Gobi Partners launches $50M tech fund for Pakistani startups as it signs an MoU with the Bank of Punjab.
In a significant development for Pakistan’s startup landscape, Gobi Partners, a prominent venture capital firm in Asia, has introduced its $50 million Techxila Fund II. The announcement was made during the Pakistan Punjab Investment Conference in Shanghai, coinciding with Punjab Chief Minister Maryam Nawaz Sharif’s official visit to China from December 8 to 15.
Techxila Fund II aims to invigorate entrepreneurship in Pakistan by targeting high-growth sectors such as financial technology, e-commerce, logistics, health tech, and SaaS. Gobi Partners, which oversees $1.6 billion in assets across Asia, strives to empower underfunded entrepreneurs, promote innovation, and facilitate sustainable development in emerging economies.
Building on the achievements of its first Pakistan-focused fund, Gobi Partners has already invested in 22 startups, benefiting 3.2 million low-income households, generating $245 million in revenue in 2023, and providing $54 million in loans. Among its portfolio are PriceOye, Pakistan’s second-largest e-commerce platform, DealCart, a rapidly expanding social commerce initiative, and Abhi, a financial platform offering advanced credit solutions for businesses and consumers.
In a related initiative, Gobi Partners signed an MoU with the Bank of Punjab (BoP) to bolster support for local startups. The partnership includes BoP’s provision of preferential debt financing, equity investments in high-potential firms, and tailored financial solutions for startups. BoP will also gain priority access to Gobi’s deal pipeline, enabling the identification of strategic investment opportunities aligned with its goals.
Moreover, Maryam Nawaz Sharif commended these measures as transformative for Pakistan’s digital and technology sectors. She highlighted that the $50 million fund reflects Gobi’s confidence in Pakistan’s startup ecosystem and will stimulate innovation, generate employment, and enhance the country’s digital infrastructure. Additionally, she emphasized the need for sustained collaboration between Gobi Partners and the Punjab government through long-term strategic plans.
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