IRVC Unveils Annual Report on Innovation Financing in Iran (2023–2024)
At a special ceremony held at the Isfahan International Exhibition Center, the Iranian Venture Capital Association (IRVC) officially launched its Annual Report on Innovation and Technology Financing in Iran. This comprehensive report aims to provide transparent insight into the status of innovation financing and includes in-depth statistics and analysis across four key areas: venture capital investments, loans, guarantees, and crowdfunding activities.
The event, attended by CEOs of member institutions and media representatives, included remarks by Abbasali Karshenas, Secretary of IRVC. He explained that this report has been published annually since 2012 to support entrepreneurs and business leaders with credible financing data. The 2023–2024 edition is based on self-reported data from IRVC members and structured into four key sections:
Profile of member institutions: diversity, size, and structure
Investment performance: direct VC, indirect VC, project-based VC, and other investments
Loan disbursement: including Qard-al-Hasan, Jaaleh, Ijara (leasing), and Istisna contracts, and their funding sources
Guarantee issuance: performance in work commitment, performance, prepayment, customs, and payment guarantees
Karshenas shared key figures from the report:
Registered capital of IRVC members exceeds IRR 90 trillion
Venture investments reached IRR 3.2 trillion in 2023–2024
Loans totaled IRR 2.15 trillion, indicating strong demand due to the flexibility of R&T Funds compared to traditional banks
Guarantees issued soared to IRR 20.29 trillion, a 162% increase over the previous year
He attributed this growth partly to regulatory reforms, including the revision of the Government Procurement Guarantee Bylaw and the approval of the Knowledge-Based Production Leap Law, particularly since 2020.
This year’s report includes new sections:
Case studies of VC exits
A dedicated annex on crowdfunding platforms, highlighting their increasing role in SME financing
A summary of the Innovation & Prosperity Fund’s activities, to enhance the report’s comprehensiveness
Dr. Seyed Mohammad Hossein Sajadi Niri, Chairman of IRVC, noted:
“This report helps us reflect on our strengths and weaknesses in a challenging year. It’s our responsibility to strengthen the Association’s role as a policy advisory body—and with collective effort, we hope to shape future success stories.”
He emphasized that IRVC’s greatest asset is its members and their collaboration. He described recent efforts to expand membership, particularly through engaging new players in the VC space, such as the formation of the Corporate Venture Capital (CVC) Commission following the legal recognition of CVCs.
Dr. Sajadi Niri outlined three top priorities for the Association:
Strengthening the commissions, to serve the specialized needs of members
Institutional impact, by building collaborative structures
Leveraging IRVC’s position in the National Knowledge-Based Council for strategic policy influence
He stressed that each commission must actively propose solutions and channel its issues through formal policy platforms.
Later in the session, Mehdi Khaleghi, Parliamentary Affairs Deputy of the Innovation and Prosperity Fund, presented an overview of the Fund’s achievements:
IRR 900 billion co-invested with 24 R&T Funds
Promotion of crowdfunding through initiatives like “Shokoofa”
Khaleghi emphasized the Fund’s evolution from a loan-focused institution in 2012 to now offering over 70 financial tools and services, and welcomed new ideas and partnerships to expand its offerings.
At the close of the session, Dr. Sajadi Niri (IRVC Chair), Abbasali Karshenas (IRVC Secretary), and Mehdi Khaleghi (IPF Deputy) officially unveiled the 2023–2024 Annual Report on Innovation and Technology Financing in Iran.
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