private industry venture capital founded 1961 headquarters palo alto & san francisco ca total assets 6 billion 1 number of employees 90 2016 website www.nvp.com norwest venture partners norwest is a venture and growth equity investment firm with approximately 6 billion in capital under management . 2 the firm targets early to late stage venture and growth equity investments across several sectors including cloud computing and information technology internet and consumer software as a service business and financial services and healthcare . 1 headquartered in palo alto california norwest has offices in san francisco and new york and subsidiaries in mumbai and bengaluru india and herzelia israel . the firm has funded more than 575 companies since inception . as of early 2016 the firm has approximately 130 active companies across its venture and growth equity portfolio . 1 in january 2016 the firm announced norwest venture partners xiii a 1.2 b fund . nvp xiii marked norwest s third consecutive 1.2 b fund raised in fewer than six years . 1 in 2014 and 2015 23 of norwest s portfolio companies went public or were acquired . the number includes seven public offerings in the u.s. india and israel and 16 company acquisitions . 3 contents 1 portfolio services 2 leadership 3 investment team 4 initial public offerings 5 mergers and acquisitions 6 investments by stage 7 investments by sector 8 history 9 references 10 external links portfolio services edit norwest provides resources to funded companies through its portfolio services group . resources include strategies and services for employee talent and retention market development human resources public relations and marketing and operations . the group manages the norwest loop an online community for company leaders to use for sharing information and experiences with each other and their norwest contacts . 4 the portfolio services group also hosts events for norwest funded companies several times a year . topics have included educational technology demand generation strategies employer branding and an event series focused on female founders of companies . 5 leadership edit norwest is led by senior managing partner promod haque and managing partners jeff crowe and matthew howard . promod haque promod haque joined norwest in 1990 . as of early 2016 his investments in more than 70 companies have produced more than 40 billion in exit values as 25 of his portfolio companies have gone public and 37 have been acquired or have gone public and been acquired . 6 his most notable deal was cybersecurity company fireeye which had the second best performing initial public offering ipo in the u.s. in 2013 . 6 his recent investments include dtex systems palerra shape security health catalyst and carecloud . haque has been named to the forbes midas list of top tech investors since 2001 and in 2014 was named by forbes as a hall of fame investor . 2016 marked his 12th appearance on the list including 2004 when he was ranked the 1 venture capitalist based on performance over the previous decade . 6 jeff crowe jeff crowe joined norwest in 2004 and became a managing partner in 2013 . he worked in the tech world for 20 years as cofounder and ceo of software company edify . in recent years crowe has invested in jet.com as well as honeybook and modsy . he currently serves on the boards of public companies lending club nyse lc and retailmenot nasdaq sale and private companies badgeville extole glint honeybook madison reed modsy owler and turn . crowe is a board observer at minted and is responsible for norwest s investments in jet spotify and uber . 7 he was named to the forbes midas list in 2014 2015 and 2016 . 8 matthew howard matthew howard joined norwest in 2000 as a general partner and was named a managing partner in 2013 . 9 he has appeared on the forbes midas list as a top 100 investor three times and was recognized in 2013 by business insider as one of the 19 best enterprise tech venture capitalists . 10 he focuses his efforts on mobile security rich media cloud based services applications networking and storage sectors . he serves on the board of several companies including avere systems bitglass blue jeans network bluenose analytics exabeam exablox and mobileiron nasdaq mobl . he serves on the technical advisory board for in q tel s lab 41 initiative to address mission critical problems for the united states intelligence community . before joining norwest howard was an early employee of cisco . 11 george j. still jr. partner emeritus was named to the forbes midas list in 2011 . 12 investment team edit partners on norwest s u.s. investment team 13 include robert abbott robert arditi sonya brown jeff crowe casper de clercq vab goel joshua goldman promod haque matthew howard ryan a. harris m.d. sean jacobsohn jon kossow robert mittendorff m.d. sergio monsalve rama sekhar david su the firm s india based team includes sohil chand promod haque sumer juneja mohan kumar niren shah dror nahumi focuses on investments in israel . initial public offerings edit norwest funded companies that have filed for initial public offering ipo status include fireeye nasdaq feye and apigee nasdaq apic in 2015 and lending club nyse lc intersect ent nasdaq xent and mobileiron nasdaq mobl in 2014 . in india sadbhav engineering ltd. nse sadbhav filed in 2015 and snowman logistics nse snowman filed in 2014 . israel based solaredge filed in 2015 nasdaq sedg . 14 mergers and acquisitions edit norwest funded companies that have been acquired include hybrid cloud company ravello systems which was acquired by oracle in march 2016 . 15 in that same month clarus commerce was acquired by trivergance llc . 16 in 2014 the firm witnessed the acquisition of satellite imaging company skybox imaging now terra bella by google for 500m . 17 in 2015 big data discovery and data sharing platform 1010data was acquired by advance for 500m . 18 in august 2016 wal mart stores inc. and jet.com inc. announced their entry into a definitive agreement for walmart to acquire jet for approximately 3.3 billion . 19 wearable tech company misfit wearables was acquired by fossil group for 260m in late 2015 20 video processing startup elemental was sold to amazon for 296m 21 and outplacement provider risesmart was sold to randstad for 100m . 22 other mergers and acquisitions included the sale of online marketing firm adchina to alibaba group nyse baba 23 the acquisition of map tech startup decarta by uber 24 the sale of video advertising company true x to 21st century fox 25 the sale of software defined networking startup contextream to hp 26 software defined networking company cyan inc. to ciena 27 predictive analytics for retail businesses the retail equation to appriss 28 big data startup hadapt to teradata 29 and the merger of pertino with cradlepoint . 30 investments by stage edit venture investments norwest s early stage or seed investments include such companies as casper cognitive scale fireglass glint ifttt and modsy . other norwest funded ventures include act on adaptive insights bitglass blue jeans network borqs bracket computing dtex systems engagio exabeam exablox honeybook jet.com lumosity madison reed minted mist modcloth nexthealth technologies palerra pch international second measure sensay spotify talkspace turn uber and udemy . in india norwest s venture investments include such companies as attune capillary technologies crmnext fashion and you indusind bank ing vysya bank manthan systems nationwide primary healthcare services ovum pepperfry perfint quikr revx formerly komli sulekha.com suvidhaa swiggy yatra.com yes bank and zenoti . in israel norwest s venture investments include such companies as fireglass gong personali pontis ravello systems seculert solaredge nasdaq sedg sundaysky and velostrata . growth equity investments norwest s growth equity investments include kendra scott medgate my alarm center pca skin pics rainmaker the learning experience turnitin and wineaccess . in india norwest s growth investments include asian genco cholamandalam finance national stock exchange of india nueclear networked imaging centres rbl bank sadbhav engineering ltd. shriram city union finance snowman logistics nse snowman and thyrocare . 31 investments by sector edit enterprise cloud and it infrastructure norwest investments include act on adaptive insights appnomic appriss attune avere systems badgeville bitglass blue jeans network bluenose borqs bracket computing brite semiconductor capillary technologies clariphy cognitive scale crmnext dtex systems engagio exabeam exablox extole fireeye fireglass glint gong ifttt manthan systems mblox mist mobileiron motif national stock exchange of india limited palerra pch international owler personali pics pontis qubole rafter rainmaker rallyteam ravello systems revx formerly komli sadbhav second measure seculert shape security shotspotter snowman logistics solaredge trustid turnitin velostrata zenoti and zirx . consumer internet norwest investments include asian genco bailey44 casper cholamandalam finance clarus commerce fashion and you gemvara gilt groupe hobnob honeybook indusind bank ing vysya bank iprof jet.com kendra scott lending club lumosity madison reed manta minted modcloth modsy my alarm center ninthdecimal pca skin pepperfry quikr rafter rbl bank retailmenot nasdaq sale sensay shriram city sketchdeck skyward sojern spotify stellaservice sundaysky sulekha.com suvidhaa swiggy the learning experience topo athletic turn uber udemy wineaccess yatra.com and yes bank . healthcare norwest investments include capsugel carecloud cleardata crossover health healthcatalyst icardiac technologies intersect ent nasdaq xent irhythm medgate nationwide primary healthcare services nexthealth technologies nueclear networked imaging centres omada health ovum perfint rivermend health talkspace telcare thyrocare and tigertext . history edit norwest venture partners traces its roots back to 1961 with the formation of the northwest venture fund a private equity and venture capital affiliate of norwest corporation a midwestern bank based in minneapolis that merged with wells fargo in 1998 . 32 in the late 1950s and early 1960s minneapolis was an early site for both venture capital and high technology business . the vc industry was active with the formation of the first small business investment company sbic and first midwest capital corporation . in 1957 control data corporation a pioneering supercomputer company was founded by william norris . two years later norris was instrumental in the formation of the northwest growth fund and the firm was active in the minneapolis high tech industry . history of private equity and venture capital early history origins of modern private equity the 1980s leveraged buyout boom the 1990s leveraged buyout and the venture capital bubble the 2000s dot com bubble to the credit crunch v t e the northwest growth fund grew under the leadership of ceo robert zicarelli including the opening of an office in silicon valley . zicarelli retired in 1988 and was succeeded by daniel haggerty who retired in the 1990s . 33 george j still jr. now partner emeritus 34 and promod haque took over as managing partners in 1994 . references edit a b c d norwest raises new 1.2 b fund to support its growing network of portfolio companies . norwest blog post january 20 2016 . this 55 year old vc firm just raised its third 1.2 billion fund in a little over 6 years business insider january 20 2016 . norwest venture partners closes third consecutive 1.2 billion fund norwest press release january 20 2016 norwest portfolio services company website accessed 04 14 16 norwest events company website accessed 04 14 16 a b c 52 promod haque forbes midas list 2016 . norwest team jeff crowe company website accessed april 4 2016 . jeff crowe forbes midas list 2016 . matthew howard linkedin linkedin accessed april 21 2016 the 19 best enterprise tech venture capitalists business insider may 15 2013 norwest team matthew howard company website accessed april 21 2016 george still forbes midas list 2011 meet the team company website edgar online accessed 04 16 16 oracle buys cloud software startup ravello systems for 500 million source says venturebeat february 22 2016 norwest venture partners sells clarus commerce pe hub network march 23 2016 1 google buys skybox imaging not just for its satellites forbes june 10 2014