Sri Lanka haven for venture capitalists and angel investors
View(s):
From left (during a meeting with the BOI): Head of Ecosystem Management, BOI Sri Lanka - Darshan Maralanda; Investment Director, Mountain Partners - Jorge Perez Garcia; Lion Ventures, General Partner – Love Yadav; Chairman, BOI Sri Lanka – Sanjaya Mohottala and Super Angel Investor – Dr. Cornelius Boersch.
Dr. Cornelius Boersch – European Business Angel of the Year (2009) and a Certified Super Angel by the European Investment Fund (EIF), recently visited Sri Lanka to look at investment opportunities.
During the visit he took part in an event at Hatch Works in Colombo which was broadcasted via Facebook Live for local and global audiences, Lion Ventures, the Sri Lankan partner who facilitated Dr. Conny’s visit, said in a media release.
Conducted in partnership with Hatch Works, Lion Ventures, and The Council for Start-ups, the event featured a conversation-style knowledge sharing session with Dr. Boersch (Founder of Mountain Partners), led by Founder, Veracity AI – Jeevan Gnanam, and was later joined by Co-Founder, Hatch Works – Nathan Sivagananathan and Managing GP, BOV Capital Ltd – Prajeeth Balasubramaniam.
Speaking at the event, Dr. Boersch noted: “There is no shortage of knowledge, talent or passion in Sri Lanka. However, the biggest challenge I see here is the conservative mindset and the belief that the Sri Lankan market works differently compared to the rest of the world. When I started the largest food delivery company in Europe many people said that this model could not be applied to countries such as India and even Saudi Arabia, but we see that the food delivery companies are the most successful businesses in today’s market. The world has become so similar that ideas that work in London and Berlin can also work in Colombo. Sri Lanka has one great advantage (although you may see this as negative), you are five years behind. This means you don’t have to make the same mistakes that others have, you can instead replicate models that have been tried and tested and developed to be successful. There are business models that can be applied to any market, and entrepreneurship doesn’t mean you have to create something new. I see the potential in Sri Lanka.”
General Partner, Lion Ventures – Love Yadav, the key personality behind the partnership with Dr. Cornelius Boersch, noted “As early stage investors we look for new opportunities and it is apparent that Sri Lanka is ideal where untapped potential is concerned. After successfully deploying capital for the first round of funding, Lion Ventures is closing in on its second round of funding wherein 60 percent of its capital will go towards venture build up ideas and the remaining 40 percent towards promising local start-ups that are easily scalable and globally transportable.”
Dr. Boersch said he aims to fast-track his strategic goal of further developing Sri Lanka’s local market and its entrepreneurial prowess.