Wipro's former vice chairman T K Kurien to now head Premji Invest

Premji Invest has invested in firms like Snapdeal, Lenskart and online insurance agent PolicyBazaar

Former Wipro vice chairman T K Kurien has been named as the managing partner and chief investment officer  (CIO) of Premji Invest, the over $1 billion investment arm of Wipro Chairman Azim Premji.

Kurien succeeds Prakash Parthasarathy, who plans to start his own startup, to run Premji Invest, which has invested in firms such as e-commerce marketplace Snapdeal, eyewear retailer Lenskart and online insurance policy agent PolicyBazaar.

"I am delighted to announce the appointment of T K Kurien as Managing Partner and CIO of Premji Invest. T K, with his decades of experience in running startups and established enterprises and deep financial acumen, is best positioned to take Premji Invest to the next level," Premji Invest Chairman Azim Premji said in a statement.

"Prakash has built an excellent organisation at Premji Invest as its founding CIO and leaves behind an impressive track record over the last decade, delivered with integrity and trust. I wish him the very best in his entrepreneurial journey," he added.

Kurien, who will retire from Wipro this month,  began his career in the company in 2000. He has held leadership positions across businesses like EcoEnergy division, WCS (Wipro Consulting Services) and healthcare and life sciences unit.

Before joining Wipro, Kurien served as managing director of GE X Ray from October 1997 to January 2000.

PremjiInvest has invested in over 40 firms, seen exits in three of them including Myntra and two firms went public, including Equitas Holdings.  The firm has made wrong bets in Subhiksha, the Chennai-retailer that went bust after initial hype due to mismanagement.