On October 11th, 2017, 1839 Ventures® announced its international expansion and the launch of a US-based $20MM Pakistan venture capital fund. Once raised, the fund will be dedicated to investing in technology-oriented startups operated by exceptional entrepreneurs who are primarily based in incubators and accelerators across Pakistan. This announcement made at the ATX+PAK Entrepreneurship Program Closing Ceremony at Austin’s City Hall in a short speech by our firm’s Founder and Managing Member.
The 1839 Ventures® team spent almost a year researching and working with various resources and entities across Pakistan. The announcement of the 1839 Venture Funds – Pakistan Fund I, at the ATX+PAK Closing Ceremony is considered not only an exciting opportunity for our firm, but it is a big win for the City of Austin, and for the Pakistani startup ecosystem.
As one of the first – if not the only – U.S. based Pakistan venture capital fund solely dedicated to Pakistani startups. The launch of this fund is looked at by many as a significant achievement for an emerging market like Pakistan. The fund’s primary goal is to invest in companies that can scale internationally and ultimately enter the U.S. market.
The thesis-based fund intends to engage in a multi-stage investment approach in order to provide funding for high-potential promising companies across Pakistan and should provide a source of extremely useful funding for exceptional entrepreneurs who operate technology-oriented startups.
Our Continued Commitment
1839 Ventures® has reaffirmed its commitment to continue working with Dr. Umar Saif Chairman the founding Vice Chancellor of Information Technology University (ITU) Punjab, Chairman Punjab Information Technology Board (PITB), and the rest of the team at PITB’s Tech Incubator Plan9 in order to maintain our close relationship and to further strengthen their programs.
Our firm’s continued dedication to the ATX+PAK Launch Entrepreneurship Program and our continued collaboration with the City of Austin, US Consulate Lahore, and representatives from the Greater Austin Asian Chamber of Commerce are what partly lead up to 1839 Ventures® being able to make this exciting announcement.
Both our Austin, Texas-based team and the newly established Lahore, Pakistan-based team members consider this a great win for the startup ecosystem of Pakistan and for the City of Austin.
