UCB Investment Limited, Bangladesh Angels Network partner to strengthen startup ecosystem

UCB Investment Limited (UCBIL), Bangladesh’s leading investment bank, and Bangladesh Angels Network (BAN), the country's largest platform of angel investors, signed a Memorandum of Understanding (MoU) at the United Commercial Bank Head Office.

The event was graced by Mr. Sharif Zahir, Chairman of United Commercial Bank PLC; Mr. Mohammad Mamdudur Rashid, Managing Director & CEO of United Commercial Bank PLC; Mr. Nabil Mustafizur Rahman, Chairman, UCB Investment Ltd; Mr. Tanzim Alamgir, Founding Managing Director and CEO of UCB Investment Ltd.; Ms. Ivy Huq Russell, CEO of Bangladesh Angels Network Ltd.; Mr. Shekh Mohammad Rashedul Hasan, Managing Director & CEO of UCB Asset Management Ltd.; Ms. Farzana Kashfi, Founding Board Member of BWIN; Ms. Tina Jabeen, Board Member of BAN & BWIN; Ms. Sharawwat Islam, Managing Director of Truvalu Bangladesh and Board Member of BWIN; and Mr. Samad Miraly, Founding Board Member of BAN; along with senior executives from both organizations, according to a media release. 

This strategic partnership aims to support startups through joint training programs, advisory services, and future investment initiatives. UCBIL and BAN will focus on enhancing startup readiness for fundraising, governance, and strategic growth.

Mr. Tanzim Alamgir commented, "We are excited to work together to build stronger pathways for Bangladesh’s entrepreneurs. This partnership reflects our dedication to fostering a stronger, more resilient entrepreneurial ecosystem in Bangladesh. UCB Investment Ltd. is proud to support initiatives that enable startups to grow, innovate, and lead the future economy."

Ms. Ivy Huq Russell added, “I would like to emphasize and break it down that our partnership with UCB Investments Limited (UCBIL), the leading investment bank in the country, marks a significant advancement for our startups. It would mean that BAN’s startups will have UCBIL acting as a premier advisory partner, offering a comprehensive suite of Investment Banking services that include meticulous preparation, strategic structuring, and investing and fundraising for startups at every stage of their development, from Seed to Scale to IPO - a truly investment banking model. This collaboration is unprecedented in the history of Bangladesh, as it paves the first instance where an investment banking arm of a major bank entering into a long-term strategic partnership. We encourage both investors and founders to remain attentive to this space, as we are designing numerous initiatives that will have a substantial impact on the entrepreneurial landscape.