Technology-focused venture firm Norwest Venture Partners has hired Dror Nahumi as partner focusing on Israel.
Nahumi’s hire will aid NVP as it increases its focus on Israel, according to a statement from the firm. NVP plans to augment its level of investment in Israeli technology in the coming years and co-invest with local venture capital firms in Israel.
The firm's first Israel-focused executive is temporarily managing Norwest's Israeli investments from the US before transitioning to local operations in Israel, a company spokeswoman told PEO. Norwest is currently seeking office space in Israel.
Nahumi was most recently chief strategy officer of networking infrastructure provider ECI Telecom. Before joining ECI, he was chief executive of optical components start-up Axonlink.
“Dror has the perfect combination of global operating experience having worked in the US for the last 16 years in senior executive management roles, and prior to that, in Israel,” NVP managing director Promod Haque said in a statement.
The firm has made a handful of Israeli investments over the last five years including enterprise software company Qumranet, broadband IP media services company ConteXtream and voice over IP company Veraz Networks. Nahumi has served on the board of Veraz since 2004 and is a board observer for ConteXtream.
NVP is based in Palo Alto, California with offices in Mumbai and Bangalore, India. In addition to the US and India, the firm pursues cross-border investments in Israel and China.
The firm pursues seed, early and select late-stage investments in technology sectors including: semiconductor and components, software, systems, services, internet, media and consumer.
NVP has more than $2.5 billion (€1.7 billion) in committed capital.