BSEC to help boost startup, venture capital ecosystem: Chairman

Bangladesh Security Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam on Wednesday (July 15) said they will help to enhance the Startup and Venture Capital Ecosystem in the country.
 
He made the remark at a video conference. Chairman of Venture Capital and Private Equity Association of Bangladesh (VCPEAB) Shameem Ahsan, General Partner of Pegasus Tech Ventures (former Fenox Venture Capital) and others also took part in the webinar.
 
BSEC Chairman said they will give support to work with VCPEAB on policies to nurture the emerging industry.
 
"BSEC has been working to make the investment environment easier and transparent. We will definitely accommodate relevant changes for the venture capital and private equity enterprises," he added.
 
VCPEAB chairman discussed different initiatives related to strengthening the venture capital, private equity and startup ecosystem.
 
"We requested for policy support to create a sustainable venture capital industry. The possible contribution by venture capital and private equity investments to boost trade, innovation, export and help create home-grown startups that can contribute to the securities market in Bangladesh," he added.
 
Shameem urged to expand the scope of venture capital and private equity industry with policy support to assist them to contribute to the economy through their investment in innovative startups.
 
"These startups can create an ecosystem that can contribute up to 2 percent of the country's GDP by 2025," he also said.
 
He added that the successes of global companies like Google and Facebook is not only attributed to their founders but also to the VC investors like Sequoia Capital, Accel Partners and Greylock partners among others who supported them while they were only startups. "Similarly, the best companies from Bangladesh will emerge with the investments of venture capital and private equity funds," he also added.
 
BSEC Commissioner Dr Shaikh Shamsuddin Ahmed, General Secretary of VCPEAB Shawkat Hossain, CEO of IDLC Arif Khan, Managing Director of Maslin Capital Ltd Waliul Marrof Matin, Managing Director of BD Venture Limited Shafique-ul-Azam, Managing Director of SEAF Bangladesh Ventures LLC Asif Mahmood, Managing Director and  CEO of Alliance Capital Asset Management Limited Kh. Asadul Islam; Chief Executive Officer of Lanka Bangla Asset Management Company Ltd Masum Ali, Managing Director and  CEO of Impress Capital Limited Meer Sajed-Ul-Basher, Chief Investment Officer of Athena Venture and Equities Ltd Mahadi Hasan, Investment Associate of Bangladesh Venture Ltd Anower Jahid participated in the discussion.