Silicon Valley based Dot Edu Ventures formally launch Dot Edu Ventures (DEV) Global in Pakistan. The fund has already seeded 5 IT startups in Pakistan with a plan to expand their investment portfolio in the coming months. DEV Global has already invested in a number of startups in India and Kenya.
As one of the key emerging economies in Asia, powered by a predominantly young demographic: Pakistan’s startup ecosystem is evolving every day. The advent of a number of incubators, accelerators and university research & innovation units have contributed significantly to the quality of business support services available to startups. DEV is excited at the prospect of contributing to the Pakistani startup scene.
DEV was started by the late Professor Rajeev Motwani (founding architect of Google) and his wife Asha Jadeja to create and fund seed stage startups led by students and faculty at Stanford. Over the life of Fund I, DEV has invested in about 25 startups, most of which grew out of US academia. Between Dot Edu and personal angel investments Rajeev and Asha acquired a stake in Google, Pinterest, Uber, StumbleUpon, Twitter, Gwynee Bee, Teapot, Aardvark, Mimosa and over a 100 hundred other tech companies.
DEV Global aims to maintain a similar interest in seed funding startups that have significant affiliation to local academic institutions and are working on building disruptive technology, and connect them to the global startup ecosystem.