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Startup Bangladesh Limited and LightCastle Partners signs contract for ‘ShotoBorshe Shoto Asha’ – VC Fund

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LightCastle Analytics Wing
April 24, 2022
Startup Bangladesh Limited and LightCastle Partners signs contract for ‘ShotoBorshe Shoto Asha’ – VC Fund

LightCastle Partners has recently signed a contract agreement with Startup Bangladesh Limited, the only flagship venture capital fund of the ICT Division sponsored by the Bangladesh Government, to continue working as a Buy-side Advisor and Due Diligence Partner. 

Startup Bangladesh Limited launched a US$65 Mn (Tk 500 Cr) fund to disburse to the nation’s top startups last year. The fund, which is called ‘ShotoBorshe Shoto Asha,’ has invested in 15 startups as of April 2022 and it aims to back a total of 50 companies. 

The startups receiving funding to date are:

  1. Pathao, the largest local ride-sharing and logistics platform
  2. Chaldal, the largest grocery eCommerce
  3. Sheba.xyz, the largest online SME services platform
  4. Intelligent Machines, a frontrunner AI/ML SaaS
  5. EduHive, a fast-growing edutech firm
  6. DhakaCast, a fast-growing health-tech startup
  7. Moner Bondhu, a mental health startup.
  8. 10 Minute School, Largest Online EdTech Platform in Bangladesh
  9. Frontier-Nutrition, Nutritious, Affordable, and Delicious Fortified Packaged Foods for LIC
  10. Hello Task, Reskilling Bangladesh’s Domestic Workers
  11. iFarmer, Democratizing agriculture financing and supply chain in Bangladesh
  12. Loop, Redesigning Next Generation Logistics for Bangladesh and South Asia
  13. Shuttle, Offering Safe and Affordable Transportation for Women
  14. Truck Lagbe, Bangladesh’s #1 technology platform for booking trucks
  15. Zantrik, Digitizing and standardizing the automotive maintenance industry

LightCastle Partners and The Legal Circle act as Buy-side Advisors and Due Diligence Partners to Startup Bangladesh Limited, the flagship venture capital fund of the ICT Division.


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WRITTEN BY: LightCastle Analytics Wing

LightCastle Analytics Wing is the research division of LightCastle Partners. It is tasked with producing periodic reports on the different sectors of the economy, analyzing trends in markets and making methodical, thorough and intelligent analysis to improve strategy and drive business growth.

For further clarifications, contact here: [email protected]

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