500 Global plans to bring its world-class programs and continue to invest in Pakistan, as the country’s startup ecosystem gathers momentum, with JS Group as a local strategic partner
500 Global, one of the most active venture capital firms in the world, has partnered with JS Group, one of Pakistan’s leading financial services conglomerates, to support startups in Pakistan.
With this collaboration, 500 Global aims to bring its startup and investor education programs to Pakistan. It will also continue to scout for top founders and high-potential technology startups to invest in.
As the world’s fifth most populous market with a young population that is rapidly digitizing, Pakistan aims to become a regional technology hub. The number of venture-backed deals nearly quadrupled between 2018 and 2021 to 86, with funding rising more than 20-fold during the same period to $332 million. Pakistan is at a tipping point for global venture-backed deals, attracting $304 million in funding in the first nine months of 2022, 92% of total 2021 funding, according to data firm MAGNiTT.
The partnership underscores 500 Global’s mission of uplifting people and economies around the world through entrepreneurship. With $2.7 billion under management, the Silicon Valley-based firm has invested in more than 2,700 companies in 81 countries, and counts 49 unicorns in its portfolio (companies valued in excess of $1 billion). In addition to its investments, 500 Global has run more than 80 accelerator...
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