Venture capital firm Gobi Partners has partnered with Fatima Ventures, the investment arm of Pakistan-based Fatima Group, to launch a US$20 million fund to back early stage tech companies in Pakistan.
Fatima Ventures will co-manage the fund, which will focus on seed and series A investments in travel, logistics, fintech, healthcare, education, ecommerce, consumer tech, and industrial internet.
Gobi and Fatima said that the fund aims to help digitalize traditional industries and include underserved communities. It will also help build up Taqwatech, an investment vertical that focuses on startups serving Muslim consumers and businesses.
The partnership was announced during the Pakistan-Malaysia Business and Investment Roundtable held in Islamabad.