The General Assembly of the National Association of Venture Capital Funds and Institutions of Iran was held on September 18, 2023, from 15:00 to 18:00, with the participation of official members, representatives of member companies and funds, and a number of executives active in the country’s innovation ecosystem. The meeting was convened to present the annual performance report and hold the election for the sixth term of the Board of Directors and auditors of the Association.
During the session, Mr. Younes Hamidi, the Association’s Secretary, was formally acknowledged and appreciated for his four years of continuous efforts in advancing the Association’s goals and supporting its members.
The Association’s role in institutionalizing communication between venture capital entities and government bodies was also highlighted. Achievements in this area included pursuing industry demands for regulatory transparency, amending procedures, and aligning policies with the innovation ecosystem’s needs. It was emphasized that the Association could act as a facilitator in negotiations between private-sector stakeholders and public institutions. Members also called for systematic advocacy efforts and the creation of active specialized committees involving key stakeholders.
Iran National Venture Capital Association currently has over 105 active members, including technology development funds, venture capital firms, angel investors, accelerators, and corporate venture entities. The Association was originally established in 2009 as a joint industry initiative and was officially registered in January 2013. Today, it serves as the primary industry body in this field by expanding its network and strengthening sectoral coordination.
The sixth-term Board of Directors election was conducted with the following priorities:
- Increasing participation of domestic venture capital firms
- Strengthening the Association’s links with other innovation ecosystem stakeholders
- Enhancing member collaboration and reinforcing the Association’s professional role
At the beginning of the session, the fifth-term Board presented a report on last year’s activities, highlighting efforts to boost the Association’s role, engage with policymakers, support members, and expand membership. In another part of the meeting, participants reviewed shared challenges in the VC sector and stressed the need for greater alignment among active institutions.
The voting process for the new Board of Directors and auditors followed, with strong engagement from member representatives. The elected members were announced as follows:
Main Board Members:
- Mohammad Hossein Sajadi Neiri (TechnoTejarat New Business Development Co.)
- Mehdi Sadat Rasoul (Sharif Export Development Technology Fund)
- Mohammad Mehdi Faridvand (University of Tehran Technology Fund)
- Abbasali Karshenas (Sustainable Economy Innovators Technology Fund – TAP)
- Siavash Samimi (Setaregan Entrepreneurship Technology Fund)
- Arash Faravashi (Lorestan Province Technology Fund)
- Reza Bagheri (SmartUp – Raymandan Roshd Afza Novin Co.)
Alternate Board Members:
- Mehdi Abbaskhani (Hamrah Aval Venture Studio)
- Farzin Fardis (Sarava Pars Innovation Group)
Main and Alternate Auditors:
- Main Auditor: Mehdi Farazmand (Finatech – Faraz Idea Novafarin Tak Investment Consulting Co.)
- Alternate Auditor: Gholamreza Shamsheri (Advanced Industrial Technologies Development Fund)
Following the election, it was decided that the newly elected Board would convene its first internal session to appoint the Chairperson, Vice Chairperson, Treasurer, and new Secretary of the Association. Planning for the development of a strategic roadmap to enhance the Association’s professional and advocacy roles was also placed on the agenda.
On the sidelines of the General Assembly, opportunities were provided for direct engagement among members to exchange views and present suggestions on the Association’s future priorities. These discussions led to the identification of key areas for the sixth term to pursue. Additionally, plans were set in motion for continuous engagement with decision-making institutions in the country’s innovation ecosystem.
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