Pakistan-focused VC firm Sarmayacar secures first close of $30m early-stage fund

Sarmayacar is a Pakistan-focused VC targeting seed and early-stage tech startups.

Pakistan-focused venture capital firm Sarmayacar has secured the first close of a $30-million fund targeting seed to early stage startups in the country.

Fundraising for the largest Pakistan-focused fund comes at a time when startups in the country are struggling to find sufficient investors and funding.

According to an official statement, the fund will cover technology and technology-enabled sectors with ticket sizes between $100,000 and $2 million. The VC firm will be led by founder and Chief Executive Officer Rabeel Warraich and international partner Dr Bernhard Klemen.

“We are excited about the emerging opportunities in the country, particularly in the venture space, underpinned by attractive demographics and a strong digitisation push across many segments of the economy,” said Warraich.

Klemen said the fund aims to provide value-added capital through its network of investors to address the lack of “smart capital” in the market.

“The stage of development of the entrepreneurial ecosystem in Pakistan allows us to build bridges and bring learning and expertise from international ecosystems,” he added.

According to Crunchbase, Sarmayacar has made three investments – PublishEx, a carrier billing company; ProCheck, a patient engagement services provider; and Patari, an online music portal.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.