Betting big on India: Norwest closes record USD 4 billion fund

US-based investment firm Norwest has closed a record USD 4 billion fund—its largest in 65 years—named Norwest 18. This latest raise pushes the firm's total capital under management to USD 18 billion.

The new fund will drive venture and growth equity investments across the technology, healthcare, and consumer sectors in the United States, India, and Israel. India is expected to capture a substantial share of this capital, continuing Norwest's pattern of deploying approximately USD 250–350 million annually in the country.

Niren Shah, Managing Director and Head of Norwest India, emphasized the firm's strong long-term confidence in the Indian market. The investment strategy will increasingly home in on value-added and precision manufacturing, industrial services, and healthcare, supported by the Make in India initiative and global supply chain diversification.

Since the launch of Norwest 17 in April 2024, the firm has backed over 87 companies and delivered more than 30 portfolio exits via IPOs and strategic acquisitions.

News by Rahul Yelligetti.