Dallas Venture Capital Secures INR 60 Crore From Self Reliant India Fund And NewcrestImage The firm will utilize these funds to support faster growth of Micro, Small and Medium Enterprises (MSMEs) helping in the overall economy building and strengthening and maximizing employment opportunities
By Teena Jose
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Dallas Venture Capital (DVC), a cross-border venture capital firm, has received commitments for INR 60 crore from Self Reliant India (SRI) Fund and NewcrestImage. DVC India has got commitments worth INR 40 crore from Self Reliant India (SRI) Fund and INR 20 crore from NewcrestImage and its associates. The firm will utilize these funds to support faster growth of Micro, Small and Medium Enterprises (MSMEs) helping in the overall economy building and strengthening and maximizing employment opportunities.
"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," said Dayakar Puskoor, founder and managing director, Dallas Venture Capital.
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 a portfolio of diversified real estate assets and alternative investments, according to an official release.
Founded by Dayakar Puskoor, DVC is a Dallas TX, US and Hyderabad, India based venture capital firm investing in cloud infrastructure, B2B SaaS, AI/ML, mobile, XR and other emerging technologies.
