Bangladesh Start-up Investment Company (BSIC) PLC, a startup investment firm backed by 39 domestic banks, has appointed Wise Rahim as its first Managing Director and Chief Executive Officer.

The appointment marks a significant milestone in BSIC’s initiative to establish itself as the premier venture capital platform in Bangladesh.

Formed recently under the guidance of Bangladesh Bank, BSIC aims to pool domestic institutional capital for high-growth startups while strengthening the country's venture capital and innovation ecosystem.

The company has already launched its inaugural fund, 'Ankur', with an initial size of US $35 million. The fund will co-invest alongside local and foreign investors into Bangladeshi startups. Over the next five years, the fund size is expected to surpass Tk 1,000 crore, as operating banks in Bangladesh are mandated by central bank directives to invest 1.0 percent of their annual profits into startup equity funds.

Before joining BSIC, Wise Rahim served as Venture Partner for Bangladesh at Sturgeon Capital, a London-based venture capital and private equity firm managing nearly $300 million in assets across Central Asia, Pakistan, and Bangladesh. At Sturgeon Capital, he led deal sourcing, due diligence, and portfolio development.

In 2017, Rahim founded Deligram, an omnichannel e-commerce platform that integrated local neighborhood retail stores into an e-commerce fulfillment network. He raised over $2.5 million from institutional investors in Singapore and New York. Rahim holds a degree in Industrial and Systems Engineering from the University of Southern California.

Commenting on the appointment, Masrur Arefin, Chairman of BSIC and Chairman of the Association of Bankers, Bangladesh (ABB), said, "The appointment of our first Chief Executive Officer is an important milestone for the company. Wise Rahim brings a rare combination of venture investment experience, entrepreneurial mindset, and institution-building capability."