TPG Ventures names partner

Vivek Paul is joining the private equity firm from Wipro, India’s third-largest software exporter and a large outsourcing player.

San Francisco-based private equity firm Texas Pacific Group named Vivek Paul as a partner in the firm’s venture funds, focusing largely on the technology and life sciences sectors.

Paul was formerly the president and chief executive officer of Wipro Technologies, a Bangalore, India-based software and outsourcing company. The company had revenues of $1.4 billion through last year.

Wipro is reportedly the third-largest software exporter in the subcontinent and was able to increase revenues in recent years as American companies have increasingly outsourced IT work to India.

“With our multiple investment funds, Vivek will be able to leverage his strengths across venture start-ups, leveraged buyouts, growth investment and turnarounds, both in Asia and globally,” William Price, a founding partner at Texas Pacific Group, said in a statement.

Before joining Wipro six years ago, Paul worked with Boston-based strategy consulting firm Bain & Company, as well Pepsico’s M&A department and GE’s Global CT Scanner concern. He received his bachelor’s degree in engineering from B.I.T.S. in Pilani, India and an MBA from the University of Massachusetts at Amherst.

Texas Pacific Group was founded in 1992 by David Bonderman, Jim Coulter and Price. Along with their Asia-focused Newbridge Capital affiliate, the firm has more than $20 billion under management. The firm’s venture capital arm, TPG Ventures, invests in the information technology, biotechnology and consumer products sectors, usually with investments of between $10 million and $20 million.

In addition to its San Francisco base, TPG has offices in San Francisco, New York, London, Hong Kong, Mumbai, Seoul, Melbourne and Tokyo.