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Norwest across the U.S. Founded in 1961, Norwest Venture Partners has since expanded its investment capital to $850 million. 300 IT and healthcare companies have benefited from Norwest investments, including Documentum Inc., PeopleSoft Inc., Raptor Systems, Inc., Tivoli Systems, Inc., Vantive Corp., and Xylan Corp. Investment strategy: stage-independence Norwest describes itself as a "stage-independent" investor, meaning the firm funds companies at every stage in the financing process, from seed to expansion stage. Generally, the firm invests between $10 and $15 million over the life of an investment, but will invest as much as $25 million. The company can also make varying initial investments as small as $1.5 million. Notable in the portfolio Norwest formerly divided investments into five categories (software, communications, electronics, health care and consumer-related ventures). However, like many other venture capital concerns, Norwest decided in 1999 to focus only on information technology, which it divided into three sub-categories: communications services, communications systems and software and e-commerce. The software and e-commerce portfolio includes investments in Rates.com, Sequencia Corp. and techies.com. The communications systems portfolio boasts companies such as 3Dfx Interactive, PolyCom and RF Micro Devices. Finally, the communications services portfolio includes Advanced TelCom Group, Digital Access and Optiglobe. One of Norwest's 1998 investments, Cerent Corp., was sold to Cisco Systems for $6.9 billion in 1999. Other recent investments of note include eFORCE, Escalate Inc., Accord Telecommunications and Omneon Video Networks. Palo Alto partners The firm's Palo Alto office is led by three general partners: Kevin Hall, Promod Haque, and George Still, Jr. Kevin Hall, a Stanford MBA and Purdue grad, arrived at the firm after five years at Brentwood Associates Venture Capital. Focusing on IT at Norwest, Hall has invested in Xylan Corp, Vantive Corp, and Documentum Inc., among others. Promod Haque has also made key IT investments for Norwest along with investments in communications ventures such as Advanced Fibre Communications and Corsair Communications. Haque holds a Ph.D. and MBA from Northwestern. George Still, a Penn State and Tuck grad, focuses on telecommunications systems and services. Ernest Parazeau, a Dartmouth MBA, heads the Boston office and focuses on communications, software, and semiconductor companies. John Whaley, in Minneapolis, holds an MBA from the University of St. Thomas and works with consumer-directed businesses.
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Areas of Investment; Communications Services; Communications Systems; Software & E-Commerce Portfolio Includes; 3Dfx Interactive; Agile Networks; Atlantic Cellular; Broadband Access Systems; Brooks Fiber Properties; Embark.com; GetThere.com; Market-Touch; Object Stream; Octane Software; Primus Knowledge Solutions; Summit Microelectronics; Transit Communications; VIA Internet; Xedia Corporation More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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