WASHINGTON (Diya TV) — Deven Parekh’s nomination has been confirmed by the Senate after the Indian-American was appointed by President Obama to serve on the board of directors to the Overseas Private Investment Corporation.
Obama nominated Parekh, who currently serves as the managing director at Insight Venture Partners, in Aug. 2014. He’s been with Insight since 2001. He is also a board member for Publicolor, after chairing the board of directors from 2007 to 2012.
The Overseas Private Investment Corporation, referred to simply as OPIC, serves as the U.S. government’s development financial institution. It seeks to mobilize private capital in the hopes of solving critical development challenges and advance the country’s foreign policy agenda.
OPIC currently supports U.S. private investment in more than 160 developing and post-conflict countries around the world in products that produce important economic, environmental and developmental benefits. The organization promotes revenue, job and growth opportunities throughout Europe, the Middle East as well as Africa and Latin America. Supported projects of the organization range from renewable resources in food, health, tourism, infrastructure microfinance and technology growth.
Parekh was a key fundraiser of both Obama’s presidential campaigns, and previously held a number of roles at Berenson Minella & Company between 1992 and 2000, including principal and vice president. He also served as a financial analyst for Blackstone Group from 1991-92. Additionally, Parekh has served as a member of the Technological Advisory Council of the Federal Communications Commission since 2011.
From 2010 to 2012, Parekh was a Member of the Advisory Board of the Export-Import Bank of the United States.