DVC secured a commitment of INR 60 Crores from Self Reliant India (SRI) Fund & NewcrestImage

DVC secured a commitment of INR 60 Crores from Self Reliant India (SRI) Fund & NewcrestImage
DVC secured a commitment of INR 60 Crores from Self Reliant India (SRI) Fund & NewcrestImage

The funds will be invested  by DVC in enterprise B2B software startups 

Dallas Venture Capital (DVC), a cross-border venture capital firm, has received commitments for INR 60 crores from Self Reliant India (SRI) Fund, a domestic Fund of Funds and NewcrestImage, a diversified Family Office with holdings in Real Estate, Banking, Debt Fund, Alternative Investments, and Public Equities who have joined as Limited Partners (LPs) in DVC’s India Fund contributing to its targeted corpus of INR 350 Crores. DVC India Fund has already attracted investments from many domestic and international Family offices and HNIs from across the world who are excited to participate in the India growth story through DVC’s thesis led and focussed investment strategy and have joined as LPs in the fund.

DVC India has got commitments worth INR 40 crores from Self Reliant India (SRI) Fund & INR 20 crores from NewcrestImage and its associates. DVC India will utilize these funds to support faster growth of Micro, Small and Medium Enterprises (MSMEs) helping in the overall economy building & strengthening and maximizing employment opportunities.

DVC, based out of Dallas, Texas, USA and Hyderabad, India, has already invested in MSMEs like Disprz (an AI-Powered Enterprise Learning Experience & Upskilling Platform), Intellewings (Cutting-edge AML/CFT Compliance Solution Provider), BluSapphire (AI/ML & Robust Analytics backed Cybersecurity platform), VuNet (Next-gen visibility and analytics company that uses full-stack Al & Big Data analytics to accelerate digital transformation within an organization) and Hippo Video (AI-powered platform that allows users to craft compelling sales videos that drive engagement and conversions). With nearly Rs. 1,000 Crores ($125M), DVC is committed to deploying the funds and helping MSMEs across sectors to scale globally over the next few years. Portfolio companies of DVC are supported in their growth strategy through the uniquely designed DVC Advantage where DVC’s global team of partners and advisors help the portfolio company with their Go-to-Market (GTM), product and growth strategies.

Sharing his thoughts, Mr Dayakar Puskoor, Founder and Managing Director of Dallas Venture Capital, said, “Through these funds, we will make strategic investments in MSMEs which make technologies that help make India self-reliant and help them expand globally. We will help these MSMEs grow through DVC’s unique partnerships and global industry networks.”

With a corpus of INR 10,000 Crore, the SRI Fund is a fund of funds, setup as a scheme of NSIC Venture Capital Fund Limited, a wholly-owned subsidiary of The National Small Industries Corporation Limited  and managed by SBICAP Ventures Limited , that catalyzes capital flow in the MSME space. NewcrestImage is a privately held family office investment firm based in Dallas, Texas, with an extensive portfolio of diversified real estate assets and alternative investments. NewcrestImage has invested more than $2.7B across 148 cities in hotels, real estate and technology-based startups.

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