After a decade-long break from investing in health-care companies, Norwest Venture Partners is jumping back in after watching other firms retreat from the cash-intensive sector, Managing Partner Promod Haque said.
“There’s a paucity of capital” going into medical-device and other health-care start-ups, he said. “It’s so capital-intensive that VCs are thinking twice or thrice about getting involved. It’s a very good opportunity for firms that have a larger fund.”
Norwest, more frequently associated these days with social gaming hits like Ngmoco Inc. and Playdom Inc., will make health-care investments from its $1.2 billion 11th fund, NVP XI, which the firm raised last year, Haque said.
To read the full, original article click on this link: Norwest Backs Health Care Again After 10-Year Break - Venture Capital Dispatch - WSJ
Author: Timothy Hay
