There’s no doubt that the business sector of Pakistan is making huge strides resulting in more international firms finally taking interest in investing in the country and rapidly increasing number of startups in the country.
However, there’s always been a dire need of a dedicated Venture Capitalists (VC) firm that could help startups and firms to achieve their goal. Lakson Investment, which is one of the biggest assets managers in the country, has been issued the first VC license in Pakistan.
For those who are not familiar with the firm, the private sector asset manager currently holds approximately US $300 million in investment, with a rating of AM2+. Adding to that, Lakson Investments got the approval to set up private equity (PE) firms and venture capital fund from SECP in October 2016, under the Private Funds Regulations, 2015.
Moreover, considering the fact that Lakson Investment has been looking to build its team in order to raise equity from high net worth investors, it is highly likely that the venture capitalist firm will make use of all its financial instruments, such as private equity funds, infrastructure funds, debt funds etc. in order to accomplish its goal. The company’s teams and offices will be based in Karachi, Lahore and Islamabad.
CEO of Lakson Investments had this to say about the development:
“In Q4 2016, LI launched Lakson Investment Private Equity (“LI PE”) , which is led by a senior team of partners who were previously Directors at Goldman Sachs and Abraaj. This PE Fund is currently in pre-launch and expects to be investing by the fall of 2017.”