Former Wipro CEO Neemuchwala joining US-based VC organization

Abidali Z Neemuchwala, who left Indian software services firm Wipro Ltd as CEO and managing director earlier this yr, has joined US-based venture capital organization Dallas Venture Partners.

Neemuchwala has joined as a venture accomplice, the VC organization stated in a statement.

Dayakar Puskoor, founder and managing director of Dallas Venture Partners, stated Neemuchwala’s experience in enterprise and technology in addition to his extensive community will advantage the startup ecosystem globally.

Wipro had appointed Neemuchwala as institution president and leader running officer on April 1, 2015. He become promoted because the CEO the subsequent year. He resigned in January this year citing “family commitments”.

Dallas Venture stated it plans to awareness on early- and growth-stage investments in groups engaged in cloud infrastructure, artificial intelligence, machine learning, mobile and emerging technologies. It will generally invest $2 million to $10 million in a startup.

Puskoor is likewise general partner of venture capital organization Naya Ventures. He together with Prabakar Reddy (managing partner) and Gowri Shankar (venture partner) had founded Naya Ventures in 2011.

Naya Ventures has invested in 21 groups to date such as lately in US-based company technology startup CoreStack. All of its portfolio groups are US-based, with a few having a back office or a sales office in India.

Dallas Venture Partners stated its pre-present model was a venture capital platform that correctly invested in 21 startups with a couple of a hit exits.

It didn’t right away respond to a VCCircle email looking for to know if Naya Ventures will function independently or whether or not its portfolio might be delivered under Dallas Venture Partners.