Parag Saxena
Parag Saxena | |
|---|---|
| Born | April 27, 1955 |
| Alma mater | IIT Bombay (BTech) University of Pennsylvania (MBA) |
| Occupation | Venture capitalist |
Parag Saxena (Hindi: पराग सक्सेना; born April 27, 1955) is an Indian-Amaerican investment manager who is the co-founder and general partner of Vedanta Capital.[1] He had previously founded Invesco Private Capital, a subsidiary of Invesco. He also co-founded and is CEO of New Silk Route, an Asia-focused venture capital firm.
Early life and education
[edit]Saxena earned a B.Tech from the Indian Institute of Technology, an M.S. in Chemical Engineering from the West Virginia College of Graduate Studies and an M.B.A. from the Wharton School of the University of Pennsylvania.[2]
Career
[edit]Saxena started his career at Becton Dickinson as a product manager in 1978.[3] He joined Citicorp Investment Management in 1983;[4] the company became Chancellor Capital Management in 1988.[4] Invesco acquired the company in 1998, and Saxena became the managing partner and founder of Invesco Private Capital, a subsidiary of Invesco.[4] Over the course of four years, he was on Forbes Midas List.[5]
He spent 23 years at Invesco Private Capital.[6] He stepped down as managing partner of Invesco Private Capital in April 2006, with the New York Times noting many investors had been leaving the company, and quoting him as noting that conflict among management and lawsuits against Invesco had made it increasingly hard to raise funds.[7]
In May 2006, Saxena launched the New York-based diversified venture capital firm Vedanta, along with former Invesco executives Alessandro Piol and Howard Goldstein.[4] In 2007, a $275-million collateralized fund obligation (CFO), originally founded in 2004, was acquired from Invesco by Vedanta, making Vedanta a spin-out of Invesco.[4]
In 2006, he co-founded New Silk Route, an Asia-focused venture capital firm,[8] with Rajat Gupta and Raj Rajaratnam, as well as Mark Schwartz, a Goldman Sachs veteran who left New Silk Route in 2008.[6] Saxena is CEO of the company.[6] The fund closed to investors in late 2008.[6] Gupta filed a lawsuit against Saxena in 2013, alleging Saxena in 2012 started limiting his access to New Silk Route after Gupta had been sentenced in 2012 for securities fraud; the lawsuit was dismissed by a judge in 2013 for being irrelevant.[9]
Personal life
[edit]Saxena is married to Usha Saxena, and they have several children together.[10] In 2022 the couple gave $10 million to Brown University to expand the study of South Asia, and the university renamed its Center for Contemporary South Asia to the Saxena Center for Contemporary South Asia.[10]
References
[edit]- ^ Vedanta Capital
- ^ Parag Saxena page, NSR website. Retrieved 2011-03-10.
- ^ Parag Saxena-on Forbes' 2007 Midas List. Nriinternet.com. Retrieved on 2013-07-18.
- ^ a b c d e Weinstock, Suzanne (March 25, 2008). "Invesco spin-out raising $350m fund". Private Equity International. Retrieved May 19, 2025.
- ^ "#28 Parag Saxena". Forbes. January 29, 2009. Archived from the original on November 12, 2012.
- ^ a b c d Ghoshal, Devjyot (August 21, 2014), How to run a $1 billion fund after both your co-founders go to jail, Quartz, retrieved April 13, 2024
- ^ Richtel, Matt (April 20, 2006), "Venture capitalists find that when styles collide, companies can get hurt", The New York Times, retrieved April 13, 2024
- ^ Krishnan, Aarati. "'The question is how much venture capital India can absorb'". Business Line. The Hindu. Archived from the original on February 16, 2012.
- ^ Chitnis, Deepak (December 5, 2013), Rajat Gupta's lawsuit against Parag Saxena dismissed by court, American Bazaar, retrieved April 13, 2024
- ^ a b $10 Million Gift from Saxena Family to Expand the Study of South Asia, Brown University, February 23, 2022, retrieved April 13, 2024