Dhaka: The Dhaka Chamber of Commerce and Industry (DCCI) president, Ashraf Ahmed, has emphasized the need to popularize Private Equity (PE) and Venture Capital (VC) in Bangladesh as a strategy to expand small enterprises. The DCCI president expressed his views during a discussion titled 'Connecting Innovative SMEs and Startups with Private Equity and Venture Capital Firms for Bridging Financing Gap,' held at the DCCI premises. According to Bangladesh Sangbad Sangstha, Ahmed highlighted the importance of building a knowledge-driven economy for Bangladesh's future, stressing that new ventures require a supportive ecosystem to thrive. He pointed out that patient equity funding from venture capital firms is critical for success, as traditional banks are not well-equipped to finance innovation. Banks typically focus on the valuation of physical assets, which can be a limitation for businesses creating Intellectual Property (IP). The discussion also featured insights from Professor Mohammad Abdul Momen, former di rector of the Institute of Business Administration (IBA) at the University of Dhaka. He highlighted the need for a conducive policy regime to nurture the growing number of innovative startups in Bangladesh, which are crucial for the country's overall economic development. Professor Momen urged young innovators to patent their inventions for future protection. Additional perspectives were provided by Mohammad Ashraf Hossain, Head of Compliance and Company Secretary at Maslin Capital Limited; Shawkat Hossain, CEO of Bangladesh Venture Capital Limited; Jasim Mohammad Miah, Investment Manager at X Angel Limited; and M M Ehsan Nizamee, CEO of Finager Fintech. These speakers noted the challenges faced by tech companies in the valuation audit process due to their intellectual assets, emphasizing that venture capital and private equity investors could serve as alternative financing options beyond traditional banking avenues for SMEs and startups. The event saw participation from eight representatives of PE and VC f irms, alongside 14 startup companies and 26 SME companies. Members of the Board of Directors and other distinguished guests were also present at the meeting.
