In recent years, new local funds and global VC firms have started focusing on Pakistan; signaling where the startup ecosystem in the country is heading. As the startup environment continues to evolve and the cultural and legislative hurdles begin to ease, the country's agents and players have shifted their priorities in favor of entrepreneurship. As one of the last few untapped markets, Pakistan is a land of opportunities for startups and investors alike. In this article, we have compiled a comprehensive list of the top VC funds and angel investors in Pakistan that may be the right partner for you to grow your startup.
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There are several reasons why startups may want to consider raising funds in Pakistan:
Access to a large market: Pakistan is the 5th most populous country in the world with a population reaching 230 million people; making it a sizable market for startups to enter. Furthermore, the population is mostly young and English-speaking, with a median age of 22; making it easy for startups to interact with the local populace.
Growing economy: Continuing from the first point, Pakistan's affluent population has made the economy one of the fastest-growing in the world. The country has a rising middle class, with a remarkable growth in internet adoption due to its affordability. By the end of 2021, there were 184 million cellphone users and more than 100 million mobile broadband subscribers in the country; creating a large and accessible target market for startups.
Supportive government policies: The Pakistani government has enacted a number of measures to stimulate and support foreign investment and entrepreneurship, such as tax breaks and the creation of special economic zones. Some examples of these initiatives are the establishment of Electronic Money Institutions by the country's central bank, the State Bank of Pakistan, as well as the Digital Banking Policy, which permits digital banks to offer credit, investments, and other services in addition to e-wallets.
Venture Capitalist Funds in Pakistan
The venture capitalist funds below are actively looking for investment opportunities in diverse sectors and at different stages. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed.
Type: VC
Year of Inception: 2019
Stage: Pre Seed, Seed
Focus: Sector Agnostic
Notable Portfolio: Abhi, Safepay, Creditbook
i2i Ventures support visionary entrepreneurs who are tackling Pakistan's most pressing issues. Aside from providing funds to portfolio firms, they also provide hands-on support to help startups grow. This includes providing expert consultations and technical assistance with their team of operators and experts, assisting in the sourcing, recruiting, and optimization of the talent pool, and providing support in gathering user insights through i2i Insights, their sister company's research arm. Furthermore, they facilitate startups' future fundraising by providing access to their large worldwide and local networks.
Type: VC
Year of Inception: 2017
Stage: Pre-Seed, Seed, Series A
Focus: Technology
Notable Portfolio: Rider, Tellotalk, Abhi, Find My Doctor, GharHo
Formerly the venture capital arm of TPL Group, Pakistan's foremost tech-focused conglomerate, TPL e-Ventures now operates as an independent venture capital firm, with a concentration on enterprises where the TPL Group can actively provide value (i.e. properties, insurance, logistics, etc). With their significant presence in diverse industries, TPL e-Ventures not only provides capital to its portfolio companies, but also strategic counsel, operational support, and access to their national and worldwide networks.
Type: VC
Year of Inception: 2001
Stage: Seed, Series A
Focus: Agriculture, Education, Energy, Financial Inclusion, Health, Housing, Water & Sanitation, Workforce Development
Notable Portfolio: Micro Drip, SRE Solutions, NIZAM Energy, Nasra Public School
With the vision of a world where every person can live with dignity, Acumen invests in startups that help the underprivileged change their lives. Their objective is to invest "Patient Capital" to bridge the gap between market-based systems and pure philanthropy to address poverty. Aside from capital, they also provide portfolio firms with the resources, networks, technical assistance, and strategic leadership they require to flourish and expand their solutions.
Type: VC
Year of Inception: 2018
Stage: Seed, Series A
Focus: Impact, Healthcare, Education
Notable Portfolio: Neem Exponential
Cordona Ventures is an impact venture capital firm investing in startups operating in the healthcare and education sectors. Comprised of a team of experienced operators and supported by an advisory board, their mission is to develop cost-effective, impact-focused service delivery models at affordable pricing. Ultimately, they want to balance the scorecard between impact and commercial KPIs, whilst ensuring the scalability and sustainability of the startups.
Type: VC
Year of Inception: 2019
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: AimFit, BridgeLinx, Farmdar, Markaz, RemoteBase
Helping founders build Pakistan's future, Indus Valley Capital invests in early-stage startups that are reshaping whole sectors in Pakistan. They provide quick capital as well as expertise in product and growth to support startups in creating and launching their products in the market. They will also provide you access to a network of accomplished entrepreneurs, investors, and other VC firms to help you get ahead.
Type: VC
Year of Inception: 2020
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: Roomy, Truckitin, Metric, Easyfresh, CreditPer
Based in Islamabad, Deosai Ventures is a venture capital firm that invests across diverse industry sectors. They don't require warm introductions, so any startup can easily approach them to pitch their projects. Furthermore, they are active in hosting meetups for founders, VCs, and community partners.
Type: VC
Year of Inception: 2018
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Befiler, Bagallery, MandiExpress
Lakson Venture Capital is one of Pakistan's leading venture capital firms that invests in high-growth technology companies. Working with Lakson Investments, they leverage the prowess of over 50 experienced experts as well as the Lakson Group's wide operational experience across industries such as technology, broadcast and print media, FMCG, insurance, and QSR. They place their investments where technology can be used to enhance and disrupt current business models as well as create new industries; focusing on companies that are less than 36 to 48 months away from a successful Series A round or possible exit. They also invest in select Seed rounds through their partnerships with several incubation and acceleration programs.
Type: VC
Year of Inception: 2016
Stage: Series A, Series B, Series C
Focus: Technology
Notable Portfolio: Jugnu, Jiye Technologies, Abhi, TruckSher, ProCheck, Bykea
Sarmayacar, meaning investor in Urdu, was initially established as a fund syndicate but has established itself as a venture capital fund since 2018. Focused on Pakistani businesses, Sarmayacar adopts a long-term, conviction-driven strategy and remains optimistic about Pakistan's digital prospects. They are devoted to establishing best practices and governance standards, as well as contributing to the growth of the country's ecosystem.
Angel Investors in Pakistan
The Angel investors listed below are part of and represented by an Angel group or are active in Angel Platforms. As individual Angel Investors are hard to come by, these platforms are the best place to secure Angel financing.
Type: Angel Group
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: PERKUP, Affordable.pk, Travly
CresVentures is a Pakistani Angel Fund situated in Lahore, and the nation's first recognized coordinated initiative to support the tech startup ecosystem. With a mission to transform unique ideas into game-changing realities, they provide early-stage startups with capital, resources, strategic guidance, and relationships to help them break out and flourish.
Type: Angel Syndicate
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: Airlift, Edkasa, Jugnu, Roomy, GrocerApp
Wallet City Co. is an angel syndicate that invests in inventive founding teams using technology to create Pakistan-centric business solutions. They provide startups with the support they need to aim high; such as a network of peers and fellow founders in the community, connections to industry experts in various sectors, and a strong network of angels, advisors, investors, and partners. Altogether, they champion cooperation and competition to steer startups to their next steps and fuel startups' growth.
Type: Angel Platform
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: -
Pakistan Investment Network is an angel investing platform where angel investors and startup founders alike can sign up and browse for opportunities. Startups may post their projects on the platform for angels to see, as well as browse through potential investors in their directory.
Type: Angel Platform
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: -
Similar to Pakistan Investment Network, Teamup Angels is a platform where angels and founders can apply to be members and find relevant opportunities. Via their portal, startups can get actively promoted as well as interact and communicate with angels in a safe and confidential setting. Teamup will help members in accessing mentors, advisors, and domain experts, as well as incubators, accelerators, and startup competitions.
Closing Thoughts on VCs and Angel Investors in Pakistan
With access to a large market and growing economy, as well as increased ease of doing business and investing, Pakistan's startup ecosystem has started to pick up the pace. There is a strong desire among highly ambitious founders to grow their startups on Pakistani soil. In such a vast, unexplored market, these startups have the foremost opportunity to grow rapidly.
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