Dallas Venture Capital (DVC) has successfully secured a significant funding of Rs 60 crore to fuel the growth of micro, small, and medium enterprises (MSMEs), signaling its commitment to strengthening the sector. In a parallel development, 100X.VC, a prominent venture capital firm, has invested $3.4 million in a fresh batch of startups, further bolstering the startup ecosystem. These investments reflect the continued confidence in the potential of MSMEs and early-stage ventures, highlighting the positive momentum within the investment landscape.
The Dallas funding comes from Self Reliant India (SRI) Fund, a scheme of NSIC Venture Capital Fund Limited, and NewcrestImage, a privately-held family office investment firm based in Dallas. DVC plans to leverage these funds to accelerate the development of MSMEs and maximize employment opportunities, as stated in their official statement.
“We are thrilled to receive commitments of Rs 60 crore from Self Reliant India Fund and NewcrestImage, which will enable us to further strengthen the MSME sector and contribute to the overall economic growth,” said Dayakar Puskoor, the founder of DVC. With operations based in Dallas, Texas, and Hyderabad, India, DVC specializes in investing in emerging technologies such as cloud infrastructure, B2B SaaS, AI/ML, mobile, XR, and more. The firm prides itself on bridging the startup ecosystems of India and the US, offering not just capital but also valuable business guidance to its portfolio companies.
DVC has already made strategic investments in various MSMEs, including Disprz, an AI-powered enterprise learning experience and upskilling platform, Intellewings, an innovative AML/CFT compliance solutions provider, BluSapphire, an AI/ML and analytics-enabled cybersecurity platform, VuNet, a next-gen visibility and analytics company utilizing full-stack AI and big data, and Hippo Video, an AI-powered platform for creating persuasive sales videos. These investments reflect DVC’s commitment to fostering digital transformation across enterprises.
Looking ahead, DVC plans to deploy nearly Rs. 1,000 crore ($125 million) over the next few years to support MSMEs across sectors in scaling globally. Their aim is to drive innovation, create employment opportunities, and bolster the economy as a whole. The partnership with Self Reliant India Fund and NewcrestImage further strengthens DVC’s position in the market and enhances its ability to provide much-needed support to promising startups.
In a separate development, Mumbai-based venture capital firm, 100X.VC, has invested $3.4 million in its 9th cohort of startups. This brings the total number of investments made by the firm since its inception in July 2019 to 127. The investments were announced during the VC Pitch Day event in Mumbai, which witnessed participation from over 400 investors, including high net worth individuals, family offices, venture capital funds, and corporations.
100X.VC’s investment model revolves around the class-based investment approach, where startups across sectors are invested in before the commencement of the class. In the 9th cohort, the firm received applications from 709 companies, out of which it shortlisted 22 startups for funding. These portfolio companies represent disruptive opportunities in the early-stage startup ecosystem and hail from various cities, including Mumbai, Bangalore, Delhi, Pune, Ahmedabad, Noida, and Kolkata.
“We are excited to introduce our latest cohort of 22 startups in Class 09, taking our total investments to 127 across diverse sectors. This demonstrates our belief in the abundance of disruptive businesses in the Indian startup ecosystem,” stated Ninad Karpe, a Partner at 100X.VC. The firm has been utilizing the India Simple Agreement for Future Equity (iSAFE) notes for investments since 2019. This instrument allows investors to make cash investments in exchange for a convertible security note, enabling flexibility and potential future equity.
The investments made by both DVC and 100X.VC reflect the growing confidence in India’s startup ecosystem and the recognition of its potential for disruptive innovation.
