Latest news with #US-focused
Express Tribune
4 days 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
4 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.
Yahoo
6 days ago
- Business
- Yahoo
Should we diversify our investment portfolio?
We're a middle-aged couple with three children and a heavily US-focused investment portfolio. How can we better diversify our holdings to Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Insider
02-06-2025
- Business
- Business Insider
Southeast Asia's tech startups are chasing the American dream
Yoeven Khemlani knew he wanted to build a product for engineers like him. The Singaporean's friends told him they were spending tons of time maintaining code, web scraping, and translating their work for different markets. In July 2024, he launched JigsawStack, a company to create small models that could automate those tasks. One country — not his own — quickly became the source of his customers. "We saw a huge uptake of users and realized a lot of the early-stage customers that we got were from the US," Khemlani said. JigsawStack, which raised $1.5 million in pre-seed rounds from the venture capital firm Antler's Southeast Asia fund in October and February, is part of a growing group of Southeast Asian startups building products for US-based customers, rather than those in their backyard. For these software startups, the US's rising isolationism isn't threatening their customer base — yet. But sweeping tariffs on China may push up the cost of hardware they need to import into the US, such as servers. "Traditionally, Southeast Asian startups honed in on local or regional markets to solve unique, homegrown challenges," said Jussi Salovaara, a cofounder of Antler who leads investments in Asia. The ride-hailing apps Grab and GoJek — two of the region's best-known startups, now publicly listed — are examples of how founders in the early 2010s built for local needs. "However, as the ecosystem matures, founders are now setting their sights on the US, encouraged by a blend of opportunity and necessity," Salovaara said, adding that he'd seen more of these US-focused startups in the past three years in Southeast Asia. Southeast Asia is growing, but it doesn't have the US's firepower Southeast Asia, a group of 11 countries east of the Indian subcontinent and south of China, has seen skyrocketing economic growth over the past decade. Since 2015, the region's GDP has climbed more than 62% to $4.12 trillion, boosted by a growing middle and upper class. Between 2015 and 2021, the number of venture capital deals within the region more than tripled to 1,800, PitchBook data shows. Activity peaked in 2021 — a similar pattern to startup funding globally. Despite the region's growth, more Southeast Asia startups are choosing to focus on building products for the US, not for those around them. Founders and business experts note that the American market is more concentrated, more mature, and less price sensitive, all of which make it an attractive playing ground for new entrants. Plus, the US is leading in artificial intelligence, the major driver of today's global tech industry. "We're in an AI-first world where currently the US is at the epicenter of driving groundbreaking advancements," said Shailendra Singh, a managing director with Peak XV, the VC firm previously known as Sequoia Capital India & Southeast Asia. "This," he added, "is why we put in a lot of focus and effort on building global go-to-market operating teams in the US." And American businesses are happy to have them. "SEA startups are often positioned to offer high-quality, cost-competitive solutions that can undercut US-based alternatives, making them appealing to American businesses in need of cost-effective innovation," Antler's Salovaara said. To be sure, the model isn't unique to Southeast Asia. Nataliya Wright, an entrepreneurship professor at Columbia Business School, researched startups founded from 2000 to 2015 for a forthcoming paper on scaling. She found that software startups from small countries in Europe, for instance, typically focused on the US from the get-go. Southeast Asian countries such as Thailand and Vietnam, however, are considered midsize markets, with populations in the tens of millions. Startups from midsize markets tended to start with a local focus, assuming there would be enough customers. "A US orientation," Wright told Business Insider, "would suggest a departure from that model." 11 unique markets Working only within the region is tough. Southeast Asia is home to a huge diversity of languages, business practices, and household incomes. "You're spending five times more because you're entering five different markets," Khemlani, the JigsawStack founder, said about working in the region. The US and tech hubs like San Francisco allow startups to find an abundance of customers in one place, or at least in one country. "We don't have the resources to do two streams of marketing," Khemlani said. Having some American customers is good for fundraising, too, said Wright, the Columbia Business School professor. This is because of a bias called "foreign discounting" — VCs based in startup hubs such as Silicon Valley overlook or undervalue startups founded elsewhere, Wright said. When foreign startups show they have US customers, it helps cancel out that bias and could give them a leg up in future fundraising rounds. VCs say founders from the region have advantages. Singh, the Peak XV managing director, said Indian and Southeast Asian startups often have an underdog mindset. "They feel a startup in Silicon Valley is more polished and has better access to capital and talent, so they want to overcompensate by working harder, learning faster, and often they're understated and very hungry for success," he said. Hotbed for innovation Realfast is a Singaporean Peak XV-backed startup that builds AI agents for IT systems. Its cofounder, Sidu Ponnappa, has found that the US is the deepest market for its product. "Everything from deal velocity to deal size operates at a completely different level in the US," Ponnappa said. "Can you do the same thing for other markets? Yes, but it's always lower margin." Guan Dian, who heads the Asia Pacific operations of Patsnap, a software maker for research and development projects that's backed by Vertex Ventures, said the company's founders always thought the US would be a priority market. While the startup has customers in 50 countries, more than half of its 5,000 customers are in the US. She said the company refined its branding to emphasize AI-powered features for industries such as biotech and advanced manufacturing, which dominate US patent filings. Cost consciousness among Southeast Asian customers is another reason founders are reaching abroad. "Southeast Asia is a little bit more price sensitive, and we tend to get a bit more into negotiation," Khemlani said. Cheaper labor means local customers try low-tech solutions or building themselves first, but that's starting to change as AI models get more complex and expensive, Khemlani said. 'Should we move our headquarters to America?' Founders don't want to fully decamp to the US, though, thanks to the ease of doing business in places such as Singapore. For startups including Multiplier, an HR platform backed by Tiger Global and Peak XV, Singapore's strong geopolitical relations with virtually every country are a big advantage over the US. "We do business with China and Taiwan, we do business with India and Pakistan, we do business with America and China," said Sagar Khatri, Multiplier's CEO and cofounder. "We've evaluated time and time again: Should we move our headquarters to America? And the answer has always been no," Khatri said. The founders who spoke with BI also touted Singapore's tax policy — it doesn't tax capital gains — and government grants for tech companies. Some startups are splitting their people, moving one cofounder to the US while the other stays in Southeast Asia. For JigsawStack, being in the US is essential for networking. Khemlani, the founder, spent six months in the US last year and moved permanently this year to scale the startup. "You can't sell to the US when you're not there," he said. "Just going for an event or a hackathon in the US makes such a big difference in your sales."
Business Times
26-05-2025
- Business
- Business Times
After briefest of respites, global trade war fears return with a vengeance
THE trade war is far from over, and neither is the associated rout in the stock market. The broad S&P 500 had turned positive for the year to date, clawing back from bear-market territory on signs that US President Donald Trump had been bluffing with his 'Liberation Day' tariff assault on the rest of the world. On Friday (May 23), the index of multinational US companies fell back into the red after Trump returned with a fresh volley of trade threats. First, he vowed to impose 50 per cent tariffs on all European Union (EU) imports, starting on June 1. Two days later, he extended that deadline to July 9 to give both sides more time to iron out a trade deal. Stock futures rose after the unexpected reprieve, but there's no guarantee Trump will not shift the goal posts again. Over the weekend, he also lashed out at Apple, vowing to slap a 25 per cent duty on iPhones unless production is brought back to the US from China. The US-focused Russell 2000 has now given back roughly half the gains registered since May 12, when China and the US unveiled a short trade-war truce. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The truce had brought to an end a dizzying period for stock, bond and currency markets characterised by the Wall Street catchphrase 'Sell America'. In the feverish aftermath of Trump's Liberation Day on April 2, a tit-for-tat battle had driven duties up to roughly 145 per cent on Chinese imports. At those levels, all freight traffic between the world's two largest economies had slowed to a crawl. Effectively, it was an embargo that threatened to put countless small US businesses into bankruptcy and leave the shelves of retailers empty. Stock and bond markets initially surged in mid-May as the tariffs were reduced to roughly 30 per cent on both sides for 90 days, with a plan to continue negotiations during that period. Fallout from trade war Even the 30 per cent level of tariffs was unthinkable just a few months ago, before Trump began to bang the tariff drum. If the threat against EU tariffs is followed through, retailers will struggle to fill their shelves for the holiday season. Consumers may struggle to find new generation iPhones, Gucci bags and Star Wars figurines. Walmart, the empire built on price 'rollbacks', is now warning of tariff-related price increases, and its lead is bound to be followed by smaller rivals. Trump has pressured corporations to back his tariff plans by 'eating' the extra costs. Even those who have agreed to eat their tariff pie, such as Home Depot, will face repercussions and could start laying off workers. 'Tariffs force corporations to pass along higher costs, thus propelling inflation or eating costs and hurting profit margins, or some combination of the two. None of these are good outcomes,' said JD Joyce, the president of Texas-based financial advisory Joyce Wealth Management. The other casualty of even a relatively contained trade war will be monetary policy. The US Federal Reserve considers risks to the jobs market and inflation to be hanging in the balance at the moment. The tipping factor is likely to be the trade war. Fed officials say it's too early to tell if the new tariffs will be a major cause of inflation or job losses, or both. Fed chairman Jerome Powell has cited the need to wait for the final trade policy to become clear, and to observe its impact on the global economy as the main reason the Fed has suspended plans for further rate cuts. Some brokerages expect that wait to last through the end of this year. Three potential outcomes There's a distinct chance, with Trump at the helm, that things will once more spiral out of control. As the threats to EU reveal, Trump does not have the patience to negotiate myriad trade deals with every nation that imposes tariffs on US goods. The only official deal struck so far, that with the UK, still included substantial duties on imports from the UK. Two weeks after the US-China truce, the only smoke signals from the negotiators on both sides were assurances that they remained open to further talks. The buzzword on executive calls during the latest earnings season was 'uncertainty'. 'Increased economic uncertainty due to tariff variability seems to have brought further moderation into May,' warned analysts at Bank of America Global Research, in a note entitled 'Are May flowers wilting?' There are three potential outcomes, according to strategists at Morgan Stanley. One would be a de-escalation of trade tensions that would allow the US to avert a recession. A second would be a resumption of trade frictions through a return of reciprocal tariffs, which would result in a 'mild recession', they said. In the third and potentially worst-case scenario, the US could cut back significantly on fiscal spending, which, in combination with the trade war, would result in an 'adverse' recession. Should Trump carry on with his recent negotiating pattern of having all bark and little bite, the US markets could continue on an upward path. But any escalation in the trade war with China, the EU or other major economies will likely cause another painful rout in US stocks, Treasuries and the greenback.
