Dallas Venture Capital announces India Fund in partnership with Hyderabad T-Hub

The start-ups will get support to create innovative technology that meets global market needs, increase their IT infrastructure efficiency and team productivity, and improve their top-line performance, they added.

Telangana Minister for IT KT Rama Rao while addressing the dignitaries at the event said, “I am thrilled to be here today as we announce the launch of the DVC India Fund. This partnership between two promising institutions aims to make Telangana a leading IT hub.

“Our state has great potential to meet the growing demands of the global IT industry. Organizations like DVC and T-Hub, with their expertise and understanding of the international market, will be able to maximize the success of start-ups not only in Telangana but across India.”

DVC to help start-ups

Speaking on the DVC India Fund DVC Managing Director Dayakar Puskoor said, “The best of the B2B SaaS start-ups are being minted in India, and as a cross-border VC, Dallas Venture Capital is uniquely positioned for helping start-ups scale and grow globally through the DVC Advantage Program.”

T-hub CEO Srinivas Rao Mahankali (MSR] said, “T-Hub is committed to rigorously enhancing the investment capacity of Telangana state in deserving Indian start-ups based out of Hyderabad.

“With our strategically planned partnership with DVC, we are hopeful that start-ups will get an opportunity to learn from DVC’s vast pool of mentor experts, and access to networks and elite resources. This will prove to be immensely helpful for the founders with assistance in refining their IT infrastructure efficiency and scaling their businesses to grow the customer base.”

The IT and Industries Minister @KTRTRS today formally announced the US and India-based cross-border Venture Capital (VC) firm @wearedallasvc’s India Fund aimed at accelerating the growth of startup community. Presided over the exchange of MoU between the VC firm and @THubHyd. pic.twitter.com/mn4BF1eTMv

— KTR, Former Minister (@MinisterKTR) January 13, 2023

DVC India Fund has, in the last12-14 months, already invested in five star-tups: Disprz; IntelleWings; VuNet; BluSapphire; and Hippo Video.

DVC Co-founder and Director Abidali Neemuchwala said, “The year 2023 is going to be a tough macro-economic environment, but global enterprises are at an early stage of the digital transformation journey.

“Hence, at DVC, we are very optimistic about start-ups helping enterprises digitally transform and solving real-world problems for them. We aim to help these start-ups scale their growth and reach a global forum of investors and advisors.”

Also read: ‘Country needs a break from lopsided BJP policies’

KTR meets industry leaders

A day before, on Thursday, KTR met top business and industry leaders in Mumbai, including Tata Group Chairman N Chandrasekaran, JSW Steel Chairman Sajjan Jindal, Chairman and Managing Director of Hindustan Unilever Limited Sanjiv Mehta.

KTR explained to them the Telangana government’s industry-friendly policies, the economic progress achieved by the state which makes it a conducive destination for investments, and the avenues to expand their operations, among other things.

During his meeting with Chandrasekaran, the minister listed the sectors where the group can further expand its operations and urged him to invest more in the state.

He also urged the Tata Group to establish an aircraft Maintenance, Repair, and Overhaul (MRO) centre in Hyderabad, and explore the possibility of expanding Tata Consultancy Services operations to Warangal.

Had a good meeting with Chairman of Tata Group Sri N. Chandrasekharan Ji

Thanked him for his group’s continued support and also discussed potential investment opportunities pic.twitter.com/CN1dWu7Pqj

— KTR (@KTRBRS) January 12, 2023

Keeping in view that Tata Group has huge plans with respect to the electronics sector, the minister showcased the ideal investment climate in the state for the sector.

Expressing satisfaction over the group’s business activities in Telangana, Chandrasekaran said that their experience shows doing business in the state has been made hassle-free. He assured the minister that Telangana will figure prominently in the group’s expansion plans.

Steel plant in Bayyaram?

During his meeting with Sajjan Jindal, KTR said that the central government and Steel Authority of India Limited (SAIL) came forward to establish a steel plant in Bayyaram. He noted that since there are ample reserves of iron ore in Bayyaram and adjacent Chhattisgarh, the area was ideal for setting up a steel plant.

The minister assured Jindal of complete cooperation if JSW Steel decides to establish a steel factory there. Stating that he was aware of the policies implemented in the state, Jindal praised Chief Minister K Chandrashekar Rao for his leadership.

Later, the minister met the Hindustan Unilever’s Sanjiv Mehta with whom he discussed potential investment opportunities for the group in the FMCG sector in the state.

The minister informed him that this was the right time to invest in Telangana as the per capita income and other financial indicators are rapidly improving and consequently, the purchasing power of people has also increased.

The minister said that farmers are being encouraged to take up oil palm plantations as the state government has set an ambitious production target.

Thereafter, the minister met the Managing Director of RPG Enterprises Anant Goenka and explained to him the progress achieved by the state and the investment opportunities it offers.