Economy, Sci & Tech

Iranian Private Bank Funneling Funds to Tech Firms

Iran’s major private bank Pasargad through its venture capital fund Shenasa and startup accelerator Trig Up is set to boost its ties with startups and knowledge-based firms
Iran’s startup ecosystem has boomed in recent years. Iran’s startup ecosystem has boomed in recent years.
Just like many business insiders and professionals, Shenasa’s director is of the opinion that the main hurdle hindering Iranian startup ecosystem’s growth is not a lack of funds but “mismanagement of resources”

Privately owned Bank Pasargad is poised to increase its investment in startups and knowledge-based firms through its venture capital fund named Shenasa.
During a press conference on Wednesday, the VC’s director Hamed Sajedi outlining Shenasa’s activities told reporters that the fund is set to extensively increase its investment in Iran’s startup ecosystem and knowledge-based companies.
“Shenasa was founded some six years ago. Aiming to assist Iranian entrepreneurs, the VC has invested unceasingly in fledgling firms and startups,” Sajedi was quoted as saying by local technology website Shanbe Press.
According to the fund’s website, Shenasa registered as Pishgaman Amin Sarmayeh Pasargad was founded in 2012 and is one of the firs Iranian venture capital funds in the country. 
Furthermore, he noted that employing the fund’s financial potential, Bank Pasargad has established a startup accelerator named Trig Up.


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment