Startup Bangladesh Ltd, a government-backed venture capital and fund management firm under the country’s Information and Communication Technology Division, launched a request for expressions of interest for the Bangladesh Fund of Funds, with an initial size of BDT 400 crore (US$32.7 million).

The fund will seek to mobilize local, international, and development capital through professional venture capital fund managers.

Startup Bangladesh said the goal is to strengthen Bangladesh’s venture capital market and support high-potential startups in the country.

Bangladeshi startups have raised about US$1.2 billion over the past decade, while local investors provided only around 7% of the capital deployed, according to Startup Bangladesh.

The fund of funds is intended to help close that gap by using public capital to attract larger pools of private, institutional, and international investment, the firm said.

🔗 Source: Startup Bangladesh Limited