The Hindu Business Line : Norwest Venture Partners raises $1.2 b for PE fund

NEW DELHI: US-based private equity firm Norwest Venture Partners on Wednesday said it has raised $1.2 billion to invest in domestic and international companies across sectors.

The company has achieved closure for its Norwest Venture Partners XI, LP fund.

The $1.2-billion fund will target early to late stage venture and growth equity investments across a wide range of sectors, the PE firm said in a statement.

“The closing of NVP XI will enable us to further expand our growth. NVP is dedicated to both domestic and international investments,’’ the Managing Partner, Mr Promod Haque, said.

With the fund closure, the total corpus of the PE firm now stands at over $3.7 billion, the statement added.

Norwest Venture Partners has hired five investment professionals to focus on venture and growth equity investments in India, it said.

“We believe now is a great time to invest and we see significant opportunities particularly in growth equity and in emerging markets such as India and China,’’ Mr Haque said. — PTI

Prev: Tim Sensenig is Four Soft Executive V-P
Next: Wockhardt gets FDA nod for Nicardipine injections

Business Line | NUS Index |

Copyright copy; 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line