A new Sri Lanka-focused fund was launched last month with a focus on homegrown tech startups which have the potential for regional and global growth. Blue Ocean Venture (BOV) Capital, a Sri Lanka and Singapore based VC firm announced that it plans to invest a total of US$14.89 million in Sri Lanka-based startups. BOV Capital is run by Google Southeast Asia and India VP Rajan Anandan, Lanka Angel Network (LAN) founder Prajeeth Balasubramaniam, and former LAN Chairman Eric Wikramanayake.
The money will be allocated across seven to ten companies, with an investment range of US$750,000 to US$1.5 million, across various sectors with consideration given to startups which demonstrate strong teams, product-market fit, and scalable ideas, which can extend beyond Sri Lanka. Learn more here.