Finance and Planning Minister Amir Khosru Mahmud Chowdhury on Tuesday said Bangladesh’s first institutionally governed venture capital platform would help strengthen investor confidence and support the country’s transition toward an innovation-driven economy.

Speaking at the inauguration of Bangladesh Startup Investment Company PLC (BSIC) in Dhaka, Amir Khosru described the initiative as a “major undertaking” for the country’s evolving economy.

“Bangladesh is entering a new phase of economic transformation, where future growth must increasingly come from productivity, technology, entrepreneurship, and private sector innovation,” he said.

The platform, backed by 39 commercial banks with an initial fund of around Tk425 crore, will invest in seed, late-seed, and Series-A startups.

The finance minister said the initiative would support the government’s broader “Creative Economy” agenda and create new opportunities for entrepreneurs.

“We have a program called the Creative Economy. I hope many activities under the creative economy can be implemented through this initiative,” he said.

Assuring investors and entrepreneurs, Amir Khosru pledged that the investment process would remain free from political influence.

“There will be no political interference in this investment process-I give you my word,” he said, adding that the platform reflects the government’s effort to restore transparency and accountability in the financial sector.

The minister also acknowledged the challenges facing Bangladesh’s banking and financial sectors, describing the current investment environment as “painful.”

“People know what has happened in the banking sector and stock market over the years. We are working to overcome those problems,” he said.

He added that the government is working with JPMorgan Chase, World Bank, and International Finance Corporation to address structural weaknesses in the banking sector and broader economy.