On a positive note at the end of TES2007, TIE Lahore announced that they are formally launching an Angel Investment Fund.
I’ve been asking pretty much everyone that I’ve been meeting for the past 6 months to formalize their interests in startup investments, and its good that someone finally took this step.
They said details of their process will be announced later, but I suspect these people will make $50,000 – $100,000 investments in chosen companies.
The TIE Members who have come together for this fund include the following (Update: Actually I dont have the full list with me so it would be great if someone can dig this info up and write it there):
- Dr. Khalid Chowdry – Chairman and CEO of Mediapak, and President of TIE Lahore
- Syed Babar Ali – Founder, Packages Limited
- Monis Rahman – CEO, Naseeb Networks / Rozee
This is certainly a commendable step towards promoting real startups in the country, and given that this is a formal fund with stakeholders from diverse backgrounds and industries, and will have a proper evaluation process, transparency is guaranteed.