500-Global, which is undoubtedly one of the most active US-based venture capitalist firm, has now partnered up with JS Group which is Pakistan’s prominent financial sector’s conglomerate to back startups in Pakistan.
Six years ago this US-based VC firm, 500-Global, did make its first investment in Pakistan. With US$2.7 billion in assets under its management it has so far invested in more than 2,700 firms across 81 countries in which there were 49 unicorns. This VC firm did run over 80 accelerator programs worldwide which helped startups with the right guidance and tools they needed to grow. They also have their teams spread across 27 countries.
This partnership highlights 500-Global’s vision of uplifting people and the economies worldwide with the tool of entrepreneurship. Through this 500-Global aims to bring its exceptional startup and investor education programs to Pakistan that will help the organization to look for technology startups with potential and innovative founders.
JS Group plans to continue providing support to the Pakistan’s startup ecosystem that leads towards creating more employment opportunities and a fully supported wave of entrepreneurs. JS Group already has a track record of supporting several SMEs and startups with investments over the country, taking them from seed to IPO.
Courtney Powell, the Chief Operating Officer and the Managing Director of 500-Global mentioned that they have been observing the Pakistan’s startup ecosystem evolving and believes that with JS Group’s experience with being a leading and a prominent financial institution in Pakistan along with 500-Global’s experience with investing into early-stage technology startups will make both of the organizations in a better position to help the next generation of entrepreneurs with helping them build strong foundations for their startups and helping them scale.
Both of the organizations believe that the current macro-economic challenges the country’s facing can be solved by supporting the country’s innovative entrepreneurs that can do wonders in Pakistan.