{"id":14367,"date":"2026-05-23T09:49:57","date_gmt":"2026-05-23T06:19:57","guid":{"rendered":"https:\/\/irvc.ir\/?p=14367"},"modified":"2026-05-23T09:50:15","modified_gmt":"2026-05-23T06:20:15","slug":"warning-status-for-irans-vc-ecosystem-analysis-of-the-2025-2026-challenges","status":"publish","type":"post","link":"https:\/\/irvc.ir\/en\/warning-status-for-irans-vc-ecosystem-analysis-of-the-2025-2026-challenges\/","title":{"rendered":"Warning Status for Iran\u2019s VC Ecosystem: Analysis of the 2025\u20132026 Challenges"},"content":{"rendered":"

The recurring crises over the past two years have pushed Iran\u2019s Venture Capital (VC) ecosystem into a state of \u201calert.\u201d To provide a precise assessment of the situation, the Iran Venture Capital Association (IVCA) has summarized the expert insights of key industry players, originally featured in an exclusive interview with Zoomit<\/strong>.<\/a> This report highlights the perspectives of Sajjad Zavvar<\/strong> (Secretary of the IVCA), Hassan Zali<\/strong> (CEO of Soroush Sepehr Investment Company), and Mahdi Sadat Hayat-Shahi<\/strong> (CEO of the Creative Industries Research and Technology Fund).<\/p>

The Chain of Failure: From 2024 Growth to 2025\u20132026 Stagnation<\/h3>

Following a record-breaking year in 2024, which saw over 16 trillion Tomans invested across 220 deals, the ecosystem is now facing severe structural headwinds in 2025 and 2026. Sajjad Zavvar, Secretary of the Iran Venture Capital Association<\/strong>, warns: \u201cExperiences such as internet disruptions and critical macroeconomic events have demonstrated how directly these factors impact the cash flow and survival of innovative businesses.\u201d<\/p>

Expert Analysis of the Crisis<\/h3>

1. The Internet: A Critical Infrastructure Under Pressure<\/h4>

Hassan Zali, CEO of Soroush Sepehr Investment<\/strong>, describes the internet shutdown as more than a technical issue: \u201cIt means a complete halt to operations.\u201d Zali notes that the lack of data access has disrupted the due diligence and decision-making processes for investors. He emphasizes: \u201cThe government must treat the internet as the lifeblood of the economy. Instead of restrictions, policymakers should design modern solutions to ensure stable and secure access.\u201d<\/p>

Mahdi Sadat Hayat-Shahi, CEO of the Creative Industries Research and Technology Fund<\/strong>, echoes this concern, noting that the core operations of research funds\u2014including project monitoring and financial transactions\u2014are virtually paralyzed without online connectivity.<\/p>

2. Risk Aversion: The Freeze on Capital<\/h4>

According to Hassan Zali<\/strong>, a volatile economic climate has transformed the inherent \u201crisk-taking\u201d nature of the VC ecosystem into \u201cenforced risk aversion.\u201d This shift has significantly delayed the lengthy negotiation and deal-structuring cycles, threatening the survival of startups that rely on timely capital injections to stay afloat.<\/p>

3. Startups: Survival Over Growth<\/h4>

Mahdi Hayat-Shahi<\/strong> provides a stark outlook on the current state of portfolio companies: \u201cMost of these firms are now in \u2018survival mode,\u2019 not growth mode. The combination of rising costs, energy shortages, and the brain drain of specialized talent has led to an increase in defaults and a total lockdown of the financing pipeline.\u201d<\/p>

Critical Review of Government Support Packages<\/h3>

Representing the industry\u2019s stance, the IVCA and its members have raised concerns regarding the recent support package from the Innovation and Prosperity Fund:<\/p>