Former Wipro CEO's VC firm to raise $50M to fund Indian startups
Dallas Venture Capital (DVC) intends to invest around $130 million in enterprise-focused B2B SaaS firms over the next five years via its India and US funds in India and the United States. . DVC was floated by ex-Wipro CEO Abidali Neemuchwala, and serial entrepreneur Dayakar Puskoor. Dallas Venture Capital (DVC), founded by serial entrepreneur Dayakar Puskoor and former Wipro CEO Abidali Neemuchwala, intends to raise $50 million for Indian entrepreneurs as it closes its second $80 million fund in the United States. The Dallas-based venture capital (VC) firm said that it has already collected $20 million from local investors for its DVC India Fund-1. According to the business, the VC would invest in Indian companies through its US fund as well as DVC India Fund-1. DVC's US fund, early-stage B2B (business-to-business) SaaS (software-as-a-service) Fund II, will be one of the largest to operate out of Dallas, according to the VC company, which also stated that the fun...