State of venture capital and startups in Pakistan

12280 NE District Way,Bellevue WA 98005

16 November, 2022

Description

Background In Q3 2022, Pakistani startups raised $65.5M in funding, bringing our 2022 YTD to $340M (In 2021, startups raised $350M). However, in Q3 2021, Pakistani startups raised $177M. This funding slowdown may just have also been a function of the summer being slow or startups waiting to raise when market conditions were better. Despite summer slow down and other macroeconomic factors, we continue to see more tier-1 VCs invest in Pakistan. For the positives, we saw "Dbank" raise $17.6M from Kleiner Perkins & Sequoia, marking Sequioa's first check into Pakistan and fintech overall raised the most amount of funding (58% ) vs e-commerce, 19%. We also saw real acquisitions this quarter, w/ the acquisition of Cloudways for $350M, and a lot of local consolidation in the market (Postex acq Call Courier, VentureDive acq NexDegree). Join us on November 16th, 2022 to hear more about all of these updates, and state of venture capital and startups in Pakistan, . Agenda 6:00-6:30 PM: Meet and greet. 6:30-7:30 PM: Presentation and fireside chat with Kalsoom Lakhani 7:30 PM onward: Snacks, refreshments and networking