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Former Wipro CEO Neemuchwala joins US-based VC firm

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

Neemuchwala has joined as a venture partner, the VC firm said in a statement.

Dayakar Puskoor, founder and managing director of Dallas Venture Partners, said Neemuchwala’s experience in business and technology as well as his extensive network will benefit the startup ecosystem globally.

Wipro had appointed Neemuchwala as group president and chief operating officer on April 1, 2015. He was promoted as the CEO the following year. He resigned in January this year citing “family commitments”.

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

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

Naya Ventures has invested in 21 companies to date including recently in US-based enterprise technology startup CoreStack. All of its portfolio companies are US-based, with some having a back office or a sales office in India.

Dallas Venture Partners said its pre-existing version was a venture capital platform that successfully invested in 21 startups with multiple successful exits.-VCCiRCLE

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