This is huge news for the Pakistani tech ecosystem, as the funds aim to invest in high growth and high tech ventures in the country.
The MoU and official announcement happened on 23rd of March, during the Malaysian President’s visit to Pakistan on a national day.
The Gobi manages six funds and has offices in China, Hong Kong, Malaysia, and Singapore. In Pakistan, the fund will be managed with the help of a local partner, Fatima Ventures. Fatima Ventures is the capital arm of Pakistani business leader Fatima Group which works in textile, sugar, trading, mining and other traditional businesses for over 8 decades.
Started in 2012, Gobi Partners has been focused on investing in IT and digital media investments in China and ASEAN region.
The venture capital firm believes that companies dealing at the convergence of telecom, media and technology are going to be the next big things and can help move the digital world forward.
Fatima Ventures has previously invested in MangoBaaz, Beauty Hooked whereas Gobi Partners last year invested in SastaTicket.pk.
This move by Gobi Partners is bound to bring more international investments in Pakistani startup space.
They focus on early stage, IT and digital media. Fatima Ventures, is an Early Stage VC Fund. They invest in Scalable Tech Companies. They invest in passionate, creative, and visionary founders.