Pakistan startup fund launched

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Pakistan startup fund launched

Mehtab Pirzada

ISLAMABAD: Pakistan on Monday launched the Pakistan Startup Fund (PSF) which will invest up to Rs 2 Billion every year in Pakistani startups. The fund is structured as an equity-free capital to help close a VC round for a startup. PSF is designed to help a startup raise its first external investment. If you are a startup in Pakistan and a foreign VC is evaluating your startup for a $1 million investment, the VC only needs to invest $700k — the Pakistan Startup Fund will give you a grant of $300k to help close the round.

Dr, Umar Said said ‘We won’t take any equity/shares in your startup or a board position etc. PSF is designed to lower the risk for international investors to invest in Pakistani startups; once we have written you a cheque, we won’t hassle you at all .. betting on you and your VC investors to drive your success. With PSF we hope to create a value of at least Rs 50 Billion per year in the startup ecosystem in Pakistan’.