Dallas Venture Capital seeks to break down boundaries when it comes to investing in early stage startups.
With an office in Irving and another in Hyderabad, India, the venture capital firm has raised $80 million for its second flagship fund. And while it is in the process of raising its first India-focused fund, Dallas Venture Capital has already started rolling out funds in multiple countries.
“DVC plans to invest alongside its India fund, making it a true cross-border venture capital fund that is about to start two major start-up ecosystems in the US and India,” wrote the company in a press release.
Deployment of $130 million over the next four to five years
For its Dallas Venture Capital Fund II LP, the company surpassed its original goal of $5 million by attracting investors including Gupta Capital Group, NewcrestImage Ventures, Eternal Lotus Capital Partners and Bioworld Merchandising. Also planning to funnel capital to early-stage and growth-stage B2B SaaS startups, the DVC India Fund 1 secured $25 million of its $50 million goal.
Dallas Venture Capital is already helping fuel the growth of tech startups with its new fund. Its first fund investment of $80 million saw the company join an $8.5 million funding round in Austin’s recreational vehicle market Gaiety last March. He followed that up in May by leading a $3 million Series A round, which officially closed in January, at the Minneapolis-based AI management startup. Lucy. And late last year, Dallas Venture Capital co-led a $13m Series B funding round for an Indian workforce training startup. Disprz, alongside Mars Growth Capital. This year, the company and Cerium Technology Ventures co-led a $5 million Series A funding round for the Cityliticsa data and intelligence platform for the infrastructure sector.
According to the VC Circle website, Dallas Venture Capital’s Indian fund has also invested in Disprz, in addition to leading a $650,000 “pre-Series A round” in an Indian anti-money laundering startup. IntelleWings.
Overall, Dallas Venture Capital said it plans to deploy the two funds’ collective $130 million over the next four to five years, investing in about 20 to 25 companies at the rate of about one per quarter. . Focusing on B2B SaaS companies working in emerging tech spaces like AI, machine learning, and extended reality, Dallas Venture Capital says it’s focused on writing checks between $2 million and $5 million, primarily in fir post-market product companies, with follow-on investments of up to a total of $10 million. Dallas Venture Capital co-founder and director Abidali Neemuchwala added that his firm is looking to grow business revenue from around $1 million to $10 million.
The Dallas Venture Capital “advantage”
To help do that, Dallas Venture Capital does more than provide funding to startups. Launched early last year, the company’s DVC Advantage program provides its portfolio companies with “strategic guidance” in areas including product strategy, corporate governance, business development and acquisition. of talent.
“The ‘advantage’ for DVC and its stakeholders begins with its partners, venture partners, fund partners, operating partners and the vast network of advisors who bring an insurmountable advantage to our portfolio companies “said general manager Dayakar Puskoor in a post on LinkedIn.
Relaunch with a new chef
Formed in 2020, Dallas Venture Capital is the revival of former Irving and India-based venture capital firm Naya Ventures, of which Puskoor was a co-founder. At its inception, the company went through Dallas Venture Partners and brought in Neemuchwala, the former CEO and managing director of Indian IT company Wipro, as a venture capital partner. Since then, the name of the company has changed, as well as the title of Neemuchwala. According to the Dallas Venture Capital website, the company has 14 companies in its portfolio and has completed seven exits.
“Dallas is quickly becoming a hotbed of innovation and incubation, but needs help accelerating time to market,” Puskoor said when launching Dallas Venture Capital. “DVP will use our proven philosophy to ‘invest, engage, collaborate, grow and exit’ to fund market acceleration and increase the odds of success through its extensive network of advisors who provide unparalleled mentorship to startups.”
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