Venture Intelligence (TSJ Media Pvt. Ltd.)
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Dallas Venture Capital makes first close of Rs.350-Cr India fund at Rs.100-Cr
Dallas Venture Capital (DVC) has made the first close of its India fund at INR 100 crore. It will look to close the INR 350 crore fund in the next six months. The fund has so far backed five companies in the enterprise software-as-a-service (SaaS) space including video SaaS platform Hippo Video, infrastructure monitoring firm Vunet, cybersecurity company BluSapphire, enterprise learning platform Disprz, and anti-money laundering company IntelleWings. It plans to back 16 companies during the four-year deployment cycle of the fund and is in talks with institutional investors, larger private capital players and high net-worth individuals in India for the final close. DVC will continue to write cheques of USD 2 - 5 million across Series A and Series B for SaaS companies based in India. It invests in startups with average revenue of USD 1 million. It has signed a Memorandum of Understanding (MoU) with Telangana-backed accelerator T-Hub to mentor startups based out of Hyderabad.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.