https://techcrunch.com/2024/04/25/norwest-venture-partners-raises-3b-for-17th-vehicle-maintaining-fund-size-despite-market-downturn/

Norwest Venture Partners, a 65-year-old firm backed solely by Wells Fargo, has raised its 17th fund at $3 billion.

That’s a noteworthy number, given that NVP last raised the same amount in December 2021. That was the peak of the venture boom, and at that time, the firm said it increased its capital pool by 50% (NVP’s 2019 fund closed at $2 billion) because it needed to stay competitive in the dealmaking environment where round sizes and valuations have climbed to unprecedented levels.