B Mirror Report: Bangladesh’s first institutionally managed venture capital platform was jointly launched by 39 commercial banks, which is a significant step toward boosting domestic investment in the startup sector.
Bangladesh Startup Investment Company PLC (BSIC) officially unveiled its first fund, “Ankur Bangladesh Fund 1,” at a ceremony held at the Radisson Blu Water Garden Hotel in Dhaka on Tuesday. Finance and Planning Minister Amir Khasru Mahmud Chowdhury attended the event as chief guest, while Bangladesh Bank Governor Md. Mostakur Rahman was present as special guest.
The platform has begun operations with a committed capital of around Tk 4.25 billion (approximately $35 million). Under the structure, participating banks will contribute 1 percent of their annual net profits to the fund, creating a sustainable and recurring capital pool rather than a one-time investment vehicle.
The fund will focus on seed, late-seed, and Series-A stage startups.
The initiative is the result of long-term policy support from Bangladesh Bank, which allowed commercial banks to invest 1 percent of their net profits from the previous five years into the fund and established the regulatory framework for BSIC’s operations.
Speaking at the event, Governor Mostakur Rahman said Bangladesh’s next stage of financial development requires institutions capable of supporting innovation while ensuring discipline, transparency, and accountability.
“BSIC is an important step toward channeling domestic capital into productive and technology-driven entrepreneurship. It will strengthen employment generation, productivity, and financial inclusion,” he said.
According to published data, Bangladesh’s startup sector has attracted more than $1 billion through over 450 investment deals since 2010. However, less than 7 percent of that funding came from domestic sources.
BSIC Chairman and City Bank PLC Managing Director Masrur Arefin described the platform as more than just a fund.
“BSIC will connect the dreams of Bangladeshi entrepreneurs with professional and organized capital. With the support of 39 commercial banks, we are building a bridge between local confidence and global venture capital standards,” he said.
Finance and Planning Minister Amir Khasru Mahmud Chowdhury said Bangladesh is entering a new phase of economic transformation where productivity, technology, entrepreneurship, and private sector innovation will drive future growth.
“BSIC reflects confidence in the capabilities of our young entrepreneurs and the potential of domestic institutions to build globally competitive enterprises,” he added.
During the event, Sami Ahmed, former General Partner at B Capital and current Senior Advisor, was announced as an advisor to the BSIC board.
Representatives from several international investment firms and venture capital organizations attended the launch, including VentureSouq, Wavemaker Partners, 500 Global, Plug and Play, ADB Ventures, GFR Fund, Sturgeon Capital, Conjunction Capital, and Orbit Startups.
BSIC said it aims to complete its first three investments before the end of 2026. The company also plans to appoint a managing director, chief investment officer, and a full investment committee by the third quarter of this year.
