SAN FRANCISCO — Cooley advised Palo Alto-based Norwest Venture Partners on the formation of a $1.2 billion venture fund announced Tuesday.

The formation marks the half-century-old firm’s 12th fund, and brings Norwest’s total capital raised to $5 billion. The Cooley team was led by New York partner James Fulton and included partners Nicole Peppe and Webb “Bill” Morrow and associate Geoff Rapoport.