Sarmayacar has announced a $30 million venture capital fund aimed to support Pakistani tech startups.
Netherland based, early-stage seed fund will invest $100,000 to $2 million in Pakistani organisations that are particularly tech-oriented and have potential, largely, in the tech- sectors. Founder and Chief Executive Officer (CEO), Rabeel Warraich said that the objective of Sarmayacar Ventures is to “invest in the future of Pakistan”.
He added, “We are excited about the emerging opportunities in the country, particularly in the venture space, underpinned by attractive demographics and a strong digitization push across many segments of the economy.”
Warraich hopes that more investors and entrepreneurs, both local and international, follow “these small initial steps” and direct more risk capital aiming towards the nascent entrepreneurial ecosystem of the country. Warrachi’s International partner Dr. Klemen explained Pakistan as “one of the last remaining untapped markets of an attractive scale”.
He added, “The stage of development of the entrepreneurial ecosystem in Pakistan allows us to build bridges and bring learning and expertise from international ecosystems.”
Sarmayacar gears towards providing value-added capital to startups by offering them access to an experienced and diverse range of investors and international domain experts led by former Electronic Arts board member Jan Bolz, Dr. Klemen said, in order to support local talent in company building and mitigate the scarcity of “smart capital” in Pakistan.