"Online real estate company Opendoor raises $210M". "Kendra Scott's $1 billion empire: PE firm buys into jewelry business at big valuation". "Upstart banking company Dave is now worth $1 billion, as Norwest puts in $50 million". ^ Jonathan Shieber (September 30, 2019)."Elevator Pitch: Norwest's Promod Haque is the $35 billion man". ^ a b Peter DeLevett (January 20, 2014)."How Luxury DTC Brand Senreve Found Growth In Asia Amid Pandemic". "Here are the big winners in Workday's $1.6B purchase of Adaptive Insights". ^ Venture firm Norwest raises $1.5 billion fund, its largest ever, Reuters, February 14, 2018.^ Norwest Raises Third Consecutive $1.2 Billion Fund in Five Years, TechCrunch, January 20, 2016.^ EXECUTIVE CHANGES: Norwest Venture Capital Management.Venture Capital and High Technology Entrepreneurship. ^ Richard Florida (Carnegie Mellon University) and Martin Kenney (Ohio State University).^ Norwest Venture Partners Closes $1.5 Billion Fund, NVP XIV Norwest press release, February 14, 2018.^ "Norwest Launches $3 Billion Fund NVP XVI to Empower Visionary Leaders Creating Businesses for the Future".Top 25 Private Equity Firms for Growth Companies.VCJ 50: The Top Venture Fundraisers of 2021.Notable investments for Norwest include: Adaptive Insights, Casper, Dairy Queen, Cray Dave, Kendra Scott, Opendoor, Plaid, Spotify, Uber, Talkspace, Udemy, and Wiliot. In December 2021, the firm announced Norwest Venture Partners XVI, a $3B fund, bringing its total capital under management to $12.5B. In November 2019, the firm announced the firm announced Norwest Venture Partners XV, a $2B fund, bringing its total capital under management to $9.5B. In February 2018, the firm announced Norwest Venture Partners XIV, a $1.5B fund, in which Wells Fargo is a major investor. In January 2016, the firm announced Norwest Venture Partners XIII, a $1.2B fund, and Wells Fargo was the sole investor in this fund. Norwest's main LP is Wells Fargo (and Norwest Corporation before Wells Fargo merged with Norwest). (now partner emeritus) and Promod Haque took over as managing partners in 1994. Zicarelli retired in 1988 and was succeeded by Daniel Haggerty who retired in the 1990s. The Northwest Growth Fund grew under the leadership of CEO Robert Zicarelli, including the opening of an office in Silicon Valley. It later merged with Wells Fargo in 1998. Northwest Venture Fund, a private equity and venture capital affiliate of Norwest Corporation, was founded in Minneapolis in 1961.
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