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Express Tribune
a day ago
- Business
- Express Tribune
US fund commits $10m to Pakistani startups
Listen to article A US tech fund has committed $10 million to two Pakistani IT entrepreneurs and IT experts have praised this move as it looks promising for the future. Tech analyst and expert Muhammad Yasir said that Pakistani IT firms are penetrating different traditional and non-traditional markets with their innovative products and services, which is a positive sign. Attracting investments from US-based companies will not only boost business growth and expansion of Pakistani IT companies but it will also improve the image of the country in the relevant sector, opening doors for other companies in high-end markets such as the US and EU. Pakistani IT companies need to reach more similar investors and venture capitalists in major traditional markets like the US, EU and non-traditional markets like the UAE and Saudi Arabia to expedite the overall growth of Pakistani IT exports and expansion. JR Dallas Tech Fund, the premier private investment arm of JR Dallas Wealth Management, announced a groundbreaking $10 million commitment to globally recognised technology leaders Mehwish Salman Ali and Malik Mudassir to spearhead an exclusive US-focused startup investment initiative. Under this landmark agreement, Mehwish Salman Ali and Malik Mudassir will receive $10 million in dedicated capital to identify, evaluate, and invest in high-potential startups planning to scale operations in the US. 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." This $10 million commitment specifically targets startups with proven capabilities seeking to establish or expand operations within the US, creating a direct pathway for international innovation to contribute to American economic growth. The investment is likely to generate positive economic impacts as these companies are expected to generate 300-500 high-skilled technology positions within 24 months. Portfolio companies are projected to contribute $50-100 million in US economic activity within three years and accelerate breakthrough technologies in AI, healthcare, and cloud infrastructure. Mehwish Salman Ali brings unparalleled expertise as Founder & CEO of Data Vault, Pakistan's first solar-powered and quantum-encrypted AI data centre, Co-Founder of Zahanat AI, the country's first indigenous GPT model, and COO of AppsGenii Technologies. Malik Mudassir commands respect as 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. The $10 million fund operates under a rigorous investment framework designed to maximise both financial returns and economic impact: "Receiving this $10 million commitment from JR Dallas Tech Fund represents more than capital; it's a mandate to bridge the gap between global innovation and American market opportunity," said Mehwish Salman Ali. "We are committed to identifying startups that not only promise exceptional returns but also contribute meaningfully to US technological leadership." Malik Mudassir added, "This $10 million investment enables us to support visionary entrepreneurs who understand that scaling in America requires more than great technology it demands deep market insight, operational excellence, and strategic partnership. We're here to provide all three."
Business Recorder
2 days ago
- Business
- Business Recorder
US fund taps Pakistani tech duo with $10mn to lead startup investment initiative
The JR Dallas Tech Fund has announced $10 million investment to Pakistani technology leaders Mehwish Salman Ali and Malik Mudassir, entrusting them to inject the fund into exclusive US-focused startup investment initiatives, Business Recorder learnt on Friday. 'Under this landmark 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 (AI), cloud computing, digital health, and frontier technology ventures,' a press statement read. '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, which is the premier private investment arm of the US-based JR Dallas Wealth Management. Forbes Technology Council: Pakistani-origin Mehwish selected as member The two Pakistani technology leaders are running their offices in Karachi and Lahore. They represent '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,' Raja added. Mehwish Ali is a founding CEO of Data Vault that is claimed to be Pakistan's first solar-powered and quantum-encrypted AI data center. She is a co-founder of Zahanat AI, the country's first indigenous GPT model, and COO of AppsGenii Technologies. She is a TEDx speaker and Forbes Technology Council member. Mudassir is founding CEO of AppsGenii Technologies, operating across the US, UK, and Pakistan. He is a co-founder of ventures including GharPar, BoxesGen, and Dental Connect. He is also a member of the Central Executive Committee at P@SHA (Pakistan Software Houses Association). According to the statement, the $10 million fund operates under a rigorous investment framework designed to maximise both financial returns and economic impact. Startup Neem enters logistics space with Leopards Courier Services partnership The investment is targeted to be in the range of $250,000 to $1.5 million per startup. The investment should be focused in the sectors like AI/machine learning, cloud infrastructure, digital health, quantum computing and cybersecurity. The investor is aimed at investing the entire fund into 15-20 select companies over a period of two-year in the US-focused projects. The funding is projected to enable portfolio companies to create direct jobs, generating 300-500 high-skilled technology positions within 24 months. Strengthening Texas as a hub for international tech talent entering the US market. Accelerating breakthrough technologies in AI, healthcare, and cloud infrastructure. 'Portfolio companies (are) projected to contribute $50-100 million in US economic activity within three years,' the statement read.
