Economy, Sci & Tech

Iranian Launches Tech Investment Firm

Iranian Launches Tech Investment FirmIranian Launches Tech Investment Firm

One Planet Ops Inc., a US-based hybrid firm combining operating technology companies, angel fund and a startup business incubator, has been launched in California.

Set up by Payam Zamani, an Iranian Internet entrepreneur and angel investor, One Planet Ops will operate, incubate and invest in seed stage emerging technology businesses that have a significant potential for success PR Newswire writes.

The firm already operates (formerly, an online marketplace for the acquisition of locally-targeted consumer demand in the automotive, real estate and home improvement industries, and, an online network of local business owners in the United States.

Zamani has founded/cofounded and run several Internet businesses, including Reply! Inc. and Autoweb, an online car buying service, which completed a successful IPO in 1999, reaching a market cap of $1.2 billion.

Within the next year, One Planet Ops plans to invest in 10-15 seed and early stage startups, continue its incubation of two companies focused on home improvement and home ownership—both expected to launch during the first half of 2016—and expects to accept three to five new companies into its incubator program.

The company has not stated whether it is accepting startups from Iran, though Iranian startups can receive foreign funding if they incorporate their business plans abroad.