Business Wire·Nov 12, 2026, 6:00 AM ET

Norwest Announces $4 Billion Global, Multi-Stage Fund

BLLN MBX OMDA

Norwest closed Norwest 18, a $4 billion fund that is the largest in the firm's 65-year history, bringing total capital under management to $18 billion.
The fund will support venture & growth equity investments across technology, healthcare, & consumer sectors in the U.S., India, & Israel.
Since launching Norwest 17 in April 2024, the firm made over 87 investments & facilitated liquidity events for 30+ portfolio companies.
Recent IPOs include Amagi Media Labs, BillionToOne, MBX Biosciences, Omada Health, & Swiggy.
Notable strategic acquisitions include Avetta, AbsenceSoft, Ouro Medicines, Qualified, tvScientific, & Veza.
Norwest is expanding focus into next-generation financial infrastructure, physical & voice AI, agentic cybersecurity, technology-enabled industrial & aerospace, & healthcare AI.
Specific recent investments include Beltic, Rain, & Stablecore for financial infrastructure; Coval, Generalist AI, & LlamaIndex for AI systems; Above Security, ORION Security, Red Access, & Zenity for cybersecurity; East Range Group, Padmini VNA, JJG Aerospace, & Raghu Vamsi Aerospace Group for industrial & aerospace; & Infinx, Matchpoint Therapeutics, Rezo Therapeutics, Tokaido Health, & Vitalize Care for healthcare AI.
The firm expanded its Portfolio Success platform by doubling its Senior Advisor Network, adding Operating Executives, & launching the Norwest Operator Collective & Norwest Kinetic.
Norwest manages investments across early- to late-stage businesses, currently partners with 275 companies, & has offices in Menlo Park, San Francisco, Mumbai, & Tel Aviv.