Norwest Venture Partners, one of Silicon Valley’s oldest venture capital firms, is bulking up its international team of venture investors, and predicts it will be highly active in 2013.
What does this mean for entrepreneurs?
NVP is interested in funding startups at all stages. The firm has about $2 billion under management in its current fund, and maintains a diversified portfolio. It made 30 investments in 2012.
Related: VCs were highly cautious in 2012 but plan to step up investments in 2013.
According to NVP’s Promod Haque, the partners are most excited about opportunities in health care IT, enterprise software, data networking, and “the infrastructure in general.” Haque is an investor in myriad enterprise security and health-tech startups, including CareCloud, Health Catalyst and FireEye.
After two decades at the firm, Haque was recently promoted to senior managing partner. Meanwhile, George Still, a tech veteran who is known for being the sole investor in PeopleSoft (acquired by Oracle for over $10 billion), will assume a less active role as a Partner Emeritus.
The firm has also promoted its enterprise and infrastructure lead Matthew Howard, and consumer technology-focussed investor Jeff Crowe to managing partner, and growth equity investor Sonya Brown to general partner.
With this new leadership, the firm expects to step up its investments in software-as-a-service (SaaS) startups in the coming year. “With enterprise spending going up,” said Haque by phone. “We’re continuing to grow the firm and invest in new areas.”
NVP is also investing about 20 percent of its fund in high-growth markets like Israel and India.