PE firm DVC announces closure of $80 million fund


Bengaluru

Dallas Venture Capital (DVC), founded by serial entrepreneur Dayakar Puskoor and co-founded by Abidali Neemuchwala, former CEO of Wipro, has announced the closure of an oversubscribed $80 million fund.

The firm said it would invest $130 million in B2B SaaS start-ups over the next 4-5 years, in its effort to become a significant player among technology focused funds.

DVC is currently in the process of raising a separate $50 million fund for India, DVC India Fund 1. It’s DVC US Fund II, will invest alongside its India fund, making it a true cross-border venture capital firm, as per the company.

“We partner with portfolio companies as mentors offering strategic guidance during the most important phase of the start-up’s journey to accelerate their revenues from $1 million to beyond $10 million,’‘ said Abidali Neemuchwala Co-founder & Director of DVC.

DVC funds focused on early and growth-stage companies in B2B SaaS sector that leveraged on deep tech in the areas of cloud, AI/ML, XR, Data, and other emerging technologies with infrastructure software or industry vertical focus, the venture firm said..

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