UCB Investment Limited (UCBIL), one of Bangladesh’s foremost investment banks and Bangladesh Angels Network (BAN), the country’s largest platform of angel investors, have entered into a landmark strategic partnership to accelerate the growth of Bangladesh’s startup ecosystem.
The two organisations signed a Memorandum of Understanding (MoU) at the United Commercial Bank PLC Head Office in Dhaka, marking a pivotal moment in the nation’s entrepreneurial landscape.
The signing ceremony brought together prominent leaders from the financial and startup communities, including Sharif Zahir, chairman of United Commercial Bank PLC, Mohammad Mamdudur Rashid, managing director and CEO of United Commercial Bank PLC, Nabil Mustafizur Rahman, chairman of UCB Investment Ltd, Tanzim Alamgir, founding managing director and CEO of UCB Investment Ltd, Ivy Huq Russell, CEO of Bangladesh Angels Network Ltd, Shekh Mohammad Rashedul Hasan, managing director and CEO of UCB Asset Management Ltd, Farzana Kashfi, founding board Member of Bwin, Tina Jabeen, former CEO of Startup Bangladesh and board member of BAN and Bwin, Ms Sharawwat Islam, managing director of Truvalu Bangladesh and board member of BWIN and Samad Miraly, executive director of Olympic Industries, partner at IDLC Venture Capital Fund I and founding board member of BAN.
This groundbreaking collaboration—the first of its kind between a major investment banking arm and a startup investment network in Bangladesh—aims to provide startups with a comprehensive suite of support, including joint training programmes, strategic advisory services and tailored fundraising initiatives.
The goal is to prepare high-potential startups for sustainable growth across every stage of their journey, from seed rounds to scaling to IPO readiness.
“We are excited to work together to build stronger pathways for Bangladesh’s entrepreneurs,” said Tanzim Alamgir, CEO of UCBIL.
He added: “This partnership reflects our dedication to fostering a more resilient and innovative startup ecosystem. UCB Investment is proud to champion initiatives that empower startups to grow, scale, and lead Bangladesh’s future economy.”
Highlighting the broader impact of the initiative, Ivy Huq Russell, CEO of BAN, said: “Our partnership with UCBIL marks a significant shift in how startups in Bangladesh will access financial and strategic support. For the first time, BAN startups will have a premier investment bank acting as their long-term advisory partner—offering meticulous preparation, structured fundraising support and end-to-end investment banking services from Seed to Scale to IPO. This collaboration is not only unprecedented, it’s transformative.”
Board members of BAN also welcomed the partnership as a timely and necessary evolution for the ecosystem.
“It is time for high street banks in Bangladesh to actively engage with the startup ecosystem to build an economy led by innovation and entrepreneurship,” said Sajid Rahman, member of BAN’s Governing Board.
“This partnership between UCB Investment and BAN is an excellent first step in that direction.”
Mr Sanchayan Chakroborty, partner at Aavishkaar and founding member of BAN’s Governing Board, added:
“BAN has always been committed to catalysing the growth of Bangladesh’s startup ecosystem through investments, networks and capacity building. Our collaboration with UCBIL significantly expands the spectrum of services available to entrepreneurs, supporting them in building the corporate leaders of tomorrow.”
Together, BAN and UCBIL will co-create initiatives designed to strengthen the investment readiness of startups, improve governance standards and foster a more integrated entrepreneurial infrastructure across the country.
This partnership signals a new era of collaboration between institutional finance and early-stage innovation—one where investors, founders, and advisors work hand-in-hand to shape the future of Bangladesh’s economy.
