New fundFinancial Services
Norwest raises $4 billion 18th fund
By Abha Lohia · Editor ·
- Norwest is a global investment firm that backs startups and companies across venture, growth equity and buyouts in the US, India and Israel
- It closed its largest fund ever, Norwest 18, at $4 billion, lifting total capital under management to $18 billion
- India holds $2.5 billion of its assets and it will keep investing about $250-350 million a year there
What happened
- Norwest closed Norwest 18 at $4 billion.
- Total capital managed is now $18 billion.
- It invests across the US, India and Israel.
Why it matters
- India is a key market for the firm.
- It plans more in manufacturing and mechatronics.
- Its India portfolio has 41 companies.
The business
- Venture cheques run $10-25 million.
- Growth and buyout cheques run $30-150 million.
In numbers
$2.5 billionIndia assets · 2026
What happens next
- Keep deploying $250-350 million a year in India.
The numbers around it
Financial Services in November 2026: 6 rounds with a disclosed amount, $176 million in all; the biggest was Kissht (₹832 Cr). Every sector this year →
Terms in this story
- Startup: A startup is a young company built to find a new way of doing something and to grow fast, usually by serving many customers at little extra cost. India also has a legal definition for scheme benefits: under ten years old, turnover under ₹200 crore, and working on innovation or a scalable model.
- Private equity: Venture capital backs young companies that could grow very fast, taking small stakes and accepting that many will fail, while private equity backs mature companies, often with large or controlling stakes and steadier returns. In India both usually invest through SEBI-registered AIFs, with venture capital funds in Category I and most private equity in Category II.
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