Last May, we told you how Dallas Venture Capital aims to eliminate borders when it comes to investing in early-stage startups in multiple countries.
This month, DVC took a big step in that direction when it made two announcements: its partnership with T-Hub, a leading innovation hub and business incubator based in Hyderabad, India; and the official launch of the DVC India Fund.
With an office in Irving and another in Hyderabad, India, Dallas Venture Capital raised $80 million for its second flagship fund last May. At the time, it was already in the process of raising its first India-focused fund and had begun making investments in companies in Texas, Toronto, and India.
“2023 is going to be a tough macro-economic environment, but global enterprises are at an early stage of the digital transformation journey,” Dallas Venture Capital Co-Founder and Director Abidali Neemuchwala said at the DVC India Fund launch event in Hyderabad, according to Entrepreneur. “Hence, at DVC, we’re very optimistic about startups helping enterprises digitally transform and solving real-world problems for them. We aim to help these startups scale their growth and reach a global forum of investors and advisors.”
Both Neemuchwala and DVC Co-Founder and Managing Director Dayakar Puskoor appeared at the Hyderabad launch event.
New fund is targeting startups in India for global scaling
The goal of DVC’s India Fund is to identify promising startups in India that have the potential to scale globally.
In the last 12 to 24 months, the fund has invested in five India-based startups, Entrepreneur reports, including Disprz, and AI-powered upskilling platform; IntelleWings, an anti-money laundering solutions plataform; VuNet, a transaction analytics and monitoring platform; BluSapphire, a cloud-native cybersecurity platform; and Hippo Video, which offers AI-powered interactive videos to scale personalized outreach.
T-Hub CEO Srinivas Rao Mahankali lauded his company’s new partnership with Dallas Venture Capital at the fund’s launch event.
“With our strategically planned partnership with DVC, we’re hopeful that startups will get an opportunity to learn from DVC’s vast pool of mentor experts, access to networks and elite resources,” Mahankali said at the event, according to Entrepreneur. “This will prove to be immensely helpful for the founders with assistance in refining their IT infrastructure efficiency and scaling their businesses to grow the customer base.”
Investments in the U.S. and Canada as well
Dallas Venture Capital isn’t just investing in companies in India—as we noted above, the VC firm believes in eliminating borders when it comes to investing. Its other investments include joining an $8.5 million funding round in Austin recreational vehicle marketplace Rollick in March 2021; leading a $3 million Series A round for Minneapolis AI management startup Lucy in May 2021; and co-leading a $5 million Series A round in 2022 for Toronto’s Citylitics, a data and intelligence platform for the infrastructure industry.
DVC’s website currently lists 18 companies in its total portfolio, along with seven exits: Altia Systems, Boxfish, Felix Healthcare.ai, LAVU, Motivity Labs, and SinglePoint.
“Dallas is fast becoming a hotbed for innovation and incubation but needs help with go-to-market acceleration,” Puskoor said at the time of the firm’s launch, adding that DVC planned to “utilize our time-tested philosophy to ‘invest, engage, collaborate, grow, and exit’ to fund the market acceleration and increase the odds of success through its extensive network of advisors that offer unparalleled mentorship to startups.”
For much more about Dallas Venture Capital, see our story here.
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