Bangladesh Startup Investment Company (BSIC) PLC has appointed Waiz Rahim as Managing Director and CEO, a step the company describes as the start of its next phase in building an institutional venture capital platform in Bangladesh.

BSIC was established by 39 commercial banks under the guidance of Bangladesh Bank to mobilize domestic institutional capital for high-growth startups and strengthen the country's venture capital and innovation ecosystem. With its institutional framework now in place, the company is preparing to commence investment operations, with an initial focus on the country's late-seed and Series A funding gap.

Rahim was most recently Venture Partner for Bangladesh at Sturgeon Capital, a London-based venture capital and private equity firm managing US$300Mn across Central Asia, Pakistan, and Bangladesh, where he worked on investment sourcing, due diligence, and portfolio development. In 2017, he founded Deligram, an omnichannel commerce platform converting neighborhood grocery stores into an e-commerce fulfillment network, and raised over US$2.5Mn in Seed and Series A funding from institutional investors in Singapore and New York. He holds a degree in Industrial and Systems Engineering from the University of Southern California.

As MD and CEO, Rahim will lead the build-out of BSIC's investment platform and executive and investment teams, establish institutional investment and governance processes, and develop partnerships with domestic and international investors, alongside deploying capital into Bangladeshi startups and technology-driven businesses.

Mashrur Arefin, Chairman of BSIC, said, "BSIC was established with a long-term vision—to build the institutional foundations of venture capital in Bangladesh. The appointment of our Managing Director & Chief Executive Officer marks an important milestone in that journey." He added, "Waiz brings a rare combination of venture investing experience, entrepreneurial perspective, and institution-building capability. We are confident that under his leadership, BSIC will develop into a disciplined and professionally managed investment platform capable of creating sustainable long-term value for our shareholders while contributing meaningfully to Bangladesh's startup ecosystem."

Rahim said, "It is an honor to join BSIC at such an important stage of its journey. Bangladesh has an increasingly strong pipeline of entrepreneurs building globally competitive companies, and there is a clear opportunity to deepen the pool of institutional capital available to them." He added, "My focus will be on building a high-performing investment institution founded on strong governance, disciplined investment processes, and meaningful partnerships with local and international investors. Over time, I hope BSIC becomes a trusted long-term partner to founders and a catalyst for the continued growth of Bangladesh's innovation economy. Despite the many challenges that our economy faces, I am optimistic that Bangladesh will transform itself over the next decade."

BSIC's leadership team is still being formed, with several positions open, as the company prepares to launch its investment activities.