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Silicon Valley venture capital Norwest launches $3 billion fund -Breaking

by Mike Robinson

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Jane Lanhee Lee

(Reuters) – Norwest Venture Partners in Silicon Valley, a venture capital firm with $3 billion under management, announced Tuesday that it would launch its 16th largest fund.

“Valuations have risen. The check sizes are increasing. Parker Barrile from Norwest, a partner in the company, said about the new fund which brings the total assets under management of the firm to $12.5billion.

Norwest’s multibillion dollar venture capital fund is record-breaking. This year, many large private equity funds like Tiger Global Management (Coatue Management) have been active investors in startups.

The record amount of U.S. Venture Capital Investments in the first 11 months this year was about $305 Billion. That’s a significant increase over the prior record of $167 Billion for 2020 according to PitchBook.

According to PitchBook, Tiger Global was the largest fund globally launched in 2015 at $6.65 Billion. Five other funds, all of which were larger than Norwest’s, were also launched this year. One was from SoftBank Group Corp.

Barrile stated that Tiger and Coatue were “very complementary” to the model when asked about rivals from larger funds.

We are extremely hands-on with founders… Tiger comes in with large amounts of capital. That’s an excellent recipe for building a huge company.”

Norwest is an investor in many technology startups. It has offices in Palo Alto, San Francisco and subsidiaries in India.

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