Fatima Gobi Ventures announced the close of its $20 million debut fund named ‘Techxila Fund I’. The announcement was made at Pakistan’s premier entrepreneurship conference ‘The Nest I/O – 021 Disrupt’.
The Venture Capital firm said that almost seventy percent of the targeted size has been realized up till now while rest of it will be secured before the year end.
Fatima-Gobi Venture is the Venture Capital Firm formed Last year with collaboration from Fatima Group of Pakistan and Asian VC Gobi Partners.
The firm hasnt mentioned any specific details about the fund but have said that the fund includes entrepreneurs from various industries including banking, Agriculture, Textile and energy. One of the Investor in the Fund includes Souq’s former CFO Asif Keshodia.
Fatima Gobi fund has already made five investments and aims to invest in another Ten startups. Fatima Gobi Ventures focuses on seed-stage and Series A startups across various niches including travel, logistics, fintech, healthcare, education, ecommerce, consumer tech, industrial internet.
Fatima Gobi Venture has already invested in Sastaticket, Airlift, and Tajir while has announced to invest in SafePay and InventHub.
‘Safepay’ is a fintech that has been building a Payment Gateway for Pakistan. It enables online businesses to receive online payments from their customers. The startup has built easy-to-use developer-friendly solutions that allow online businesses to set up payment integrations with their website or mobile app in minutes.
While InventHub is a San Francisco-headquartered startup with an engineering team in Pakistan. Founded by Pakistani Entrepreneur Usama Abid, it is a SaaS platform for inventors and hardware companies to collaborate on their projects, enabling them to develop hardware products better and faster. InventHub has One of the American Investor, Tim Draper.
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