Kal Patel (pictured), a former managing partner of US retailer Best Buy’s corporate venturing unit, has joined venture capital firm VantagePoint Capital Partners to help it expand in Europe and work with strategic partners.
Patel had been made managing partner of Best Buy Capital in late 2008 before becoming president of the company’s Asia operations last year.
With $4.5bn under management, US-based VantagePoint invests in clean-tech, information technology, healthcare and Asia and its strategic partners include Best Buy, Air Products, BP, Calcef, DuPont, Jabil, McBee Strategic, P&G, Scottish and Southern Energy and Schlumberger.
VantagePoint has just teamed up with Schlumberger to invest $22m into US-based Liquid Robotics, which develops devices for oil spills.