Early Life
Romesh T. Wadhwani was born in Karachi, Pakistan, shortly after the partition of India in 1947. His family, of Sindhi origin, moved to India. Despite contracting polio at age two, which caused difficulties in school admission, he excelled academically. He earned a bachelor's degree from the Indian Institute of Technology Bombay (IIT Bombay) and later pursued a master's and a Ph.D. in electrical engineering from Carnegie Mellon University.
Rise to Success
Wadhwani's career is marked by his entrepreneurial ventures in the technology sector. He founded American Robot Corporation and Compu-Guard Corporation. A significant achievement was founding Aspect Development, Inc., a software firm that was acquired by i2 Technologies for $9.3 billion in stock in 1999. Wadhwani currently leads Symphony Technology Group (STG), a private equity firm focused on software, Internet, and technology services companies. He has built over 40 successful technology companies during his career.
Key Business Strategies
Wadhwani's success stems from his strategic approach to building and investing in technology companies. He focuses on recruiting talent and technology, positioning himself as a long-term strategic investor rather than seeking short-term profits. His ventures span across various sectors, including consumer-packaged goods, healthcare, and financial services. He is known for building great companies, which he believes leads to great valuations.
Philanthropy
Wadhwani is a dedicated philanthropist, giving back to the community. He established the Wadhwani Foundation in 2000 with the primary mission of accelerating economic development through job creation. The foundation focuses on initiatives in entrepreneurship, small business growth, innovation, and skills development, particularly in India and other emerging economies. Wadhwani has pledged to give away 80% of his wealth during his lifetime. He supports startups and education initiatives and has committed over $30 million to the Wadhwani Institute for Artificial Intelligence in Mumbai.
