{"id":7680,"date":"2022-12-06T14:15:09","date_gmt":"2022-12-06T10:45:09","guid":{"rendered":"https:\/\/irvc.ir\/about-us\/"},"modified":"2025-05-16T21:52:29","modified_gmt":"2025-05-16T17:22:29","slug":"about-us","status":"publish","type":"page","link":"https:\/\/irvc.ir\/en\/about-us\/","title":{"rendered":"About Us"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

The Iranian Venture Capital Association currently comprises over 150 active members, including research and technology funds, venture capital firms, VC funds, accelerators, and angel investors.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t

\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\r\n\t\t
\r\n\r\n\t\t\t
\r\n\t\t\t\t60<\/span>+<\/i><\/span>Research & Technology Funds<\/span>\t\t\t<\/div>\r\n\r\n\t\t<\/div>\r\n\r\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\r\n\t\t
\r\n\r\n\t\t\t
\r\n\t\t\t\t22<\/span>+<\/i><\/span>Corporate Venture Capital \u2013 R&T Funds<\/span>\t\t\t<\/div>\r\n\r\n\t\t<\/div>\r\n\r\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\r\n\t\t
\r\n\r\n\t\t\t
\r\n\t\t\t\t6<\/span>+<\/i><\/span>Exchange-Traded Venture Capital Funds<\/span>\t\t\t<\/div>\r\n\r\n\t\t<\/div>\r\n\r\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\r\n\t\t
\r\n\r\n\t\t\t
\r\n\t\t\t\t48<\/span>+<\/i><\/span>Venture Capital Firms<\/span>\t\t\t<\/div>\r\n\r\n\t\t<\/div>\r\n\r\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\r\n\t\t
\r\n\r\n\t\t\t
\r\n\t\t\t\t21<\/span>+<\/i><\/span>Financing Companies<\/span>\t\t\t<\/div>\r\n\r\n\t\t<\/div>\r\n\r\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\r\n\t\t
\r\n\r\n\t\t\t
\r\n\t\t\t\t10<\/span>+<\/i><\/span>Credit Enhancers<\/span>\t\t\t<\/div>\r\n\r\n\t\t<\/div>\r\n\r\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\r\n\t\t
\r\n\r\n\t\t\t
\r\n\t\t\t\t27<\/span>+<\/i><\/span>Innovation Facilitation and Acceleration Companies<\/span>\t\t\t<\/div>\r\n\r\n\t\t<\/div>\r\n\r\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t
\n\t\t\t\t<\/i>\t\t\t<\/div>\n\t\t\t
\n\t\t\t\t<\/i>\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t\t
<\/div>\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n
\n\n \n
\n
\n \n \n Financing Facilities<\/span>\n\n \n
\n
\n \n\t\t\t\t\t\t\t\t\t\t<\/i> <\/div>\n\n
\n \n\t\t\t\t\t\t\t\t\t\t<\/i> <\/div>\n <\/div>\n\n \n <\/a>\n <\/div>\n\n
\n\n
\n

Providing the necessary financial resources for economic activities through non-equity mechanisms is generally achieved using Islamic contractual structures. These include various Sharia-compliant financing instruments such as Jua\u2019la (service contracts), Mudaraba (profit-sharing), installment sales, leasing, Ijara wa Iqtina (lease-to-own), guaranteed purchase agreements, and more.<\/p>

The terms and conditions of the facilities provided by the Association\u2019s member institutions are typically determined in close coordination with the needs of knowledge-based companies to ensure an optimal match between financing and operational requirements.<\/p>

In many cases, the funds offering these facilities act as agents for external financial sources. As such, the capital they lend is not directly sourced from their own reserves, which enables them to offer preferential interest rates and more flexible collateral requirements compared to traditional banking institutions.<\/p>

Moreover, these funds often have strong local knowledge of their respective regions and client bases, allowing for more accurate due diligence and better assessment of borrowers' creditworthiness.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

\n
\n \n \n Venture Capital<\/span>\n\n \n
\n
\n \n\t\t\t\t\t\t\t\t\t\t<\/i> <\/div>\n\n
\n \n\t\t\t\t\t\t\t\t\t\t<\/i> <\/div>\n <\/div>\n\n \n <\/a>\n <\/div>\n\n
\n\n
\n

Venture Capital (VC) refers to capital invested\u2014alongside strategic and managerial support\u2014into early-stage, high-potential, and fast-growing companies with strong economic prospects.
Venture capitalists typically:<\/p>

Finance startups and emerging businesses<\/p>

Acquire equity stakes (equity-based financing)<\/p>

Assist in developing new products and services<\/p>

Create value through active involvement<\/p>

Accept higher risks in pursuit of greater returns<\/p>

Invest with a long-term outlook<\/p>

VC funds serve as financial intermediaries between institutional investors (such as pension funds, banks, insurance companies, etc.) and high-growth, innovation-driven companies. Typically, institutional investors act as Limited Partners (LPs), while the VC fund serves as the General Partner (GP), responsible for managing the capital and operations on behalf of the LPs.<\/p>

Why Venture Capital Is Critical for Startups
Small and medium-sized enterprises (SMEs) have structural advantages over larger corporations in terms of flexibility, responsiveness to external changes, and internal communication efficiency. However, they often face challenges related to managerial expertise, technical capabilities, and, most critically, access to financial resources.<\/p>

These companies frequently struggle to secure bank loans or other conventional forms of financing, primarily because traditional lenders evaluate opportunities based on business size and collateral. Banks prefer larger, established businesses due to their lower perceived risk and higher cost-efficiency in processing large loans versus small ones. For smaller or newer ventures, lack of a proven track record and market position makes them less attractive to banks, which must also bear the costs of credit assessment and monitoring.<\/p>

VC as Strategic Investment Partner
Venture capitalists are experienced risk managers who invest in some of the most innovative and promising companies\u2014often those whose ideas cannot be financed through traditional banking channels. Their support is both financial and operational, typically spanning a 5- to 8-year investment horizon. During this period, the VC becomes a partial owner of the startup, though the investment remains illiquid until the company either reaches maturity, is acquired, or goes public (IPO).<\/p>

High-tech startups often require multiple funding rounds (typically every 1\u20132 years) based on updated valuations. Yet, until an exit occurs, assigning an exact value to the company remains challenging.<\/p>

Beyond Capital: Strategic Support
VC funds support companies across the full innovation lifecycle\u2014from initial business idea to mature, independent enterprise. Their value goes beyond capital infusion.
Most venture capitalists actively participate in company operations and usually secure a seat on the board of directors. In early-stage companies, daily meetings with management are common. As a result, VCs typically limit the number of investments they manage to ensure active and effective engagement.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

\n
\n \n \n Non-Governmental Research and Technology Funds (R&T Funds)<\/span>\n\n \n
\n
\n \n\t\t\t\t\t\t\t\t\t\t<\/i> <\/div>\n\n
\n \n\t\t\t\t\t\t\t\t\t\t<\/i> <\/div>\n <\/div>\n\n \n <\/a>\n <\/div>\n\n
\n\n
\n

Based on the Executive By-law of Article 100 of Iran\u2019s Third Development Plan, the Ministry of Science, Research and Technology was mandated to support the establishment of Research and Technology Funds (R&T Funds) to promote investment in innovation-oriented and knowledge-based companies.
Further emphasis on the creation and development of these funds was made in the Executive By-law of Article 44 of the \u201cLaw on Removing Barriers to Competitive Production and Improving the Financial System of the Country.\u201d<\/p>

According to Article 5 of the approved charter based on this regulation, the scope of activities of these funds includes:<\/p>

Providing financial services and facilities to individuals and legal entities in the form of grants, short- and long-term loans, interest and penalty subsidies, and guarantees for research, technology, innovation, and commercialization projects<\/p>

Attracting and channeling financial resources from the government, banks, authorized financial institutions, and other funds to fulfill the fund\u2019s mission<\/p>

Making venture capital (VC) investments in research and technology projects<\/p>

Participating and investing in the creation, development, management, and capacity building of R&T and knowledge-based companies<\/p>

Guaranteeing payments and installment obligations related to research and technology contracts to accelerate project implementation; collateralizing assets to prevent execution delays<\/p>

Collaborating with domestic and international organizations, and joining relevant specialized associations in line with the fund\u2019s objectives<\/p>

Acting as a financial agent or intermediary for public and private entities in the field of research and technology<\/p>

Providing feasibility and business plan evaluation services, project valuation, and monitoring services<\/p>

Contributing to the development of national policies, priorities, and regulations aligned with the goals of the funds, and promoting synergy among existing support mechanisms in the country<\/p>

The mission of these funds largely aligns with that of venture capital firms, particularly in their support for early-stage innovation and high-risk R&D initiatives.
To regulate the licensing, guidance, and oversight of these funds, a dedicated working group has been formed\u2014with the Chairman of the Board of the Iranian Venture Capital Association serving as an official member.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

\n
\n \n \n Issuance of Guarantees<\/span>\n\n \n
\n
\n \n\t\t\t\t\t\t\t\t\t\t<\/i> <\/div>\n\n
\n \n\t\t\t\t\t\t\t\t\t\t<\/i> <\/div>\n <\/div>\n\n \n <\/a>\n <\/div>\n\n
\n\n
\n

Under <\/span>the <\/span>Executive <\/span>Bylaw <\/span>of <\/span>Article <\/span>100 <\/span>of <\/span>the <\/span>Third <\/span>National <\/span>Development <\/span>Plan, <\/span>the <\/span>Ministry <\/span>of <\/span>Science, <\/span>Research <\/span>and <\/span>Technology <\/span>was <\/span>tasked <\/span>with <\/span>supporting <\/span>the <\/span>establishment <\/span>of <\/span>Research <\/span>and <\/span>Technology <\/span>Funds. <\/span>These <\/span>funds <\/span>were <\/span>created <\/span>to <\/span>invest <\/span>in <\/span>projects <\/span>and <\/span>knowledge-<\/span>based <\/span>companies. <\/span>Likewise, <\/span>the <\/span>Executive <\/span>Bylaw <\/span>of <\/span>Article <\/span>44 <\/span>of <\/span>the \u201c<\/span>Law <\/span>on <\/span>Removal <\/span>of <\/span>Barriers <\/span>to <\/span>Competitive <\/span>Production <\/span>and <\/span>Promotion <\/span>of <\/span>the <\/span>National <\/span>Financial <\/span>System\u201d <\/span>also <\/span>emphasizes <\/span>the <\/span>establishment <\/span>and <\/span>development <\/span>of <\/span>Research <\/span>and <\/span>Technology <\/span>Funds. <\/span>Pursuant <\/span>to <\/span>Article <\/span>5 <\/span>of <\/span>the <\/span>Statute <\/span>adopted <\/span>under <\/span>that <\/span>bylaw, <\/span>the <\/span>Funds\u2019 <\/span>fields <\/span>of <\/span>activity <\/span>are:<\/span><\/p>