Pakistan launches VC Fund to boost startup ecosystem

The fund will provide up to $10 million annually to early-stage startups that have secured other investors, aiming to attract global venture capital back to the country.

Pakistan is setting up a venture capital fund to support local startups that are seeking early-stage funding from global investors.

The fund, which will be managed by the Ministry of Information Technology and Telecommunications, aims to invest up to $10 million annually in startups that have secured most of their financing from other sources.

The venture capital is part of the government’s efforts to revive the startup ecosystem in Pakistan, which has seen a decline in fundraising amid the global economic slowdown and rising inflation.

According to VC and insights firm Invest2Innovate, startup funding slumped significantly compared to $700 million in the previous two years.

The minister for information technology and telecommunications, Umar Saif, said in an interview with Bloomberg that the fund will help attract global investors to Pakistan’s startup scene, which has potential in sectors such as e-commerce, fintech, healthtech, and edtech.

Saif, a veteran entrepreneur and an MIT and Cambridge graduate, is part of an interim government that will oversee the country until the general election in February 2024. He said that he wants to make Pakistan a hub for innovation and technology in the region.

The minister for information technology also announced other initiatives to boost the tech industry in Pakistan, such as a mandatory internship program for university students, a network of offices for freelancers, and a plan to connect Pakistan with China’s fiber-optic cable project that links Africa and Europe.

Monitoring Desk
Monitoring Desk
Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.


  1. Hi, last night I watching Dr shahid maqsood program. After I m very happy to listen about pakistan startup program. I want to do for pakistan. I can work for poor population for pakistan. Major problems are connect with poor people. And also generate problems from poor and needy people, s. 5g ll help in pakistan to poor people. If we make stand for pakistan with sencerly. I heve nothing. But I’m sincere for may pakistan. At that time realy pakistan need not investment from foreign. Realy pakistan need sincere person. If investment ll come. But here is we know 75 percent people, s want shortcut way. So can I participate with cencerly for pakistan. Me available.


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