Dallas Venture Capital Announces Closing of $80M Fund for SaaS Startups

Bengaluru: Dallas Venture Capital (DVC) has raised $80 million for its second software-as-a-service (SaaS)-focused seed fund in the United States.

With that, it crossed its target corpus of $75 million.

DVC is also currently raising a separate fund in India, DVC India Fund I, to provide opportunities for Indian investors and has raised $20 million of its $50 million target, it said in a statement on Wednesday.

DVC India Fund has invested in business skills start-up Disprz and anti-money laundering start-up IntelleWings.

“Currently, the objective of DVC India Fund is to raise remaining capital from institutional investors, family offices and high net worth individuals willing to participate in India’s thriving B2B SaaS deep technology sector,” the capital firm said. -risk.

Founded in 2020 by serial entrepreneur Dayakar Puskoor and Abidali Neemuchwala, the former CEO of

his team is split between the United States and India.

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Global fund bets on early-stage and growth-stage startups focused on leveraging deep technology in cloud, AI/ML (artificial intelligence and machine learning), data and other technologies emerging.

“We are overwhelmed with the response to our DVC Fund II and particularly pleased with the recognition as a cross-border VC by our investors as they benefit from the start-up revolution unfolding in India,” said Puskoor, Managing Director of DVC, says.

DVC has invested in 27 startups in the US and India and exited nine over the past decade.

“We partner with our portfolio companies as mentors offering strategic guidance during the most important phase of the startup journey to accelerate their revenue from $1 million to over $10 million,” Puskoor added.

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