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Norwest Venture Partners

Private Equity, Venture Capital · Founded 1961 · Palo Alto, United States

#85 Investor Ranking 2026 Top 0.5% of investors worldwide

One of the most seasoned venture capital and PE investor active for over the last 60 years and having invested in more than 700 companies spanning a diverse set of sectors and stages

489 Portfolio companies+32% in 5 years
69 Unicorns
5 Decacorns
957 Investments
Aug 2026 Last investment
02 · Biggest holdings

Norwest Venture Partners’ biggest current holdings.

Norwest Venture Partners is a named shareholder in 15 companies. Dealroom estimates those stakes are worth about $6.0B in total — the disclosed percentage × each company’s latest valuation. The 12 biggest are below, each sized by that estimate.

#CompanyEst. stakeValuationEst. value
  1. 1 Vast DataEnterprise Software · Decacorn 6% $30.0B $1.8B
  2. 2 VuoriFashion · Unicorn 22.5% $5.5B $1.2B
  3. 3 GongMarketing · Unicorn 10% $7.2B $725M
  4. 4 HarnessEnterprise Software · Unicorn 7% $5.5B $385M
  5. 5 HoneyBookFintech · Unicorn 16% $2.4B $384M
  6. 6 ICON TechnologyReal Estate · Unicorn 14.8% $1.8B $269M
  7. 7 4.5% $5.0B $225M
  8. 8 12.5% $1.5B $188M
  9. 9 12% $1.1B $134M
  10. 10 8.5% $1.5B $128M
  11. 11 10% $1.2B $120M
  12. 12 12% $1.0B $120M

Showing the 12 largest of 15 disclosed direct holdings.

6 companies hidden on this public profile. Estimated value = Norwest Venture Partners’ disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. Norwest Venture Partners also appears inside investor groups in Workato, where a standalone stake isn’t disclosed. See the underlying shareholder registers on Dealroom →

03 · Exits

Norwest Venture Partners’ biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from Norwest Venture Partners’ transaction record.

Vertex Pharmaceuticals
IPO · 1991
Entered Series B+Now $120BHealth
$12B IPO · 2024
Entered Series B+Now $8.4BFood
$360M IPO · 2010
Entered Series ANow $11BEnterprise Software
$5.4B IPO · 2014
Entered Series B+Now $1.3BFintech
$4.8B IPO · 2020
Entered Series B+Now $4.4BReal Estate
IPO · 2016
Entered Series B+Now $4.4BHealth
$2.3B IPO · 2013
Entered Series ANow $4.2BSecurity
$4.0B IPO · 2022
Entered Series B+Now $4.1BFintech
$2.6B IPO · 2025
Entered Series B+Now $4.0BHealth
$3.7B IPO · 2021
Entered Series B+Now $327MEducation
$3.2B acquisition · 2002
Entered Series B+Marketing
IPO · 1999
Entered Series ANow $3.1BMedia
04 · Portfolio analysis

Where Norwest Venture Partners’ portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 489 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. USA430
  2. India61
  3. Israel20
  4. Canada7
  5. Australia3
  6. China3
  7. Cuba2
  8. Germany2
  9. Sweden2
  10. Finland1
  11. Netherlands1
  12. Philippines1
By sectorCount
  1. Enterprise Software137
  2. Health84
  3. Fintech63
  4. Marketing60
  5. Security50
  6. Telecom33
  7. Media25
  8. Real Estate20
  9. Fashion17
  10. Education16
  11. Home Living16
  12. Jobs Recruitment16
By stage enteredCount
  1. Series B+237
  2. Series A180
  3. Seed74
By growth stageCount
  1. Breakout Stage243
  2. Late Growth179
  3. Early Growth103
  4. Mature12
05 · Portfolio market map

Inside Norwest Venture Partners’ portfolio.

The 60 highest-funded portfolio companies, of 489 tracked.

Swiggy
Food · Unicorn
$8.4B
Opendoor
Real Estate · Unicorn
$4.4B
Faire
Home Living · Decacorn
$13B
OfBusiness
Fintech · Unicorn
$5.0B
Harness
Enterprise Software · Unicorn
$5.5B
Gong
Marketing · Unicorn
$7.3B
YipitData
Fintech · Unicorn
$1.0B
Xpressbees
Transportation · Unicorn
$1.4B
ICON Technology
Real Estate · Unicorn
$1.8B
Grove Collaborative
Wellness Beauty
$82M
Monogram Health
Health · Unicorn
$1.9B
Generalist AI
Robotics · Unicorn
$2.0B
Velocity Global
Fintech · Unicorn
$2.0B
HoneyBook
Fintech · Unicorn
$2.4B
Five Star Business Finance
Fintech · Unicorn
$3.0B
WEKA
Enterprise Software · Unicorn
$1.6B
Omada Health
Health · Unicorn
$1.2B
Vuori
Fashion · Unicorn
$5.5B
ElasticRun
Transportation · Unicorn
$1.5B
Workato
Media · Unicorn
$5.7B
TalkSpace
Health
$783M
Amagi Media Labs
Media
$869M
Dremio
Enterprise Software · Unicorn
$2.0B
BillionToOne
Health · Unicorn
$4.0B
Exabeam
Security · Unicorn
$2.4B
Yipes
Security
$300M
Vast Data
Enterprise Software · Decacorn
$30B
SetPoint Medical
Health
$460M
Dave.com
Fintech · Unicorn
$4.1B
Avalyn Pharma
Health · Unicorn
$1.4B
Quikr
Telecom
$577M
SK Finance
Fintech
$639M
Knotel
Real Estate
$70M
Wiliot
Semiconductors · Unicorn
$1.0B
Innovium
Semiconductors · Unicorn
$1.1B
Casper
Home Living
$286M
Rain
Fintech · Unicorn
$1.9B
LendingClub
Fintech · Unicorn
$1.3B
Zenoti
Wellness Beauty · Unicorn
$1.5B
Zenas BioPharma
Health · Unicorn
$1.6B
Tempo
Sports
$880M
Fungible
Enterprise Software
$190M
FloQast
Fintech · Unicorn
$1.6B
Vastu Housing Finance
Fintech · Unicorn
$1.2B
Minted
Media
$800M
Fabric
Marketing · Unicorn
$1.5B
Crossover Health Management Services
Health
$672M
MindTickle
Marketing · Unicorn
$1.2B
Policygenius
Fintech
$400M
Enable
Marketing · Unicorn
$1.1B
Udemy
Education
$327M
Mintifi
Fintech
$750M
Pepperfry
Telecom
$78M
Kustomer
Enterprise Software
$300M
Finova Capital
Fintech
$540M
Bluecore
Marketing · Unicorn
$1.0B
Kayak
Travel · Unicorn
$1.8B
Galvanize Therapeutics
Health
$400M
Health Catalyst
Health
$194M
Ray Therapeutics
Health
$500M
06 · Portfolio founders

Where Norwest Venture Partners’ portfolio founders come from.

177 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. United States111
  2. India30
  3. Israel13
  4. United Kingdom4
  5. Netherlands3
  6. Argentina2
  7. China2
  8. Singapore2
  9. Australia1
  10. Canada1
UniversityCount
  1. Stanford University10
  2. Tel Aviv University8
  3. Columbia University6
  4. Indian Institute of Technology, Madras6
  5. Indian School of Business6
  6. Technion Israel Institute of Technology5
  7. University of California, Berkeley5
  8. Birla Institute of Technology and Science, Pilani4
  9. Harvard University4
  10. Indian Institute of Management, Calcutta4
Previous companyCount
  1. Microsoft12
  2. Salesforce7
  3. McKinsey & Company6
  4. Stanford University6
  5. Alphabet | Google5
  6. IBM5
  7. Square5
  8. Cisco4
  9. Cognitive Security4
  10. SumTotal Systems4