Photo: Shri Jayesh Ranjan, Principal Secretary, IT & IC, Government of Telangana, Shri Dayakar Puskoor, Founder & Managing Director, DVC, Honourable Minister for IT & EC, Government of Telangana, Shri K T Rama Rao, Dr. Norman Dunn, State Minister, Ministry of Industry, Investment & Commerce, MP, Govt. of Jamaica, Dr. Ranjeet Reddy, MP from Chevella, Telangana, Mr. Abid Neemuchwala, Co-founder & Director of DVC & Shri Srinivas Rao Mahankali (MSR), CEO, T-hub at the DVC India Fund Announcement at T-hub.
India, 14th January 2023: US and India-based cross-border venture capital (VC) firm Dallas Venture Capital announced the DVC India Fund and partnership with T-Hub today. The partnership is a part of DVC’s focus in 2023 that aims to scout startups to help them scale their business, enabling them to increase their customer base. For the same, DVC will work closely with existing and new portfolio companies. With T-Hub’s support, DVC will get empowered to find fast-growing, innovative startups. The startups will get support to create innovative technology that meets global market needs, increase their IT infrastructure efficiency and team’s productivity, and improve their top-line performance.
“I am thrilled to be here today at T-Hub as we announce the launch of the DVC India Fund. This partnership between two promising institutions aims to make Telangana a leading IT hub. Our state has great potential to meet the growing demands of the global IT industry. Organizations like DVC and T-Hub, with their expertise and understanding of the international market, will be able to maximize the success of startups not only in Telangana but across India.” said the Honourable Minister for IT & EC, Government of Telangana, Shri K T Rama Rao, while addressing the media and dignitaries at the event.
Speaking on the DVC India Fund, Dayakar Puskoor, Managing Director of DVC, said, “The best of the B2B SaaS startups are being minted in India, and as a cross-border VC, Dallas Venture Capital is uniquely positioned for helping startups scale and grow globally through the DVC Advantage Program.”
Srinivas Rao Mahankali (MSR), CEO, T-hub, said, “T-Hub is committed to rigorously enhancing the investment capacity of Telangana state in deserving Indian startups based out of Hyderabad. With our strategically planned partnership with DVC, we are hopeful that startups will get an opportunity to learn from DVC’s vast pool of mentor experts, access to networks and elite resources. This will prove to be immensely helpful for the founders with assistance in refining their IT infrastructure efficiency and scaling their businesses to grow the customer base.”
DVC India Fund has already invested in 5 startups- Disprz – AI-powered right skilling suite, IntelleWings – Simplified, AI-powered & SaaS enabled AML/CFT Compliance, VuNet – Transaction monitoring platform, BluSapphire – SOC Automation SaaS platform & Hippo Video – Video based Sales/CX Engagement Platform in the last 12-14 months.
“2023 is going to be a tough macro-economic environment, but global enterprises are at an early stage of the digital transformation journey. Hence, at DVC, we are very optimistic about startups helping enterprises digitally transform and solving real-world problems for them. We aim to help these startups scale their growth and reach a global forum of investors and advisors”, said Mr Abidali Neemuchwala, Co-founder & Director of DVC.
Shri K T Rama Rao, Honourable Minister for IT & EC, Government of Telangana, along with Shri Jayesh Ranjan, Principal Secretary, IT & IC, Government of Telangana and Shri M Srinivasa Rao, CEO, T-Hub were present at the launch of the fund in Hyderabad today. The founding members and partners of DVC, Dayakar R Puskoor (Founder & MD), Abidali Neemuchwala (Co-founder & Director), Shyam Penumaka, Gokul Dixit & Kiran Kalluri(Partners) were also present to share the milestones and the upcoming plans for investments in the startups across India beginning from the Hyderabad market.
T-Hub’s programs have been successfully scaling startups in partnership with a robust ecosystem of partners. T-Hub, to date, has impacted over 2000 startups through various programs and initiatives, has over 600 global and national corporate partners and has provided 2000 mentor connects to help the startup scale.
DVC India Fund plans to invest in startups that have the potential to scale globally through their proven market history with local enterprises in 2023. They will deepen their relationship with the stakeholders across the startup ecosystem in India and continue accelerating DVC Advantage to deliver superior outcomes for investors and portfolio companies.
