Amid Pandemic". Forbes. Retrieved 2021-11-29.
^ abPeter DeLevett (January 20, 2014). "Elevator Pitch: Norwest's Promod Haque is the $35 billion man". Mercury News. Retrieved October 7, 2022.
^Jonathan Shieber (September 30, 2019). "Upstart banking company Dave is now worth $1 billion, as Norwest puts in $50 million". TechCrunch. Retrieved October 7, 2022.
^Will Anderson (December 22, 2016). "Kendra Scott's $1 billion empire: PE firm buys into jewelry business at big valuation". Austin Business Journal. Retrieved October 7, 2022.
^Kyle Tibbitts (November 30, 2016). "Online real estate company Opendoor raises $210M". Opendoor. Retrieved October 7, 2022.
^Connie Loizos (December 14, 2021). "Norwest unveils a $3 billion fund, which is nearly one-fourth the capital it has ever raised". TechCrunch. Retrieved October 7, 2022.
^ abConnie Loizos (November 14, 2019). "Norwest closes its 15th fund with $2 billion - its biggest vehicle to date". TechCrunch. Retrieved October 7, 2022.
^Jordan Crook (June 14, 2016). "Talksapce online therapy platform raises $15 million Series B". TechCrunch. Retrieved October 7, 2022.
^Lora Kolodny (May 8, 2014). "Udemy Raises $32M to Teach 'Lifelong Learners' Online, Around the World". Wall Street Journal. Retrieved October 7, 2022.
^Mike Freeman (2021-07-27). "Internet of Things sensor startup Wiliot pulls in $200 million from SoftBank Vision Fund". San Diego Union Tribune. Retrieved 2022-07-08.
^"The Top 146 Founder-Friendly PE and VC Firms". Inc.com. Retrieved 2022-02-17.
^Goldfisher, Alastair (2021-11-01). "VCJ 50: The top venture fundraisers of 2021 are making waves". Venture Capital Journal. Retrieved 2022-02-17.
^"The Top 25 Private Equity Firms for Growth Companies of 2021 | GrowthCap". Retrieved 2022-02-17.