Fenox Venture Capital Launches $200 Million Fund for Bangladesh Startups

SAN JOSE, Calif., Dec. 1, 2014 /PRNewswire/ -- Fenox VC is launching a $200 million fund to invest in Bangladesh's technology, Internet and media sectors. Creation of the new fund marks the first time a venture capital company from Silicon Valley has launched business operations in Bangladesh.

Fenox was founded in 2011 to invest in the most promising startups in global locations. Fenox supports companies with funding and guidance to help run operations, enter new international markets, and manage eventual exits through acquisitions or IPOs.

"I am honored to be a part of Fenox VC," said Shameem Ahsan. "This partnership will help to realize the vision of 'One Bangladesh' and help local IT companies become global and highly profitable with the help of Fenox's strategic advice, global network and financial support."

Fenox Co-founder and CEO Dr. Anis Uzzaman said, "We are very delighted to welcome veteran tech industry leader Shameem Ahsan as a General Partner at Fenox VC. The Bangladesh tech sector has tremendous potential and Fenox VC is creating a fund specifically to invest there. Fenox will play a catalytic role in promoting the advanced practices of Silicon Valley to Bangladeshi entrepreneurs, while also helping them through the global network of Fenox Venture Capital."

Prominent serial entrepreneur Shameem Ahsan, an angel investor and President of the Bangladesh Association of Software & Information Services (BASIS), has been named a General Partner of Fenox Venture Capital, a leading Silicon Valley-based venture capital firm.

About Shameem Ahsan

Shameem Ahsan is a technology entrepreneur and the co-founder of Akhoni.com Ltd., eGeneration Ltd., Benchmark-eGeneration Ltd., and Element 5 Ltd. He also serves as Director of Agrani Bank Ltd. In Bangladesh. He earned the "Best Young Entrepreneur of Bangladesh" award from the Prime Minister of Bangladesh at the Dhaka Chamber of Commerce Business Awards.

Ahsan is a member of the Prime Minister's Digital Bangladesh Task Force, Government of Bangladesh, which is the highest policy-making body to monitor and implement the vision of building "Digital Bangladesh." He is also the Co-Chairman of the Standing Committee on Digitization of Trade Bodies of Federation of the Bangladesh Chamber of Commerce & Industry.

ABOUT FENOX VENTURE CAPITAL

The Silicon Valley-based VC provides early and growth-stage funding to emerging technology companies in North America, Japan, Southeast Asia, and Europe. Fenox invests globally in consumer Internet, new media, health technology and enterprise solutions. Its recent investments include ShareThis, Sidecar, Jetlore, Meta, TechinAsia, Lark, and Dream Link Entertainment among others.

MEDIA CONTACT

Jon Teel
Gutenberg Communications
408-603-7772 
[email protected]

Photo - http://photos.prnewswire.com/prnh/20141124/160684
Photo - http://photos.prnewswire.com/prnh/20141124/160683LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/fenox-venture-capital-launches-200-million-fund-for-bangladesh-startups-300000930.html

SOURCE Fenox Venture Capital