• The IFC has invested $3 million in i2i Ventures, Pakistan’s first women-led VC fund, through its Startup Catalyst Program, with support from We-Fi.
• i2i Ventures, founded by Kalsoom Lakhani and Misbah Naqvi, supports early-stage startups in Pakistan through funding and mentorship.
• IFC emphasizes the need to support Pakistani entrepreneurs, particularly women, in overcoming resource barriers and boosting innovation.

The International Finance Corporation (IFC) has announced a $3 million investment in Pakistan’s pioneering women-led venture capital fund, i2i Ventures, as part of its Startup Catalyst Program to nurture innovative early-stage startups. According to a recent statement from the global development institution, this initiative focuses on supporting founders by funding pre-seed and seed-stage startups.

The IFC, a member of the World Bank Group, is dedicated to advancing economic development in developing countries by strengthening the private sector, creating jobs, and enhancing people’s lives, as noted on its website. This investment aligns with the IFC’s mission by backing entrepreneurs in Pakistan, particularly those in the early stages of their business journey.

i2i Ventures, co-founded by Kalsoom Lakhani and Misbah Naqvi in 2019, is a startup accelerator and venture capital firm based in Pakistan. It is committed to empowering early-stage startups and entrepreneurs in the region through financial investment and hands-on support.

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The IFC’s Startup Catalyst Program is designed to invest in incubators and accelerators that cater to startups in underserved markets. i2i Ventures has been recognized for providing substantial support to early-stage companies in Pakistan, a crucial factor in the IFC’s decision to invest.

The funding comprises up to $2 million directly from IFC’s resources and an additional $1 million from the Women Entrepreneurs Finance Initiative (We-Fi). We-Fi specifically targets women-owned and led businesses, enhancing their capacity to operate and grow high-potential enterprises.

Naqvi explained the motivation behind founding i2i Ventures: “We witnessed firsthand the challenges of building businesses in Pakistan and the resilience of Pakistani founders as a result. i2i Ventures emerged from the recognition of the market’s potential and the necessity for investor support that understands the local business landscape and growth challenges faced by entrepreneurs at the early stages.”

Zeeshan Sheikh, IFC’s country manager for Pakistan and Afghanistan, emphasized the importance of providing startups with essential funding and support. “Pakistan holds significant potential for startups to innovate and scale up technologies and tech-enabled business models that address critical issues like climate change and improve access to education, healthcare, and financial services,” he noted. “However, early-stage entrepreneurs, especially women, face substantial barriers in accessing the resources required to launch and expand their businesses. Overcoming these challenges is crucial for fostering ecosystems that encourage innovation and entrepreneurship.”

Since its launch in 2016, IFC’s Startup Catalyst Program has supported 22 accelerators and seed funds, investing in over 1,180 startups across 24 emerging markets.

In related news, earlier this month, DealCart, a Pakistani e-commerce startup aiming to revolutionize consumer access to essential goods, successfully secured $3 million in a funding round led by Shorooq Partners, a prominent investment fund in the Middle East.

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