TechCrunch says Norwest raises $4 billion fund to deepen AI investing

Norwest, a firm backed solely by Wells Fargo, has raised a $4 billion fund, its 18th and the largest in the 65-year-old multi-stage investment firm’s history. The fund will be invested across various sectors and multiple countries, notably the United States, India and Israel. Norwest said Thursday that AI is a major focus, and it plans to back early-stage companies building AI-native applications and infrastructure, along with physical AI, voice AI, agentic cybersecurity and aerospace.