Norwest Venture Partners on Wednesday announced that it had closed a new venture-capital fund sized at $1.2 billion. That’s nearly double the size of the Silicon Valley venture firm’s last fund in 2006, which closed at $650 million.
The new fund is unusual in this day and age amid a tough fundraising environment brought on by the recession.
Interest in social gaming is jumping to new heights. One of the players in the space, Playdom Inc., just raised a giant-sized $43 million round from Lightspeed Venture Partners, New Enterprise Associates, Norwest Venture Partners and Rick Thompson, one of the co-founders and an existing angel investor in the company.
If anyone had doubts about the viability of a business that is purely focused on making videogame applications for Apple’s iPhone and iPod touch, venture capitalists aren’t among them. Ngmoco, known for iPhone games like puzzle-adventure game Rolando and word game WordFu, said on Monday that it raised $10 million in a new round of financing led by Norwest Venture Partners.
Competition is intensifying in the virtualization sector.
Red Hat (RHT) this morning announced an agreement to acquire Qumranet, an Israeli company that provides a virtualization software platform, for $107 million in cash.
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