Parag is a co-founder of Vedanta Capital. He is also a co-founder and member of the Investment Committee of New Silk Route Partners (“NSR”), a $1.3 billion fund investing in Asia. Parag has 28 years of professional experience and 25 years of investment experience. In 1983, Parag joined Citicorp Investment Management, which was spun out in 1988 to become Chancellor Capital Management, and was eventually acquired by Invesco in 1998.
He was the Managing Partner and a founder of Invesco Private Capital (“IPC”) where he was responsible for both direct and fund of funds investment activities. Parag led IPC to over $8 billion in peak assets. During his tenure, the firm made over 400 partnership investments and 300 direct investments that achieved top quartile performance.
He led more than 80 investments for IPC, a third of which went public. He led IPC’s investments in, among others: Alkermes (ALKS), Amber Networks (NOK), ARM Holdings (ARMH), Celgene (CELG), Genomic Health (GHDX), Indigo (HPQ), Masimo (MASI), MetroPCS (PCS), Volterra (VLTR) and Xenon Genetics.
Parag’s career began in 1978 at Becton Dickinson as a product manager. He was later recruited by Booz, Allen and Hamilton to join their Technology Management Services Group, focusing on business strategy development.
Parag serves on the Foreign Direct Investment task force reporting to the Prime Minister of India as well as the Committee on Venture Capital and Innovation for the Government of India. Parag received an MBA from the Wharton School of the University of Pennsylvania in 1982. He earned a B.Tech from The Indian Institute of Technology, Bombay, in 1977, and an MS in Chemical Engineering from the West Virginia College of Graduate Studies in 1978.