Dallas Venture Capital (DVC), a cross-border startup financing fund, has received Rs 60 crore in from the Self Reliant India Fund (SRI), NewcrestImage and its investors. It received Rs 40 crore in investment from the Self Reliant India (SRI) Fund and Rs 20 crore in finance from Newcrest and its partners.

According to a statement, the firm would utilise these funds to help accelerate the growth of micro, small, and medium-sized firms (MSMEs), so helping to expand and strengthen the broader economy and maximise job possibilities.

The SRI Fund is a fund of funds managed by SBICAP Ventures that was founded as a scheme of NSIC Venture Capital Fund, a wholly-owned subsidiary of The National Small Industries. DVC is a venture capital firm based in Dallas, Texas, and Hyderabad, India, founded by Dayakar Puskoor, that invests in cloud infrastructure, B2B SaaS, AI/ML, mobile, XR, and other new technologies.

DVC claims to bridge the gap between two startup ecosystems: India and the United States. It offers its portfolio companies money as well as business guidance. It has already made investments in MSMEs such as Disprz (an AI-powered enterprise learning experience and upskilling platform), Intellewings (innovative AML/CFT compliance solutions), BluSapphire (AI/ML and analytics-enabled cybersecurity platform), VuNet (a next-generation visibility and analytics company using full-stack AI and big data to accelerate digital transformation across the enterprise), and Hippo Video (a platform powered by AI to create persuasive sales videos to drive engagement). DVC intends to invest around Rs. 1,000 crore (USD 125 million) over the next three years to help MSMEs in various industries scale globally.