Tehran – 18th of Esfand 1395 (March 2017) – 1395 has been an incredibly successful year for the entrepreneurial ecosystem and Novin Andishan Sarava Pars Co. (Sarava), in attracting investment and formation of the VC funds.
Sarava’s most important objective is to help Iranian entrepreneurs realize their dream and create success stories, aiming to strengthen the country’s economy. These values, alongside other goals such as transfer of world-class know-how, job creation, instilling hope in the younger generation, and reducing brain drain, are amongst Sarava’s mission.
In line with these objectives, in 1395 (2016-2017) Sarava raised 200 million USD from foreign investors, with the commitment of transferring world class know-how to Iranian Startups. In accordance with Sarava’s policy in supporting local entrepreneurs, the funds derived from these investments will be used in companies active in the technology sector. However, shares of companies invested in by Sarava have not been transferred to any foreign company or entity.
With this agreement, Sarava’s foreign investors own 45% collectively and no shareholder has control of more than 20% of company shares, thus ensuring that the governance and control of Sarava remains in with the Iranian shareholders. It is noteworthy that the foreign investors are committed to transfer world-class know-how and experience to Iranian entrepreneurs in order to create success stories.
In 1395, Sarava also succeeded to obtain a venture capital license for its VC Fund, with a capital of 50 Billion Tomans (approximately 15m USD). With the creation of this fund, which is overseen by Iran’s Securities and Exchange Organization, there will be far more opportunity to support knowledge-based companies and talented teams in the early growth stage. Sarava has provided this fund with 20% of the initial capital, allowing small and large local investors the opportunities to participate in this investment opportunity.
Attracting foreign investment, together with the formation of VC funds in Iran, will lead to growth in value and job creation by Iranian entrepreneurs, thus empowering them to compete with multinational companies regionally and worldwide.
Sarava Public Relations