Gobi Partners, in collaboration with the Bank of Punjab (BoP), has launched the Techxila Fund II, a $50 million initiative aimed at boosting Pakistan’s growing startup ecosystem. The fund is specifically designed to support promising new businesses in key sectors such as financial technology (fintech), e-commerce, health technology, logistics, and software-as-a-service (SaaS).
This initiative follows the success of Gobi Partners’ first fund, which invested in 22 startups across various industries. These investments had a significant impact, particularly on low-income households, helping millions of people gain access to essential products and services. With the launch of Techxila Fund II, the focus will remain on fostering innovation and building businesses that can make a real difference in people’s lives.
A Memorandum of Understanding (MoU) has been signed between Gobi Partners and the Bank of Punjab, laying out plans for collaboration. The MoU includes support for startups through preferential financing options, equity investments to help them grow, and mentorship to guide entrepreneurs as they scale their businesses.
The launch was met with praise from Punjab Chief Minister Maryam Nawaz Sharif, who highlighted the fund’s potential to create jobs, empower young entrepreneurs, and bring innovative solutions to the market. She emphasized that supporting startups is crucial for driving economic growth, addressing unemployment, and improving Pakistan’s standing in the technology and business sectors.
The Techxila Fund II is expected to play a key role in nurturing Pakistan’s entrepreneurial talent, strengthening the country’s startup ecosystem, and attracting further investment into the region. With support from Gobi Partners and BoP, startups will have better opportunities to grow, succeed, and contribute to a more innovative and prosperous Pakistan.
