US fund commits $10 million for startup investment initiative led by Pakistani tech leaders
ISLAMABAD: The JR Dallas Tech Fund on Friday announced a 'groundbreaking' $10 million commitment to globally recognized technology leaders, Pakistan's Mehwish Salman Ali and Malik Mudassir, to spearhead an exclusive US-focused startup investment initiative.
Under the agreement, Ali and Mudassir will receive $10 million in dedicated capital to identify, evaluate, and invest in high-potential startups planning to scale operations in the United States. The duo will serve as lead investment partners with full authority to deploy capital across artificial intelligence, cloud computing, digital health, and frontier technology ventures.
'We are entrusting $10 million to two of the most visionary technology leaders of our generation,' said Jehangir A. Raja, Managing Partner at JR Dallas Tech Fund.
'Mehwish and Malik represent the perfect combination of technical expertise, entrepreneurial success, and strategic vision needed to identify the next generation of game-changing startups ready to conquer the American market.'
According to the statement by JR Dallas, economic impact projections of the funding include direct job creation, with portfolio companies expected to generate 300-500 high-skilled technology positions within 24 months.
The target investment range is $250,000 to $1.5 million per startup and focus areas are AI/Machine Learning, Cloud Infrastructure, Digital Health, Quantum Computing, Cybersecurity.
The portfolio size will be 15-20 carefully selected companies over 24 months.
The commitment will also strengthen Texas as a hub for international tech talent entering the US market and accelerate breakthrough technologies in AI, health care, and cloud infrastructure. Portfolio companies are also projected to contribute $50-100 million in US economic activity within three years.
Ali is the founder and CEO of Data Vault, Pakistan's first solar-powered and quantum-encrypted AI data center, co-founder of Zahanat AI, the country's first indigenous GPT model, and COO of AppsGenii Technologies.
As a TEDx speaker and Forbes Technology Council member, Ali's track record in AI innovation, cybersecurity, and operational excellence 'makes her uniquely qualified to identify transformative technologies ready for US market expansion,' JR Dallas said.
Mudassir is the founder & CEO of AppsGenii Technologies, operating across the US, UK, and Pakistan, and co-founder of multiple successful ventures including GharPar, BoxesGen, and Dental Connect. He is also a Central Executive Committee Member at P@SHA, Pakistan's largest IT trade association.
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