Bengaluru: Former Wipro chief executive and managing director Abidali Neemuchwala has joined Dallas Venture Partners (DVP) as venture partner, as the Texas-based investment firm looks to ramp up investments in India. DVP on Monday said it will be investing $300-500 million in startups in the country over 10 years. DVP plans to focus on early stage and growth stage startups working on cloud infrastructure, artificial intelligence/machine learning (AI/ML), mobile and emerging technologies. DVP aims to benefit from Neemuchwala’s expertise in IT services and digital transformation as he led the $8-billion IT services company Wipro Ltd.“Neemuchwala has been a statesman of the IT services industry and a thought leader advising global CXOs on digital transformation. DVP has so far invested in 21 startups globally with multiple exits and with a combined portfolio enterprise value of more than $1 billion.

Source: Mint September 14, 2020 14:10 UTC