IRVC Establishes the Venture Capital Firm Development Commission
On February 7, 2024 (18 Bahman 1402), the Iranian Venture Capital Association (IRVC) held the first gathering of venture capital firms to officially launch the Venture Capital Firm Development Commission. The session aimed to identify shared challenges and initiate a dedicated platform for industry collaboration.
The meeting began with opening remarks by Dr. Seyed Mohammad Hossein Sajadi Niri, Chairman of IRVC, followed by an introduction from Dr. Abbasali Karshenas, Secretary of the Association, who explained the new commission structure based on member categories.
Dr. Reza Bagheri, IRVC board member and newly appointed coordinator of the commission, outlined its core mission:
“To address regulatory and operational challenges, unlock government support mechanisms, and strengthen the capabilities of VC firms across the country.”
During the session, members discussed key industry issues, including:
Difficulty in raising and securing investment capital
Challenges in co-investment and divestment from existing ventures
Poor access to financial markets and lack of exit strategies
Weak international partnerships
Limited access to diverse financial instruments
Building on past collaborations with the Innovation and Prosperity Fund and the Vice Presidency for Science and Technology, members agreed to prioritize the following initiatives:
Developing a venture guarantee tool backed by the Innovation Fund
Promoting co-investment models between VC firms and the Innovation Fund
Establishing mega funds with VC firms acting as General Partners
Advocating for a third category of Research & Technology Fund, aimed at launching new funds and capturing innovation-related tax credits
Facilitating VC participation in the “NouAfarin” market, a new capital market for startups
Expanding access to Islamic financial instruments (Sukuk) in the range of IRR 20–50 billion, tailored to knowledge-based companies and startups
To operationalize these goals, eight IRVC members volunteered to serve on the central board of the commission:
Mehdi Hakimian – Roshdkhahan Javan
Mohammad Piri – Davin Investment
Mohsen Sadri – BarsamTech
Sina Jirfti – Hamrah Aval Ventures
Soheil Rashidi Aghdam – Energik VC
Ahmadreza Sadeghi – Nik Ventures
Erfan Azizpour – 100 Startups
Bagher Sayyadi – Sarmayeh Gostar Mahan Betis
The commission plans to meet bimonthly, focusing on member engagement, problem-solving, and strategic coordination.
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