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Norwest Partner Sean Jacobsohn Discusses Investment Strategy in Enterprise Software
Key points
- Sean Jacobsohn invests in enterprise software, focusing on finance and HR.
- He targets companies disrupting legacy systems in crowded markets.
- Norwest manages $15.5 billion and recently raised a $3 billion fund.
- Jacobsohn evaluates a CEO's sales ability as a key investment criterion.
Investment Focus at Norwest
Sean Jacobsohn, a partner at Norwest, specializes in enterprise software investments, drawing on his background in finance, sales, and business development. His portfolio includes companies ranging from pre-revenue to those generating over $300 million in revenue, with a significant portion in finance and HR software, as well as supply chain and construction technology.
Targeting Legacy Disruption
Jacobsohn's investment strategy centers on identifying next-generation business applications that challenge entrenched providers struggling to innovate. He finds particular opportunity in finance, where companies have established software budgets but many categories are still dominated by aging systems. He notes that over 500 companies exist in the Office of the CFO market, with a large majority being legacy players.
Norwest's Financial Backing
Norwest, established in 1961, manages $15.5 billion in assets and is currently investing from its 17th fund, a $3 billion vehicle raised in 2024. The firm has supported over 700 companies across enterprise, consumer, and healthcare sectors.
CEO Sales Ability as a Key Metric
A critical aspect of Jacobsohn's evaluation process for potential investments is assessing a CEO's sales ability. This criterion is a significant factor he considers before committing to an investment.
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Reporting from
Sean Jacobsohn, a partner at Norwest, shared his investment focus on enterprise software, particularly in finance and HR, and his approach to evaluating startups. He looks for companies disrupting legacy players and emphasizes a CEO's sales ability before investing.