Former Wipro chief joins DVP as partner

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.

It will invest in transactions with deal sizes of $2-10 million in startups that have already clocked $1 million in revenue and can scale up to $10 million.