Aug 31, 2022
The Bangladesh Investment Development Authority (BIDA) has signed a Memorandum of Understanding (MoU) with US-based venture capital firm Anchorless Bangladesh for cooperation in investment promotion.
The MoU was signed during a programme chaired by BIDA Executive Chairman Md Sirazul Islam at BIDA’s Head Offices in Agargaon at 10am on Wednesday.
“BIDA is strongly focused on building strategic partnerships that will allow us to access investor communities in our target markets for foreign direct investment and equity investment,” said BIDA Executive Chairman Md Sirazul Islam. “BIDA and Anchorless Bangladesh will work together to design investment outreach that is targeted, customized and therefore more effective.”
“We at Anchorless strongly believe that Bangladesh is one of the best investment opportunities in the world with an incredible story to be told—and we look forward to working with BIDA to do so. We hope this partnership signals the continuous desire from the private and public sector in working towards a common goal: Increasing international investment in a thriving Bangladeshi economy to further strengthen the country's global positioning,” said Rahat Ahmed, Founding Partner and CEO of Anchorless Bangladesh.
Mohsina Yasmin, Executive Member, International Investment Promotion, BIDA, and Rahat Ahmed, Founding Partner and CEO of Anchorless Bangladesh, signed the MOU on behalf of their respective organizations.
The MoU includes provisions for attraction and facilitation of targeted global investments, joint promotion of investment opportunities in Bangladesh and abroad, attraction of high-value technology and high-impact investments in key priority sectors, and support and advisory relating to FDI and equity investment.
Anchorless Bangladesh is a New York-based investment fund that works to unlock business opportunities across Bangladesh by bringing in global capital. Founded in 2019, Anchorless Bangladesh has invested over $8 million in Bangladeshi startups across multiple verticals, including fintech, agriculture, education and logistics. The Anchorless Bangladesh team has experience in emerging markets public and private equity, venture capital and emerging technology startups.
Anchorless Bangladesh CEO Rahat Ahmed started investing in Bangladesh in 2004. He initially was active in the Dhaka Stock Exchange through his position as an investor at Prince Street Capital, and in 2016, he helped seed Pathao. His investors at Anchorless Bangladesh are primarily American and European.