BOV Capital to fund outward looking Sri Lanka tech startups

ECONOMYNEXT – BOV Capital, a venture capital fund based in Singapore and Sri Lanka is looking to fund technology startups that are expanding outwards from the island, officials said.

The firm said it has secured commitments of 600 million rupees from foreign investors for their Singapore based fund, that will invest in Sri Lanka.

It was looking at deal sizes between 100 to 200 million rupees.

Eric Wickramanayake, a partner said the first deal is likely to be finalized in the next eight weeks.

Prageeth Balasubramanium, a partner said in addition to the 600 million committed, the fund aims to raise and invest up to 2.0 billion rupees as deals flow in.

Rahab Anandan, an early stage investor in technology companies in the US and India is also partner.

The firm said it is backed by Ambit FinIvest of India. (Colombo/July12/2016)

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