Dallas Venture Capital launches Rs 3,500 crore fund for startups

Dallas Venture Capital on Friday announced the launch of the Rs 3,500 crore DVC India fund and a partnership with tech startup incubator T-Hub.

The fund’s focus will be on startups in the enterprise technology and B2B SaaS space. T-Hub’s backing will enable the fund to identify and invest in fast-growing, innovative startups. According to the US and India-based venture capital firm, startups will be supported in developing innovative technologies that meet global market needs, increasing the efficiency of their IT infrastructure and team productivity, resulting in improved top-line performance.

According to a T-Hub announcement, DVC India Fund has already invested in five startups in the last 12-14 months — Disprz, IntelleWings, VuNet, BluSapphire and Hippo Video.

Speaking at a fund launch programme at T-Hub, Minister of Industry and IT KT Rama Rao said funding for start-ups is no longer a challenge as the world is looking for investment opportunities and where investment returns are assured, start-ups need to have valuable ideas for investment to come.

Abidali Neemuchwala, co-founder and director of DVC, said the VC firm is optimistic about the role startups can play in digital transformation and solving real problems for global enterprises.