Investment Focus

We have a fairly narrow investment focus, so obviously a lot of entrepreneurs ask us if their startups qualify for our investment. Here is how you can decide that for yourself. You need to pass all the primary and 2 out of 3 secondary tests in order to qualify for investment consideration by 47 Ventures.

Primary Tests
  • The business is high growth potential targeting a large addressable market exceeding US$100M
  • The business leverages technology for rapid scale and efficient growth
  • Majority of the shares are controlled by the founders/entrepreneurs responsible for execution
Secondary Tests
  • The business has a legal, registered business entity in Pakistan.
  • Majority founders are Pakistani AND Pakistan is the primary destination of job creation for the business
  • The business has, and intends to serve, a large market in Pakistan through its products/services
We fully expect our investments to eventually scale and become global enterprises but we have this strict qualification filter that's applied AT THE TIME when 47 Venture is investing. Once a deal qualifies for our investment consideration, our analysts and partners further evaluate it against our internal investment criteria.

Investment Stages

Seed Stage

These are investments in strong teams and business models to take minimum viable products to test markets. We primarily work with partner incubators and accelerators for sourcing deals but will consider investments otherwise also. Solid referrals from trusted ecosystem players, strength of the team with founders bringing varying strengths to the table and a large market primarily drive our interest for these investments. Our average investment ticket size at this stage is USD 50K.

 

Early Stage

Up to USD 300K investments in validated products and services with proof of traction in early test markets. We typically look for revenue, number of users, customer testimonials, and other unit economic indicators to determine viability for investments. We expect the product risk to have been minimized significantly. If USD 300K is not enough for a 14-18 month runway, we happily co-invest with other credible investors.

Growth Stage

We invest early growth capital up to USD 2M independently or as part of a larger round in companies with significant traction, very strong management teams, a predictable revenue model and potential for rapid growth in a large local or international market. We prefer to have worked with the company for at least a year before investing at this stage, but strong referrals and proof of traction and growth can trump that.

Our Team

Khurram Zafar

Khurram Zafar

Country Director

Founding Executive Director, LUMS Center for Entrepreneurship. Director, Karandaaz Pakistan, DFID and Gates Foundation funded SME Financing SPV. Member IC, Insitor Impact Asia Fund. Director, Punjab Pension Fund. Member Steering Committee, HEC Technology Development Fund. Director, Infrastructure Development Authority of Punjab. Member Punjab Agriculture Commission. Director, Mobilink Microfinance Bank. 20+ years of startup, strategic business consulting and investment advisory experience for Fortune 500 and VCs in Silicon Valley, US, Europe, India, including 10+ in Pakistan. Best Private Sector CIO of Pakistan in 2012. 2 Services and 2 Product Startups in Silicon Valley. Prentice Hall published author. B.Eng. Computer Engineering, McGill University.

We are building our Team!

If you'd like to work for us, send us your CV. We are looking for financial analysts who understand venture capital and valuations, and some interns also!