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 their 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 150K.

 

Early Stage

On average, USD 500K 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 $300K-$700K 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

Founding Partner & Country Director

Member Prime Minister's Task Force for Technology Driven Knowledge Economy. Founding Executive Director, LUMS Center for Entrepreneurship. Director, Karandaaz Pakistan, DFID and Gates Foundation funded SME Financing SPV. Member Investment Committee, Insitor Impact Asia Fund. Member Management Committee and Investment Committee, $500 Million Punjab Pension Fund. Member Steering Committee, PKR 29 Billion, HEC Technology Development Fund. Director, Mobilink Microfinance Bank. 22+ years of startup, technical leadership, strategic business consulting and investment advisory experience for Fortune 500 and VCs in Silicon Valley, US, Europe, India, including 12+ 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.

 

Saleem Ahmad

Saleem Ahmad

Founding Partner

25+ year hedge fund, private equity, special situations, restructuring and banking career in New York, London and Hong Kong. Investment experience across capital structure, liquidity spectrum, industries and geographies. Advisor to Fortune 500 CEOs, government officials and entrepreneurs in growth and developed markets. Former employers include Morgan Stanley, Credit Suisse and Citigroup. MBA (Finance & Entrepreneurial Management) from Wharton, UPENN and MSc (Accounting & Finance) from the London School of Economics.

 

Affan Butt

Affan Butt

Founding Partner

Previously co-head of Technology and Business Services across EMEA for UBS. 22+ years of experience in Technology investment banking including Credit Suisse First Boston and H&Q (JP Morgan). Previous transactions include King (sale to Activiision), Talabat (sale to Rocket Internet), TeliaSonera (investment in Spotify), Supercell (strategic investment by Softbank), Shutl (sale to eBay), among others. Worked on several IPOs including Rightmove, SeLoger, Moneysupermarket, Ocado, Perform and MicroFocus. B.S. in Mathematics and Computers Science from Haverford College

 

Leena Mahadoo

Leena Mahadoo

Director

Leena holds a BA (Hons) Law and Management and has also completed the ICSA professional qualification. She reckons 8 years of experience in the offshore sector and has previously worked at International Financial Services Limited. She has exposure on funds, global business companies and trusts.

 

Thaman Soodhoo

Director

Prior to joining 47 Ventures as a Director, Thaman had been with International Financial Services Limited for almost eight years, a regulated Mauritian administrator. He has eight years of experience in the Global Business sector with considerable experience on the structuring, administration and accounting for different types of investment vehicles, including private equity funds and collective investment schemes. He is currently completing his ACCA to become a fellow member. Thaman holds a BSc (Hons) in Finance with Law from the University of Mauritius.

 

Ali Irfan Najam

Ali Irfan Najam

Senior Associate

Ali is a LUMS grad with BSc (Hons) in Accounting and Finance and is awaiting his CFA charter now. He has experience in sourcing, evaluating, structuring and executing corporate finance, private equity and investment banking deals with exposure to multiple sectors. Before joining 47 Ventures, Ali worked in an Investment Company jointly owned by Ministry of Finance, Pakistan and China Development Bank.

 

Salman Gaba

Senior Associate

Salman is a Senior Associate at 47 Ventures. He is responsible for evaluating and executing transactions with high-growth entrepreneurial businesses, and supporting the origination of investment opportunities. He has over three years of experience in Principal Investments. Prior to joining 47 Ventures, he was a Senior Analyst at Bank Alfalah working in Private Equity and Structured Credit. He holds a BSc in Accounting & Finance from Lahore University of Management Sciences, has cleared CFA Level III, is an Associate Chartered Banker, UK. He is passionate to combine analytical rigor and entrepreneurial dynamism at 47 Ventures.

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 startup valuations, and some interns also!