The Daily Corporate Desk
Dhaka, 20 August 2026: Bangladesh Startup Investment Company (BSIC) PLC has appointed Waiz Rahim as its first Managing Director and Chief Executive Officer, marking a key leadership milestone for the country’s newly established, bank-backed venture capital platform.
The appointment comes as BSIC prepares to move from institution-building to deploying capital into high-growth Bangladeshi startups. The company was established under the guidance of Bangladesh Bank and is backed by 39 commercial banks, with the objective of mobilising domestic institutional capital for the country’s startup and innovation ecosystem.
BSIC launched its inaugural fund, Onkur Bangladesh Fund 1, in May with committed capital of Tk425 crore (around US$35 million). The fund is designed to invest across the seed, late-seed and Series A stages and co-invest alongside domestic and international investors.
From venture investing to institutional leadership
Rahim brings experience from both the investment and operating sides of the startup ecosystem. Before joining BSIC, he served as a venture partner at Sturgeon Capital, where he focused on investments in Bangladesh. He previously founded and led Deligram, an omnichannel e-commerce company, and has also worked in technology consulting and entrepreneurship.
His experience includes raising more than US$2.5 million from institutional investors in Singapore and New York, giving him direct exposure to the challenges Bangladeshi startups face in accessing international venture capital.
Rahim holds a degree in Industrial and Systems Engineering from the University of Southern California.
A new source of domestic startup capital
BSIC’s structure is particularly significant for Bangladesh’s startup market because it is designed as a recurring institutional funding mechanism, rather than a one-off venture fund.
Participating banks are required under the central bank framework to contribute 1% of their annual net profits to startup equity funding. As a result, BSIC’s capital base is expected to grow over time, with the fund projected to exceed Tk1,000 crore within five years.
The initiative comes at a time when Bangladesh’s startup ecosystem has historically relied heavily on foreign investors. BSIC is intended to channel a larger share of the country’s domestic financial resources into technology-driven and scalable businesses while creating opportunities for international co-investment.
Investment pipeline ahead
BSIC has set an ambitious initial investment roadmap. The platform is expected to complete its first three startup investments by the end of 2026, while targeting a portfolio of around 8–12 companies by 2028. Exit opportunities are expected to be explored from 2029 through potential stock-market listings or direct stake sales.
The fund’s focus on seed through Series A companies could provide much-needed growth capital to startups that have moved beyond the idea stage but still face difficulty securing institutional financing for product development, market expansion and scaling.
For Bangladesh’s startup ecosystem, the appointment of a permanent MD and CEO therefore represents more than a leadership change. It signals the beginning of a new phase in which institutional domestic capital, professional venture management and international investment networks are expected to converge around the next generation of Bangladeshi businesses.
