New Enterprise Associates India (NEA India), a global affiliate of the USD 11bn venture capital firm, has appointed A P Parigi as Advisor for its operations in India.
Commenting on the appointment, Bala Deshpande, Senior Managing Director, NEA India, said, “With his unique industry experience spanning 23 years in traditional economy sectors like construction, infrastructure and manufacturing and then almost two decades of pioneering leadership in new age technology-led sectors, Mr. Parigi will augment the India team substantially. His experience of creating winning businesses in emerging sectors from the ground-up stage can add significant value to our company building expertise for the portfolio companies we source and help build for the NEA Investment funds.”
Parigi has 35 years of experience spanning across several sectors, including telecommunications, media and entertainment. He has held key positions in Associated Cement Companies Ltd, Batliboi & Company Limited and later as the CEO of BPL Mobile Communications (a JV with France Telecom), Mumbai. He is credited with developing and establishing Radio Mirchi into a power brand across 32 cities and broadcasting in 10 languages. He was MD and CEO of Entertainment Network India Limited (Radio Mirchi) from 2000 to 2007.
He is a member of the Board of Directors of Bennett, Coleman & Co Ltd. He also serves on the Boards of Times Innovative Media Ltd (OOH), Times Global Broadcasting Co Ltd (Times Now) and Worldwide Media (a JV with the BBC).
In April 2009, Parigi was the first non American recipient of the Rensselaer Entrepreneur of the year Award conferred by the Severino Center for Technological Entrepreneurship in the Lally School of Management & Technology, New York. In June 2010, he joined the business advisory council of the Said Business School (Oxford University), UK. He is also on the advisory board of the Fordham Graduate School of Business, Fordham University, New York.
NEA is a leading venture capital and growth equity firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. NEA's investments in India will primarily be in the mid-market growth space with deal sizes upwards of $10 million. This would include opportunities driven by emerging secular trends such as growing urbanisation, unorganised to organised industry structures and plays focused on emerging new services.