Ministry of Commerce, VCPEAB to boost venture capital, startups together

A five-member delegation from Venture Capital and Private Equity Association of Bangladesh (VCPEAB) led by Shameem Ahsan, President of VCPEAB and General Partner of Pegasus Tech Ventures had a meeting with Ahasanul Islam Titu MP, State Minister, Ministry of Commerce at the Bangladesh Secretariat on Sunday.

During the meeting VCPEAB proposed initiatives included enhancing the 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 boost exports and attract foreign investment, reads a press release.

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

Commerce State Minister Ahasanul Islam Titu remarked, "The Ministry of Commerce, Export Promotion Bureau, and Business Promotion Council (BPC) will provide comprehensive support so that venture capital firms can attract more global investment and at the same time, the start-ups they invest in can promote their businesses in various countries."

Shameem Ahsan, President of VCPEAB, emphasizes "strategic initiatives to foster the growth of Bangladesh's venture capital, private equity, and startup ecosystem. He added, "Our efforts focus on capacity building, international partnerships, and expert consulting, aiming to boost economic growth by enhancing startups' contributions to exports and job creation. Together, we can pave a prosperous path for Bangladeshi venture capital, startups and SMEs".

VCPEAB works to strengthen the local startups 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.