Norwest Capital Raises $4 Billion Fund To Expand AI Investments

Norwest, a venture capital firm backed solely by Wells Fargo, has raised a $4 billion fund, its 18th and largest to date, to expand investments across multiple sectors and markets, including the U.S., India and Israel. The 65-year-old firm plans to increase its focus on AI startups developing solutions in consumer, healthcare and technology, with particular interest in physical AI, voice AI, agentic cybersecurity, aerospace, AI-native applications and infrastructure. Led by Senior Managing Partner Jeff Crowe, Norwest has made more than 87 investments since closing its previous $3 billion fund in 2024 and has backed companies including Plaid, Spotify, Uber and Vuori.

AMOUNT: $4,000,000,000

HQ: Menlo Park, California

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