Nagraj Kashyap has agreed to join the venture capital arm of Microsoft, after spending the last 12 years leading Qualcomm Ventures.

Fortune had reported last Friday that Kashyap was leaving Qualcomm QCOM , but only knew that his next role would be “with another corporate investment arm.” A source tipped us off earlier this morning that he was headed to Microsoft Ventures MSFT , and Kashyap confirmed via text message.

Microsoft Ventures is known not only for investing in early-stage technology companies, but also for its global accelerator programs. This makes a good fit with Kashyap, who helped create a robotics accelerator at Qualcomm and launched a global business plan competition called the QPrize.

While with Qualcomm Ventures, Kashyap’s investments included Brain Corp., Sotera Wireless, Magic Leap, Airvana, Avaak, Bitfone (acquired by HP), Clicker (acquired by CBS), Gaikai (acquired by Sony) and Novarra (acquired by Nokia).

Additional reporting by Stacey Higginbotham.