Press Release

Norwest Closes $3 Billion Fund to Empower Visionary Leaders

December 16, 2021

Boston – December 16, 2021 – Cooley advised Norwest Venture Partners on the closing of a $3 billion fund, Norwest Venture Partners XVI, which brings its total capital under management to $12.5 billion. Partners Nicole Peppe and Paul Roberts led the Cooley team advising Norwest, a venture capital and growth equity investment firm.

The new fund will target innovative companies with transformational businesses, empowering its portfolio leaders with the resources and connections to enhance their growth and create sustainable value. Norwest will continue to employ a multi-stage, multi-sector approach to investing in leadership teams capable of building paradigm-shifting businesses across the consumer, enterprise and healthcare sectors.

“We are excited to formalize our dedication to backing companies that also care about environmental and social sustainability with the introduction of an ESG policy in parallel with our continued commitment to diversity, equity and inclusion,” Sonya Brown, general partner of Norwest, said in a news release. “We have long invested in companies capable of driving lasting change and will continue to do so with our new fund.”

Since its inception, Norwest has invested in more than 650 companies, and it currently partners with more than 200 companies in its venture and growth equity portfolio. The firm offers a deep network of connections, operating experience and a wide range of impactful services to help CEOs and founders scale their businesses.

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