Karachi: Gobi Partners, a leading pan-Asian venture capital firm, officially announced the $50 million Techxila Fund II and signed a Memorandum of Understanding with Bank of Punjab (BoP). This strategic partnership aims to promote business and strengthen economic cooperation in Pakistan.
The announcement was made at the Pakistan Investment Conference in Shanghai, which was part of Punjab Chief Minister Maryam Nawaz Sharif’s historic visit to China from December 8-15.
The delegation visited important cities such as Beijing, Shanghai, Shenzhen and Guangzhou, focusing on cooperation in information technology, health care, environmental management and climate change. The visit aims to foster deeper trade and investment ties by learning from China’s development model.
Techxila Fund II is designed to empower startups in Pakistan with a focus on high-potential industries such as fintech, e-commerce, logistics and supply chain, healthcare technology and SaaS. These initiatives support underserved entrepreneurs, encourage innovation and drive sustainable growth in emerging markets.
The plan to launch the $50 million Techxila Fund II builds on the success of the Pakistan Gobi-focused venture capital fund (Techxila Fund I), which has invested in 22 startups so far. These portfolio companies collectively impact 3.2 million low-income families, generate $245 million in revenue by 2023 and issue $54 million in loans during that year.
Notable investments include PriceOye, Pakistan’s second largest e-commerce platform; DealCart, a social shopping platform offering affordable groceries; and Abhi, a financial platform that offers innovative credit solutions for businesses and individuals, among others.
The fund has also attracted support from institutional investors such as BII and other Gobi investors and has demonstrated its ability to support high-impact businesses that drive growth and create value in underserved markets.
Partnering with BoP creates a strong foundation for developing Pakistan’s entrepreneurial ecosystem. The main areas of partnership include debt financing with the highest prices, investments in high-growth companies, and access to bank credit lines for scale operations.
The partnership will create specific financial products for startups, develop joint marketing efforts and offer a mentoring program. In addition, BoP will have early access to select deal streams from Gobi, enabling it to identify promising investment opportunities that align with its strategic objectives.
I would like to express my immense gratitude to the Chief Minister of Punjab, Maryam Nawaz Sharif, Gobi Partners for their unwavering support and commitment to Pakistan’s startup ecosystem. It will help catalyze Pakistan’s entrepreneurial community and innovation initiatives, create jobs and strengthen our digital and technological landscape. “
He also suggested developing a strategic framework for collaboration and cooperation between Gobi Mitra and the Punjab Government.
Thomas G Tsao, Co-Founder and Chairman, Gobi Mitra, said: “The launch of Techxila Fund II and our partnership with Punjab Bank demonstrate our commitment to foster innovation and support entrepreneurs in Pakistan. Together, we aim to create sustainable economic opportunities for long-term growth long”.
“This partnership is an important step to strengthen Pakistan’s startup ecosystem and open up new opportunities for growth and innovation,” said Zafar Masood, President and CEO of BoP.
