Business Desk 
Dec 14, 2024
As Pakistan has been grappling with economic hurdles, particularly in its growing startup ecosystem, Gobi Partners has emerged to set them aside and propel the Asian nation on track to growth.
The pan-Asian venture capital firm has launched the $50 million Techxila Fund II and signed a memorandum of understanding (MoU) with the Bank of Punjab (BoP) to uplift Pakistan’s entrepreneurial sphere.
The venture capital firm conveyed the announcement during the Pakistan Investment Conference in Shanghai which was part of Punjab Chief Minister Maryam Nawaz’s eight-day visit to China.
The Techxila Fund II was launched to back Pakistan's startups in fintech, e-commerce, health tech, logistics, and SaaS. Once executed in full swing, the fund will transcend Pakistan's innovative startups beyond borders, while catalyzing under-served entrepreneurs and sustainable growth in emerging markets.
The fund expands upon the success of Techxila Fund I, which led 22 startups toward success. ProPakistani noted that these funds resulted in supporting 3.2 million low-income households, procuring $245m in revenue, and issuing $54m in loans last year.
The partnership between Gobi Partners and BoP will assist potential startups with equity investments, preferential financing, and improved credit access.
It's worth noting that while providing much-needed aid to the country's frail startup space, the fund from the Asia-focused venture capital giant also includes mentorship programmes and financial products designed to boost growth.
