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Investment Firm DVC Announces Close of $80 Million

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Investment Firm DVC Announces Close of $80 Million
28 May 2022
6 min read

News Synopsis

Dallas Venture Capital (DVC) announced on Wednesday that it will close its $80 million funds after it reported oversubscription. The investment company has launched another separate fund in India, the DVC India Fund 1, and has successfully raised $20 million from its $50 million targets.

DVC US Fund II plans to invest its $50 million in India fund to transform it into a cross-border venture capital fund that supports the US and Indian startup ecosystems. DVC plans to invest approximately $130 million in B2B SaaS (software as a service) startups through two funds over the next four to five years.

DVC was founded in 2020 by entrepreneur Dayakar Puskoor and co-founded by former Wipro CEO and veteran executive Abidali Neemuchwala. Shyam Penumaka, partner at DVC said that they are confident that both the funds, which are truly cross the border in nature, will emerge as significant contributors to the growth of Indian SaaS start-ups.

So far, DVC has invested in four startups, Lucy.ai, Rollick, Citylitics, and Disprz. DVC has a healthy corporate pipeline and will invest in an average of one company each quarter, or about 20-25 companies in total, over the next four to five years.