Pick your raise path
Pre-seed / grant (BDT 5M–30M)
iDEA pre-seed grant (non-dilutive, government), BAN syndicates, and BD-local angels. Best for first cheque before product-market fit.
Seed ($300K–$1.5M)
Startup Bangladesh Limited, Anchorless Bangladesh, Cocoon Capital (regional). At this stage, expect investors to ask whether you'll incorporate or flip.
Series A and beyond ($2M+)
Cross-border. Sturgeon Capital, IFC, Openspace, Peak XV, Valar (for the largest rounds). Almost always requires a Singapore or Delaware HoldCo — see decision tree below.
BD entity vs Singapore HoldCo — decision tree
- Stay BD-incorporated if: all investors are local, no near-term plan to raise from foreign funds, no foreign acquirer in your TAM.
- Flip to Singapore HoldCo if: you want to raise from any tier-1 regional or global fund, plan eventual M&A by a non-BD strategic, or want exit-currency optionality.
- Hybrid (BD opco + offshore HoldCo) is now the dominant pattern for BD startups raising $2M+. The BB 2025 directives formalised the previously grey cross-border share-swap mechanic.
What BD VCs actually want in a deck
See the full breakdown: Pitch-deck data points that move BD VCs. Short version: unit economics (not vanity GMV), regulatory posture (especially fintech), and a credible path to USD revenue if you're raising in dollars.
Top 6 active investors
- Startup Bangladesh Limited — Pre-seed to Series A · BDT 10M – 500M
- Bangladesh Angels Network (BAN) — Pre-seed / Seed · USD 25k – 500k
- iDEA Pre-Seed Startup Grant — Pre-seed · Up to BDT 10M
- BIRDI Innovation Grant — Industrial R&D · Large-scale (program-defined)
- Bangladesh Bank Startup Directives (2025) — All stages · n/a
- BSEC Alternative Investment Rules, 2015 — All stages · n/a