Norwest Venture Partners XII, LP

Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.

Reported portfolio value by quarter (8 quarters reported)

$258M $46M

Q4 19 Q2 20 Q4 21 Q2 22 Q3 22

$102M in Q4 2019 → $75.4M now. Hover for any quarter.

Holdings

As reported for the quarter ended September 30, 2022. Activity is the change in share count since the prior quarter's filing.

Holding	% of portfolio	Activity	Shares	Value
Udemy Inc	99.9%	Trimmed 33%	6,229,466	$75.3M
Digital Brands Group Inc	0.1%	Unchanged	796,981	$75K

What changed each quarter, from the filings' own share counts. Largest moves first; most recent 7 quarters.

quarter ended September 30, 2022 · filed November 09, 2022

Company	Action	Shares changed	Value of change	% of portfolio
Udemy Inc	Trimmed	−3,114,734	−$37.7M	99.9%

quarter ended June 30, 2022 · filed July 27, 2022

Company	Action	Shares changed	Value of change	% of portfolio
Udemy Inc	Trimmed	−3,114,734	−$31.8M	99.8%
Digital Brands Group Inc	Added	+132,830	+$25.8K	0.2%

quarter ended March 31, 2022 · filed May 16, 2022

Company	Action	Shares changed	Value of change	% of portfolio
CS Casper Sleep Inc.	Exited	−1,940,576	−$13M	—

quarter ended December 31, 2021 · filed February 14, 2022

Company	Action	Shares changed	Value of change	% of portfolio
Udemy Inc.	New	+12,458,934	+$243M	94.4%
Health Catalyst, Inc.	Exited	−876,045	−$32.1M	—
Digital Brands Group Inc.	New	+664,151	+$1.53M	0.6%

quarter ended September 30, 2020 · filed October 23, 2020

Company	Action	Shares changed	Value of change	% of portfolio
Health Catalyst, Inc.	Trimmed	−1,476,045	−$54M	69.7%

quarter ended June 30, 2020 · filed July 14, 2020

No position changes this quarter.

quarter ended March 31, 2020 · filed July 14, 2020

Company	Action	Shares changed	Value of change	% of portfolio
Health Catalyst, Inc.	Trimmed	−600,000	−$15.7M	88.1%
CS Casper Sleep Inc.	New	+1,940,576	+$8.33M	11.9%

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