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3 March, 2017 00:00 00 AM
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US co plans to invest $200m in Bangladesh

SHAHED SIDDIQUE, From Barcelona
US co plans to invest $200m in Bangladesh

A California based venture capital company FENOX VC is interested to invest $200 million in Bangladesh’s IT sector in the next few years, in a bid to create a billion dollar company like Amazon and Alibaba. “We have already invested 50 crore taka in some IT venture like Shohoz.com, ajkerdeal.com, priyo.com, handymama.com and some other companies,” said Abul Nuruzzaman, a partner of FENOX VC, who is also a California based IT expert,
Nuruzzaman is visiting World Mobile Congress (WMC) 2017 in Barcelona to get a glimpse of the latest in the telco and ICT sectors. He is also one of the directors of US based software company XPERI that is listed on the Nasdaq.  Talking to The Independent, Nuruzzaman said, “As a Bangladeshi, I feel that Bangladesh is growing in the right direction, where the whole world is going. So, we see a huge potential, especially in local content, digitalizing and the service sector.”
“As per our company’s decision, we support local innovative companies in terms of money and other facilities,” he added.  “We invest across the world and our policy is to have some share against the investment. But we don’t take any profit every year. What we do is, we support the new venture and once it clicks in the international market, then we try to merge or sell it to a global player,” he explained. FENOX has invested in 90 companies across the world and it maintains 6 offices across the world. “Bangladesh has over 160 million people, which is huge in terms of consumers. If any service based IT company with an innovation can click in the market, you will see phenomenal growth taking place. And the company would be valued at more than billion dollars. That is also our goal -- to make a billion dollar Bangladeshi company in the international market,” the FENOX VC partner said.

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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