Norwest Venture Partners, an independent venture capital and growth equity investment firm backed by US bank Wells Fargo, has closed its sixteenth fund at $3bn and hired Tiba Aynechi as a general partner on the healthcare team.
Aynechi, a former GCV Rising Stars award winner, will start at Norwest next month after 11 years at Denmark-based healthcare group Novo’s corporate venturing unit.
Her addition follows last year’s hire of Dave Zilberman as Norwest’s newest general partner on the enterprise team from his managing director role at Comcast Ventures.
For its latest fund, Norwest said it would continue to invest across stages in across consumer, enterprise and healthcare sectors from offices in North America, India and Israel.
Since its last $2bn fund closed in November 2019, Norwest has made new investments in more than 60 companies, including Classy, Dave, Devoro Medical, Fabric, Faire, Icon, Qualified, Upside Foods and VanMoof, and exited 29 portfolio companies.
Norwest Venture Partners XVI takes the firm’s total capital under management to $12.5bn.
