Insight MD to be named to International Development Finance Corporation board.
President Donald Trump has tapped yet another Indian American for a key position in his Administration.
His intent to nominate Deven Parekh. a Managing Director at software investment firm Insight Partners, as a member of the Board of Directors of the International Development Finance Corporation, was announced by the White House Friday. He will serve for a term of three years.
Parekh previously served on the Overseas Private Investment Corporation Board from 2016-2018 and was a Member of the Advisory Board of the United States Export-Import Bank from 2010-2012.
A leading Indian American global venture capitalist, Parekh received his BS in Economics from the Wharton School at the University of Pennsylvania.
Last month, Parekh co-hosted a virtual fund raiser for Republican President Trump’s Democratic rival in the White House race, former vice president Joe Biden. Parekh was also a major fund raiser for former Democratic President Barack Obama.
He has held a number of positions at Berenson Minella & Company between 1992 and 2000, including those of principal and vice president. Previously, from 1991 to 1992, he was a financial analyst for the Blackstone Group.
As managing director at Insight Partners, Deven Parekh manages investments in application software, data and consumer internet businesses globally.
He has actively worked for investments in Europe, Israel, China, India, Latin America, and Russia. In India, among others, he has invested in BharatPe.
Like his predecessors Presidents Bill Clinton, George Bush and Obama, Trump too has named several Indian Americans for key jobs.
Earlier this week he nominated career diplomat Geeta Pasi as the new US ambassador to Ethiopia. His other previous picks include Seema Verma, Administrator of the Centers for Medicare and Medicaid Services and Rita Baranwal, Assistant Secretary of Energy (Nuclear Energy).