Bengaluru, NFAPost: Abid Ali Neemuchwala, the former CEO and Managing Director of Wipro, joined Dallas Venture Partners (DVP) which started its operation under the leadership of serial entrepreneur Dayakar Puskoor.
Dallas Venture Partners (DVP) announced 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.
Speaking on the occasion Dallas Venture Partners (DVP) Managing Director Dayakar 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,” said Dallas Venture Partners (DVP) Managing Director Dayakar Puskoor.
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.
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 & accelerator programs, speaking and networking opportunities at industry and business conferences.
DVP 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,” said Dallas Venture Partners (DVP) Managing Director Dayakar Puskoor.
Sharing his excitement of joining Dallas Venture Partners Abid Neemuchwala said Dallas Venture Partners will be build on Dayakar’s vision of bringing the Silicon Valley spirit to Dallas.
“I am excited to begin this journey to play my part in nurturing innovation, mentoring startups, and celebrating entrepreneurship,” said Abid Ali 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 the country backed by fast-growing VC funded startups, higher rate of job creation, and comparatively lower real estate cost.
DVP’s model 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.
Dallas Venture Partners (DVP) Managing Director Dayakar Puskoor 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,” said Dallas Venture Partners (DVP) Managing Director Dayakar Puskoor.
Dallas Venture Partners (DVP) is a Dallas/Irving, Texas based venture capital company 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.
Founded by Dayakar Puskoor a pioneering Dallas based venture capitalist with a chequered record of investments in 21 companies and has generated five exits to date. Some examples of Dayakar’s pioneering investments include: Kore.ai, Altia Systems (Acquired for $125M), Hyperverge, Felix Healthcare, CoreStack, Amplifai, Viviota and others with a combined portfolio enterprise value that exceeds US $1 Billion.
DVP will focus on the management of an evergreen fund to provide broad, continuous, and repeat investment opportunities. DVP has offices in Dallas/Irving & Hyderabad, India.