President Joe Biden has put forth the nomination of Deven J. Parekh, a prominent Indian American venture capitalist, for a renewed three-year term on the Board of Directors of the US International Development Finance Corporation (IDFC). The nomination, sent to the Senate, follows Parekh’s initial appointment by President Donald Trump in June 2020.
As the Managing Director at Insight Partners, a New York-based growth equity investment fund, Parekh has made over 140 investments globally in enterprise software, data, and consumer internet businesses since joining in 2000. His extensive portfolio spans regions such as North America, Europe, Asia, the Middle East, Africa, Latin America, and Australia.
Apart from his role at Insight and with the Development Finance Corporation, Parekh holds board positions with organizations like the Council on Foreign Relations, the Carnegie Endowment for International Peace, the Tisch New York MS Research CenterNYU Langone, and the Economic Club of New York. He has previously served on the boards of the Overseas Private Investment Corporation and the Advisory Board of the US Export-Import Bank.
Parekh, recognized with the Robert F. Kennedy Ripple of Hope Award in 2021, also serves as Chairman Emeritus of the Board of Publicolor, a nonprofit dedicated to New York City public schools. A Henry Crown Fellow of the Aspen Institute, Parekh’s professional journey includes roles at Berenson Minella & Company and Blackstone, where he engaged in M&A and investment activities. His academic background features a BS in Economics from the Wharton School at the University of Pennsylvania.
In line with statutory requirements, the IDFC Board of Directors includes four members recommended by Senate and House leadership. Parekh is the nominee endorsed by the Senate Majority Leader.
