[Dallas, Texas, 9/14/2020] — Dallas Venture Partners (DVP) today 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. 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 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.”

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”, Dayakar added.

“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, sharing his excitement of joining Dallas Venture Partners.

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 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.”, further adds Dayakar.

If you would like more information, please contact Manu Sharma at [email protected].