Indian American Venture Capitalist Deven Parekh Nominated to Development Finance Corporation Board of Directors

President Joe Biden has nominated Indian American venture capitalist Deven Parekh to be a member of the Development Finance Corporation Board of Directors. He is currently Managing Director at Insight Partners, a growth equity investment fund based in New York City. “Since joining the company in 2000, Parekh has made more than 140 investments in enterprise software, data, and consumer internet businesses globally, including in North America, Europe, Asia, the Middle East, Africa, Latin America, and Australia,” the White House said in a press release announcing the appointment. 

In addition to his work at Insight, Parekh serves as a Board Member for the Council on Foreign Relations, the Carnegie Endowment for International Peace, NYU Langone, the Tisch New York MS Research Center, and the Economic Club of New York. He has previously served on the Board of the Overseas Private Investment Corporation, the Advisory Board of the U.S. Export-Import Bank, and a Technical Advisory Council of the Federal Communications Commission. He is Chairman Emeritus of the Board of Publicolor, a non-profit organization focused on New York City public schools.

He received the Robert F. Kennedy Ripple of Hope Award in 2021. He is also a Henry Crown Fellow of the Aspen Institute. Before joining Insight, he was a Principal at Berenson Minella & Company, a New York-based merchant banking firm, where he served on the M&A Committee. He also worked for Blackstone on M&A and other investment activities. Parekh has a B.S. in Economics from the Wharton School at the University of Pennsylvania.

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“By statute, the Development Finance Corporation Board of Directors includes four members recommended to the President from Senate and House leadership,” the White House said, adding that “Parekh is the nominee recommended by the Senate Majority Leader.”