The Maslin VC Fund-1 sponsored by the venture capital firm Maslin Capital has been inaugurated.
The fund will open up new possibilities of venture capital investment in the country, said a press release.
Venture capital funds are investment funds that manage the money of investors who seek private equity stakes in startup and small- to medium-sized enterprises with strong growth potential.
On Friday, the Maslin Capital handed over sponsor's money to its trustee Union Capital at the inaugural ceremony at its headquarters.
The Maslin VC Fund-1 will help new entrepreneurs make equity investment.
Chief executive officers of both the Maslin Capital and the Union Capital, Wali-ul-Maroof Matin and Chowdhury Manzoor Liaquat, along with other officers from both the organisations, were present at the inaugural ceremony.