Dallas Venture Partners (DVP) announced Sept. 14, 2020, its plans to focus on early stage and growth stage companies with cloud infrastructure, AI/ML, mobile and emerging technologies.
Dayakar Puskoor, a serial entrepreneur with a track record of successful investments will serve as the Managing Director of DVP, a press release from the company said.
The firm noted that Abid Neemuchwala, the former CEO and Managing Director of Wipro, would be bringing his extensive insight and relationship to DVP as a Venture Partner.
Speaking on the occasion Puskoor said, “A majority of startups require a “second act” during their growth stage. With deep technology expertise, industry knowledge, and market understanding DVP will provide this much needed momentum to startups identified through targeted and insightful diligence efforts.”
DVP plans to make investments in cloud infrastructure, AI/ML, Iot, XR, and other emerging technologies in the range of US$ 2 million to $10 million both in early stage and growth stage companies.
The pre- existing version of DVP was a venture capital platform that successfully invested in twenty-one startups with multiple successful exits and with a combined portfolio enterprise value of more than US$ 1 Billion, the press release said.
Translating past experience into DVP, the VC firm will provide extensive support to its portfolio companies through co-investments from Silicon Valley investors, participation in incubator and accelerator programs, speaking and networking opportunities at industry and business conferences.
Dallas Venture Partners said it had “a shot in its arm” with the joining of former CEO and Managing Director of Wipro Abid Neemuchwala as a Venture Partner. Abid has been leading the 180,000 strong US$ 8 Billion Wipro since 2016 and upon relinquishing his role has joined Dallas Venture Partners.
“Abid has been a statesman of the IT services industry and a thought leader advising Global CXO’s on Digital Transformation. His rich experience in business and technology, and extensive network, will benefit the startup ecosystem worldwide,” Puskoor said.
“Dallas Venture Partners will build on Dayakar’s vision of bringing the Silicon Valley spirit to Dallas and I am excited to begin this journey to play my part in nurturing innovation, mentoring startups, and celebrating entrepreneurship”, said Abid Neemuchwala.
Dallas’s technology and enterprise ecosystem has increased in recent times due to the growth of several Fortune 500 companies in the Dallas region. According to a Forbes report, Dallas is emerging as the new centre of IT innovation and technology development and it is one of the top hi-tech cities in country backed by fast-growing VC funded startups, higher rate of job creation, and comparatively lower real estate cost, DVP noted.
The model adopted by DVP is poised to democratize the venture capital industry by providing broader, continuous, and repeat investment opportunities for family offices, corporate venture arms, high net worth individuals, fund-of-funds, pension funds, institutional investors and entrepreneurs, the press release said.
“Dallas is fast becoming a hotbed for innovation and incubation but needs help with go-to-market acceleration. DVP will utilize our time tested philosophy to “Invest, Engage, Collaborate, Grow and Exit” to fund the market acceleration and increase the odds of success through its extensive network of advisors that offer unparalleled mentorship to startups,” Puskoor added.
Dallas Venture Partners (DVP) is a Dallas/Irving, Texas based venture capital company was founded by Puskoor with a focus on investing in early stage B2B software companies and ambitious entrepreneurs looking to partner with investors who have been in their shoes through hands-on support in the areas of product and market development.
Puskoor is considered a “pioneering Dallas based venture capitalist with a chequered record of investments in 21 companies and has generated five exits to date,” the press release said.
Examples of Puskoor’s investments include, among others, Kore.ai, Altia Systems (Acquired for $125M), Hyperverge, Felix Healthcare, CoreStack, Amplifai, and Viviota.
The company said it will focus on the management of an evergreen fund to provide broad, continuous, and repeat investment opportunities.
DVP has offices in Dallas/Irving and Hyderabad, India. For more information, visit: www.dallasvp.vc