Now home to over 700 startups, Sri Lanka's startup environment has grown substantially over the last decade. With the goal to produce 1,000 new startups, Sri Lankan government has been actively empowering local entrepreneurs and assisting them in establishing and growing their businesses through various initiatives. Although the startup ecosystem in Sri Lanka is still small compared to other Asian startup hotspots, there is potential for the startup scene to grow. In this article, we have compiled a comprehensive list of the top VC Funds and Angel Investors in Sri Lanka for startups looking for funding in this growing ecosystem.
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Venture Capitalist Funds in Sri Lanka
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.
Year Founded: 2016
Stage: Seed, Series A
Focus: Sector Agnostic
Portfolio: Alakazam, Glitteray, MoneyWorkz
Third Lane Ventures is a pioneering venture capital firm that focuses on finding and fostering promising entrepreneurs in diverse areas, with the primary objective of generating innovation and economic progress. Third Lane Ventures plays a critical role in assisting these early to mid-stage entrepreneurs in realizing their potential through strategic investments and comprehensive advisory services.
Year Founded: 1992
Stage: Seed, Series A, Series B
Focus: Sector Agnostic
Portfolio: -
Established in 1992, Lanka Ventures is a notable venture capital firm with a strong presence in Sri Lanka's developing startup scene. They specialize in discovering, investing in, and supporting creative entrepreneurs in a variety of industries. Lanka Ventures actively supports the growth and success of early to mid-stage firms by providing critical finance, strategic insights, and coaching.
Year Founded: 2017
Stage: Seed, Series A, Series B
Focus: Technology
Portfolio: FinTrex Finance, PickMe, GamerLK, GIGA Foods
Bluestone Capital is an experienced venture capital firm that invests in startups with opportunities for disruption. Their investment goes beyond financing enterprises, but also hands-on coaching to create long-term value and fuel growth. Their expertise is focused on the application of technology driven by best-in-class teams.
Year Founded:
Stage: Series A
Focus: Sector Agnostic
Portfolio: Urban.lk, Viduhala.lk, Blue Lotus 360, vShip, Helios, DirectPay
John Keells X is a corporate startup accelerator and innovation platform that provides capital, coaching, workspace, access to clients and channels, and other services to early-stage startups. Backed by John Keells Group, one of Sri Lanka's major conglomerates, John Keells X helps Sri Lankan businesses speed up their growth through various initiatives. In terms of investments, they are second agnostic. However, some sectors are more advantageous in terms of the assistance that John Keels X can provide, particularly leisure and tourism, transportation, consumer foods, insurance, retail, property, banking, plantations, IT, and research.
Angel Investors in Sri Lanka
Angel investors may act as an individual or as a syndicate to fund projects of their preference, so these angel networks are the best opportunity for you to find a potential Angel with an aligned vision and interests.
Stage: Seed, Series A
Focus: Sector Agnostic
Portfolio: -
The Lankan Angel Network (LAN) is a network of angel investors in Sri Lanka founded to promote entrepreneurship and innovation. LAN acts as a vital link for businesses looking for funding and investors looking for interesting prospects. Comprising of seasoned professionals, successful entrepreneurs, and industry experts, they provide startups with not only financial capital but also important mentorship, guidance, and networks.
Stage: Seed
Focus: Sector Agnostic
Portfolio: -
The Sri Lanka Angel Investment Network is a platform that connects Sri Lankan entrepreneurs with angel investors. The platform allows startups to post their projects and funding requirements, connecting businesses seeking investment with investors who have the funds, relationships, and skills to help them thrive.
Closing Thoughts on VCs and Angel Investors in Sri Lanka
Though Sri Lanka's startup scene is still small compared to other Asian counterparts, but its potential is evident. International startup brands such as Startup Weekend by TechStars, Seedstars, and AngelHack have already joined Sri Lanka, indicating a strong future for the startup sector. As the Sri Lankan startup ecosystem grows, we can expect more venture capital firms and angel investors to partake in the scene.
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Frequently Asked Questions on VCs and Angel Investors in Sri Lanka
What are the top venture capital firms and angel investor networks in Sri Lanka?
Sri Lanka's startup ecosystem is growing, with active venture capital firms such as BOV Capital, Lankan Angel Network (LAN), Aavishkaar Capital, Hatch Fund, and Blue Ocean Ventures. The Lankan Angel Network (LAN) is the largest angel investor group, supporting early-stage startups with funding and mentorship.
Which industries are attracting the most VC and angel investment in Sri Lanka?
Key sectors receiving venture capital and angel investments include fintech, edtech, SaaS, e-commerce, agritech, logistics, and renewable energy. Startups in health tech and digital payments have also gained traction due to increasing adoption of digital services in Sri Lanka.
What is the typical investment size for startups in Sri Lanka?
Angel investors typically fund startups with $25,000 to $500,000 in pre-seed or seed rounds.
Venture capital firms invest in Series A and beyond, providing funding between $500,000 and $5 million, depending on scalability and market potential.
Impact investors are also active, particularly in sustainable and social impact-driven startups.
How can startups connect with VCs and angel investors in Sri Lanka?
Startups can secure funding by participating in:
Startup incubators and accelerators like Hatch Works, Spiralation, and John Keells X
Networking events and pitch competitions such as Disrupt Asia and Venture Engine
Investor platforms like LinkedIn, AngelList, and Crunchbase to connect with local and global investors
What is the due diligence process followed by VCs and angel investors in Sri Lanka?
Before funding a startup, investors conduct due diligence on:
Business model viability and scalability
Financials, revenue projections, and cash flow
Market validation and competitive landscape
Legal compliance, intellectual property, and founder background checks
The process can take 4-10 weeks, depending on the investment size and industry.
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