Tuesday, September 23, 2008

NVP Expands In Israel

Palo Alto-based venture firm Norwest Venture Partners (NVP) said today that the firm has hired on a new partner in Israel. According to the firm, Dror Nahumi has joined the company as part of a expansion of its global strategy. Nahumi has previously served at ECI, where he was EVP and Chief Strategy Officer. He is a board member of Veraz Netwroks, and has previusly served at Axonlink, I-Link, and AT&T. Nahimu was also the founder of MiBridge, which was acquired by I-Link. Norwest said that it now plans to invest more heavily in Israeli technology companies, as well as co-investing with local Israeli venture capital firms. NVP already holds stakes in Israeli firms ConteXtream, DoubleFusion, Veraz Networks, Unisfair and Timebridge, and was an investor in Qumranet.