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Bangladesh Startup Investment Company (BSIC) has established a dedicated investment firm to support emerging technology-driven startups in the country. Formed as a joint venture by 39 local banks, the company has an initial capital base of BDT 6 billion. Its board comprises the managing directors (MDs) of the country’s five leading banks, while research and consulting firm LightCastle Partners has been appointed as its strategic advisor. According to sources, the firm will initially focus on providing early-stage funding to promising homegrown startups led by young entrepreneurs, helping turn innovative ideas into successful ventures. It will also facilitate the entry of foreign venture capital into Bangladesh through co-investment models, enabling joint investments between domestic and international partners. BSIC is set to officially begin operations on April 30 and aims to fund several new ventures by June.