Bangladesh Angels Network Partners with UCB Asset Management to Invest in and Support Bangladeshi Startups


UCB Asset Management Limited (AML), part of United Commercial Bank Limited, one of the largest financial institutions in Bangladesh

[Dhaka, Bangladesh] — Bangladesh Angels Network (BAN), the pioneering angel investment network in the country, has announced today that it has joined forces with UCB Asset Management Limited (UCB AML), to work together to source and invest in technology-enabled startups in Bangladesh and to create an enabling environment for venture investing. UCB AML is part of United Commercial Bank Limited, one of the largest financial institutions in Bangladesh.

Together, the two organizations will jointly create a pipeline of investment opportunities in areas of mutual interest, including education, agriculture, healthcare and others. They will distribute such deals to their respective networks and client bases, and create a series of thought leadership pieces and knowledge products focused on introducing startup investing as an asset class. At the same time, the UCB AML team will mentor companies within BAN’s extended pipeline and portfolio, including the on-going Accelerate Bangladesh program for healthcare startups. In the future, the two sides will also explore ways to create a favorable policy environment for startup investment.

Shekh Mohammad Rashedul Hasan, CEO of UCB AML, explains: “Along with concentrating on public equities as other traditional asset managers operating in Bangladesh, we at UCB Asset Management are also interested in participating in private transactions. We want to be a part of the start-up ecosystem of Bangladesh and explore investment opportunities in early-stage companies. While our preferred macro themes for investing are centered around healthcare, education, agriculture, and frontier tech, we are open to investing with any solution that solves a pain point in a scalable fashion.

As we were working out our potential role in the start-up ecosystem in Bangladesh, members of BD Angels reached out to us, and they shared excellent feedback about this angel network. We are excited to be a member of BD Angels and hope our collaboration will be fruitful for the advancement of early-stage companies in Bangladesh.”

Nirjhor Rahman, CEO of Bangladesh Angels Network, adds that “For the startup ecosystem to continue to grow in Bangladesh, we need more strategic institutional investors such as UCB AML to connect with, invest in and become more integrated with the growing digital ecosystem and its community of entrepreneurs. Over the last few months, we’ve gotten to know the UCB AML team well, and are impressed with and excited about their willingness to engage with this new emerging field and to mobilize their incredible capabilities as part of one of the largest financial institutions in Bangladesh to develop the sector.”

The two partners are looking for early-stage companies with revenue traction, a product/service in the market, a full-time team and clear fundraising plans and goals. Interested companies can send their information and proposals to and for review. Additionally, the parties will be conducting public workshops in the near future regarding early-stage investment.


UCB Asset Management Limited, a fully-fledged subsidiary of United Commercial Bank Limited, received its Asset Management license from Bangladesh Securities & Exchange Commission (BSEC) in February 2020. Managed by a team of talented capital market veterans, the company aims to instill confidence in the industry through integrity and high caliber performance. Currently, the company is undergoing the process of obtaining the Alternative Investment Management (AIM) license from the BSEC, which will enable it to engage in venture capital financing, thereby fostering growth and sustainability of the early stage startups by meeting their capital needs.

About Bangladesh Angels Network

Launched in 2018 with support from local and international stakeholders, Bangladesh Angels Network is the nation’s first angel investment network created with a mission to nurture the innovation and entrepreneurship ecosystem in Bangladesh. We help startups and rising enterprises accelerate their growth through customized pre-investment support, connections to local and global investors as well as mentorship and market development. Investors get access to a highly curated deal-flow across sectors, invest alongside industry leaders and post-investment portfolio monitoring. Prospective angel investors and entrepreneurs can go online to sign up for the network or apply for funding via

This press release was jointly written by the BAN and UCB AML teams.



Nirjhor Rahman (Bangladesh Angels)

Bangladesh Angels Network (BAN) is the first platform to connect Bangladeshi start-ups with smart capital via individual and institutional investors.