Norwest’s new $4 billion fund will prioritize early-stage artificial intelligence startups, a stated investment priority for Norwest’s 18th fund as it plans investments in new companies.
The firm disclosed the vehicle Nov. 12. It is the firm’s 18th fund and its largest to date, bringing capital under management to $18 billion, with investments planned at both venture and growth-equity stages.
The mandate covers technology, health care and consumer companies in the United States, India and Israel. The announcement does not state how the $4 billion will be divided among those markets. EconoTimes previously reported that Norwest left its India-specific allocation unspecified.
Norwest said early-stage AI startups will be a priority, alongside businesses in sectors other investors may overlook. The firm has operated for 65 years, and its previous fund raised $3 billion in 2024.
Norwest has said its history includes more than 750 companies and that its investments in India and Israel date back two decades. Its past investments have included Uber and Spotify.
