BSIC appoints Waiz Rahim as new MD and CEO

Waiz Rahim has been appointed as the new managing director and chief executive officer of Bangladesh Startup Investment Company PLC (BSIC), a venture capital firm backed by commercial banks. Rahim's appointment fills a role that had been temporarily held since the company's launch in May.

BSIC began operations on May 12, 2026, with a committed capital of Tk 425 crore, funded by 39 Bangladeshi commercial banks. Nazeem A Choudhury, additional managing director of Prime Bank, had been serving as interim chief executive during the search for a permanent leader with international venture capital experience.

Rahim brings a wealth of experience in venture investment and entrepreneurship. He previously worked as a venture partner at Sturgeon Capital, concentrating on investments within Bangladesh. He also founded and led Deligram, an omni-channel e-commerce platform. Earlier in his career, Rahim served as a technology consultant at Rahimafrooz and as a founding partner at Y Athletics. He holds a degree in industrial and systems engineering from the University of Southern California.

BSIC aims to complete its first three investments before the end of 2026. The company plans to appoint a managing director and chief investment officer in the third quarter and establish a full investment committee. The fund is mandated to invest in seed, late-seed, and Series A-stage companies, with a target of eight to twelve portfolio companies by 2028. Exits are planned from 2029 onwards through listings on the Dhaka Stock Exchange or direct stake sales.

The company's structure ensures a recurring replenishment mechanism, as 39 commercial banks contribute up to 1% of their annual net profits to the fund, rather than relying on a one-time corpus.