Name: Indus Valley Capital

Location: Karachi, Pakistan

Web site:

Size: $15 million fund

What it is: Founded in 2019 by LinkedIn’s former VP of growth, the firm is investing in startups in Pakistan. It’s betting on the coincidental explosion of the middle class and the population’s move online. Also, it says that the entrepreneurial ecosystem in the world’s fifth largest country has matured enough to support follow-on investments and exits. With a population of more than 200 million, Pakistan is more urban than India. For every retiring person he/she is being replaced by three people. “Imagine the productivity boost,” founder Aatif Awan said in a Disrupt 2019 presentation. Incidents of terrorism are on the decline, he said in the same presentation. (Fair to note here that many people in the international community see America’s mass shootings as equivalent to terrorism incidents in other countries).

Minimum investment: It’s a tiny fund, but still open for investment, according to Pitchbook. 

Leadership: Founded by LinkedIn’s former vice president of growth, Aatif Awan

Investment style/track record: Indus Valley is looking for deals in the Edtech, Healthtech, and B2B marketplaces, among others. It cites Egypt’s Swvl , Indonesia’s KinerjaPay, and India’s BlackBuck as examples of the kinds of companies it wants to find and back in Pakistan. On the web site, Awan offers his email and a promise of fast capital – days, not weeks.

Quote: “What an amazing incredible opportunity,” Awan says in his presentation.

YouTube video

This story and others on New Builders Dispatch are made possible by a sponsorship from the Ewing Marion Kauffman Foundation. The Ewing Marion Kauffman Foundation is a private, nonpartisan foundation that provides access to opportunities that help people achieve financial stability, upward mobility, and economic prosperity – regardless of race, gender, or geography. The Kansas City, Mo.-based foundation uses its grantmaking, research, programs, and initiatives to support the start and growth of new businesses, a more prepared workforce, and stronger communities. For more information, visit and connect with and

A business journalist for 20 years, am the founder of Times of Entrepreneurship and the co-author of The New Builders.