Gobi Partners Announces $50 Million Techseela Fund II with Bank of Punjab Partnership

Karachi:Gobi Partners, a leading Asian venture capital firm, has officially announced the launch of its $50 million Techseela Fund II in partnership with the Bank of Punjab (BoP). This strategic partnership aims to promote entrepreneurship in Pakistan and strengthen economic cooperation between the two entities.

The announcement was made during the Pakistan Investment Conference held in Shanghai, coinciding with the historic visit of Punjab Chief Minister Maryam Nawaz to China.

Maryam Nawaz is currently on an official visit to China from December 8 to 15, where she is touring major cities, including Beijing, Shanghai, Shenzhen, and Guangzhou. During her visit, she is focusing on key areas such as Information Technology, Healthcare, Environmental Management, and Climate Change. The trip is part of an effort to leverage China’s developmental model to benefit Pakistan.

The Techseela Fund II is designed to empower startups in Pakistan, focusing on high-growth sectors like FinTech, E-commerce, Logistics and Supply Chain, HealthTech, and SaaS. This new fund builds on the success of Gobi Partners’ first Pakistan-focused venture capital fund, which has already invested in 22 startups.

So far, these portfolio companies have impacted over 3.2 million low-income households and generated $245 million in total revenue in 2023. Additionally, the companies have disbursed $54 million in loans during the same year.

This partnership with the Bank of Punjab marks a significant step in enhancing Pakistan’s startup ecosystem and fostering long-term economic growth.