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24 June 2024


Business Insider Bangladesh

Commerce Ministry, VCPEAB will boost venture capital, start-ups together

BI Desk || BusinessInsider

Published: 00:43, 28 May 2024  
Commerce Ministry, VCPEAB will boost venture capital, start-ups together

File photo

A five-member delegation from the Venture Capital and Private Equity Association of Bangladesh (VCPEAB) led by its president Shameem Ahsan and General Partner of Pegasus Tech Ventures held a meeting with State Minister for Commerce Ahasanul Islam Titu at Bangladesh Secretariat in Dhaka on Sunday.

During the meeting, the VCPEAB proposed to take initiatives including enhancement of Export Promotion Bureau (EPB) and the Business Promotion Council (BPC) by increasing their funding and capabilities, as well as organizing international trade and investment seminars, B2B matchmaking and exhibitions to help to boost exports and attract foreign investment, reports BSS.

Nahid Afroz, Chief Executive Officer of Business Promotion Council (BPC), Ministry of Commerce; Zia Uddin Ahmed, Senior Vice President of VCPEAB and Chairman, VIPB Asset Management; Asif Mahmood, Vice President, VCPEAB and Managing Director, SEAF Bangladesh Ventures; Shafique-Ul-Azam, Vice President, VCPEAB and Managing Director, BD Venture Ltd and Shawkat Hossain, Director, VCPEAB & Managing Director, Bangladesh Venture Capital Ltd were also present in the discussion, according to a press release received here today.

State Minister for Commerce Ahasanul Islam Titu said, "The Ministry of Commerce, EPB and BPC will provide comprehensive support so that venture capital firms can attract more global investment and at the same time, the start-ups they can invest to promote their businesses in various countries."

Shameem Ahsan, President of VCPEAB, emphasized on strategic initiatives to foster the growth of Bangladesh's venture capital, private equity, and startup ecosystem.

He said, “Our efforts focused on capacity building, international partnerships, and expert consulting, aiming to boost economic growth by enhancing start-ups' contributions to exports and job creation. Together, we can pave a prosperous path for Bangladeshi venture capital, start-ups and SMEs”.

The VCPEAB works to strengthen the local start-ups and Venture Capital and Private Equity firms and help them become much more visible and dominant enough to compete in this era of global challenges and competition.

Other than the local members, VCPEAB is working closely with many local and foreign venture capital companies and associations to promote investments in Bangladesh.

Walton