Dhaka, Aug. 20 -- 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 f...