Norwest Preparing To Open New York Office: Sources


Norwest Venture Partners is apparently preparing to open a New York office, eager to expand its presence in the Big Apple’s Internet startup scene, sources say.

Details about the office’s location and its opening date are difficult to come by. But two sources indicate the firm is well into the planning for the new facility.

A Norwest spokeswoman had no comment.

The firm is only the latest venture outfit to open its doors in New York City. In 2011, Accel Partners put its nameplate at 11th and Broadway. Before that Canaan Partners settled into the concrete jungle after making investments there for several years.

Norwest has only had a modest presence in the city with investments such as Gilt Group, Quirky, 1010Data and Admeld, which was acquired by Google.

(UPDATED: This story was updated to include a no comment from a Norwest spokeswoman. The story had previously said the spokeswoman did not reply to an e-mail seeking comment.)

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