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Norwest’s New $4 Billion Fund Will Avoid ‘Shiny Objects’

Bloomberg Technology Thursday 12 November 2026, 10:00 UTC By Rebecca Torrence 1 min read
Key Points

EXCLUSIVE Startups Norwest’s New $4 Billion Fund Will Avoid ‘Shiny Objects’ Wells Fargo & Co.-backed Norwest has raised $4 billion for its latest fund aimed at investing in early-stage AI startups alongside deals in sectors the rest of the market has overlooked, the firm plans to announce Thursday. Norwest, which in its 65-year run has previously made bets on giants including Uber Technologies Inc. and Spotify Technology SA, manages $18 billion in assets, including the new money. It’s the...

EXCLUSIVE Startups Norwest’s New $4 Billion Fund Will Avoid ‘Shiny Objects’ Wells Fargo & Co.-backed Norwest has raised $4 billion for its latest fund aimed at investing in early-stage AI startups alongside deals in sectors the rest of the market has overlooked, the firm plans to announce Thursday. Norwest, which in its 65-year run has previously made bets on giants including Uber Technologies Inc. and Spotify Technology SA, manages $18 billion in assets, including the new money. It’s the firm’s 18th fund and and marks a sharp increase from its prior haul in 2024 of $3 billion.
Norwest (ORG) Wells Fargo & (ORG) Uber Technologies Inc. (ORG) Spotify Technology SA (ORG)
Originally published by Bloomberg Technology Read original →

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