Dallas Venture Capital Closes $80 Mn Early-Stage B2B SaaS Fund II, To Raise $50 Mn For Indian Startups
- ByStartupStory | May 26, 2022
Dallas based early-stage venture fund, Dallas Venture Capital is raising a separate fund in India worth $50 Mn from local investors despite closing its main fund in the US. The venture capital’s main firm in the US,closed $80 Mn in early stage B2B SaaS fund II which is higher than the targeted $75 Mn corpus.
Launched in September 2020 by Dayakar Puskoor and former Wipro CEO Abidali Neemuchwala, it has invested in 27 startups across India and the US. Its philosophy as it says is investing and getting into partnerships with startups and catalyzing their sprint into success. With its office in Hyderabad in India and another in Irving,Dallas has already begun deploying money in many other countries to raise its first India-focused fund.
“DVC USA plans to invest alongside our $50 million DVC India Fund I, making us a true cross-border VC poised to bootstrap two large start-up ecosystems in the US and India with a combined deployment of approximately $130 million over the next 4-5 years,” said the Managing Director Dayakar Puskoor.
A reboot of Naya Ventures, a Dallas, Texas-based VC firm that was launched in 2011,Dallas Venture capital fund II has already made four bets-Rollick,Lucy.ai,Citylitics,Disprz which provides solutions to original equipment manufacturer (OEM) manufacturers,AI personal assistant for businesses,helps stakeholders, identify and pursue sales opportunities respectively.
The firm earlier surpassed its initial target by$5Mn for the DVC fund II LP, it also attracted many investors like NewcrestImage Ventures, Eternal Lotus Capital Partners,Gupta Capital,and Bioworld Merchandising.
It has already started helping fuel the tech startups with its new fund.
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