Tue. Mar 19th, 2024

With an aim to expand its investment base in India, and to increase the ambit of opportunities across various domains, Norwest Venture Partners India will double its investments in the domestic market, and add more senior executives with a managing director, reported Mint.

Niren Shah, managing director and head at Norwest Venture Partners India, said that the investment firm is scouting for opportunities across sectors, including financial services, technology, internet, consumer, healthcare and logistics. Also, a top executive of the company expressed that Norwest Venture, which typically invests about $75 million a year in India, will henceforth write a minimum cheque of $7-8 million, which could go up to $50 million

Norwest Venture Partners was founded in 1961. The US-based firm is a venture and growth equity investment company with more than $7.5 billion (approx ₹53 crore) in capital under management.

“We will invest more in what has worked for us, and stay away from what has not. So, we will not do infrastructure deals, PIPE (private investment in public equity) or pre-IPO (initial public offer) deals,” Shah said.

According to Shah, the firm will strike a balance between investing in growth equity and the venture space.

In August 2019, the Norwest Venture Partners invested INR 56 crore in SILA, a real estate consultant to businesses with small and medium enterprises.

“Within the venture space, we will focus on companies like Swiggy, where we can be hopeful of significant return,” he added.

Shah further added and said that on its investments of nearly $700 million between 2008 and 2017, the firm recently offered proceeds of $1.1 billion or returns to its investors.

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