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Norwest Venture Partners closes on $1.2 billion fund: The global VC firm has an office in Hertzliya. [Globes, Tel Aviv, Israel](Globes (Tel Aviv) Via Acquire Media NewsEdge) Nov. 18--Venture capital and investment firm Norwest Venture Partners (NVP) today announced that it has closed on its newest fund, the $1.2 billion Norwest Venture Partners XI, LP. The $1.2 billion fund will target early to late stage venture and growth equity investments across a wide range of sectors and geographical areas, including Israeli firms. Norwest partner Dror Nahumi is focused on Israeli investments. The firm recently opened an office in Hertzilya. Unlike VC firms such as Greylock Partners and Sequoia Capital, NVP does not currently have a fund aimed specifically at Israeli companies, but part of its overall fund is available for investment in Israel. NVP is one of the world's veteran VC firms, having been around for 48 years, and has invested in more than 450 companies since its inception. The new fund is the largest fund the firm has closed to date, brings NVP's total capital and commitments to more than $3.7 billion. NVP focuses on investments in information technology, business services, financial services, infrastructure, technology-enabled services, and consumer needs. NVP managing partner Promod Haque said, "NVP partners are committed to each investment in the portfolio, regardless of the location or stage, and they all have a vested interest in making each NVP company successful. This philosophy is extended to the firm's global offices, and we plan to continue this philosophy as we invest out of NVP XI." Haque, saying now is a great time to invest, added, "The growing significance of globalization, cloud computing, consumer driven technology and mobility are some of the key mega trends that are converging and creating a promising investment climate." To see more of the Globes or to subscribe to the newspaper, go to http://www.globes-online.com. Copyright (c) 2009, Globes, Tel Aviv, Israel Distributed by McClatchy-Tribune Information Services. For reprints, email [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. |