Gobi Partners, a pan-Asian venture capital firm, has launched the $50 million Techxila Fund II alongside a Memorandum of Understanding (MoU) with the Bank of Punjab (BoP) to bolster Pakistan’s startup ecosystem.
The announcement was made at the Pakistan Investment Conference in Shanghai during Punjab Chief Minister Maryam Nawaz Sharif’s visit to China, which focused on fostering trade and investment collaborations in information technology, healthcare, and environmental management.
Techxila Fund II aims to empower Pakistani startups in sectors such as fintech, e-commerce, health tech, logistics, and SaaS. The initiative builds on the success of Gobi’s first Pakistan-focused fund, which has invested in 22 startups, impacting 3.2 million low-income households and generating $245 million in revenue in 2023.
Key portfolio companies include PriceOye, DealCart, and Abhi, which have collectively issued loans worth $54 million.
The MoU with BoP establishes a framework for advancing entrepreneurial initiatives, including preferential debt financing, equity investments, tailored financial products, and mentorship programs. BoP will also gain early access to potential investment opportunities identified by Gobi Partners.
During the announcement, Punjab Chief Minister Maryam Nawaz Sharif expressed gratitude to Gobi Partners for its commitment to Pakistan’s startup ecosystem. “The launch of this $50 million fund demonstrates the resilience and potential of Pakistan’s entrepreneurial community and will help catalyze innovative startups, create jobs, and strengthen our digital and technological landscape.”
She also proposed to develop a strategic framework for permanent collaboration and partnership between Gobi Partners and the Government of Punjab.
Gobi Partners’ Chairman Thomas G. Tsao emphasized the importance of the partnership, saying, “The launch of Techxila Fund II and our partnership with the Bank of Punjab reflect our commitment to fostering innovation and supporting entrepreneurs in Pakistan. Together, we aim to create sustainable economic opportunities and drive long-term growth.”
Zafar Masud, President and CEO of Bank of Punjab, stated, “This collaboration represents an important step toward strengthening Pakistan’s startup ecosystem and unlocking new opportunities for growth and innovation.”
The initiative underscores Gobi Partners’ focus on emerging markets, with the firm managing $1.6 billion in assets and supporting over 380 startups globally. The partnership with BoP is expected to propel Pakistan’s entrepreneurial ecosystem, aligning with Gobi’s broader goal of fostering innovation and sustainability in underserved regions.
