Nurul Hai: The Vision Behind Bangladesh’s Investment Future

The Investment Strategist Building a Stronger Future for Bangladesh’s Startup Economy

With over 16 years of experience in venture capital, investment management, and international finance, Nurul Hai is helping build a stronger, more sustainable startup ecosystem in Bangladesh.

Bangladesh’s startup economy is entering a new phase, driven by ambitious entrepreneurs and expanding opportunities in technology, healthcare, agriculture, and financial services. However, access to capital, investor confidence, and corporate governance remain significant challenges.
At the center of efforts to address these barriers stands Nurul Hai, Managing Director and Chief Executive Officer of Startup Bangladesh Limited, the government-owned venture capital company under the ICT Division. With extensive experience across domestic and international investment markets, Hai brings a vision that extends beyond funding startups. His mission is to strengthen the investment infrastructure that enables businesses to grow, attract global capital, and contribute to Bangladesh’s economic development.

From Financial Expertise to Investment Leadership

Hai began his academic journey at the University of Dhaka, earning a Bachelor of Business Administration in Finance, followed by an Executive MBA in Finance from the Institute of Business Administration (IBA). He developed his career through Asian Tiger Capital Partners, BRAC Bank, IL Capital, BD Capital, and LankaBangla Asset Management Company, gaining expertise in investment research, asset management, and corporate advisory.

At LankaBangla Asset Management, he helped establish research and alternative asset management teams. His advisory experience included transactions worth approximately US$2 million to US$40 million across multiple industries. These experiences shaped his approach to investment, emphasizing financial discipline, strong governance, and sustainable business growth.

Expanding His Vision Through Global Investment

In 2018, Hai joined the Washington, D.C.-based Small Enterprise Assistance Fund (SEAF) as Vice President of SEAF Bangladesh Ventures. He led investment activities and portfolio strategies for the Bangladesh Ventures Fund, gaining experience in international impact investing, portfolio management, and successful investment exits.

His professional exposure across South Asia, East Africa, and the Caribbean strengthened his understanding of emerging markets and the importance of connecting local businesses with international capital. His work also incorporated environmental, social, and governance principles, gender-focused investments, and climate-related considerations.

Leading Startup Bangladesh Into a New Era

On September 1, 2025, Hai assumed leadership of Startup Bangladesh Limited, bringing his private-sector investment experience into the government’s flagship venture capital institution. His leadership focuses on transparent governance, disciplined investment decisions, international partnerships, and long-term business sustainability. Rather than simply providing financial support, he aims to create an environment where entrepreneurs receive strategic guidance, investors gain confidence, and public capital encourages private investment.
The Bangladesh Fund of Funds: A Major Investment Milestone

One of the most significant initiatives under Hai’s leadership is the Bangladesh Fund of Funds, launched operationally in August 2026 with an initial allocation of BDT 400 crore. The initiative allows government-backed capital to support professionally managed investment funds, which subsequently invest in promising startups.

According to Startup Bangladesh, the country’s startups attracted approximately US$1.2 billion over the preceding decade, while domestic investors contributed only around 7 percent. The Fund of Funds aims to strengthen local investment capacity, attract international investors, and develop professional venture capital management. For Hai, this initiative represents a structural shift toward building a sustainable investment ecosystem rather than relying solely on direct government funding.

A Historic First Exit for Startup Bangladesh

In August 2026, Startup Bangladesh announced its first successful portfolio exit through Pulse Tech Limited, describing it as Bangladesh’s first successful exit by a sovereign venture capital fund. The healthcare technology company, backed by Startup Bangladesh in 2024, combines pharmaceutical distribution, embedded financing, software solutions, and pharmacy franchise operations.

According to Startup Bangladesh, Pulse Tech grew its annualized revenue from approximately US$2 million to more than US$150 million while remaining profitable and serving over 14,000 pharmacies. Although the investment amount and exit value were not disclosed, the achievement demonstrated the importance of building profitable businesses and creating opportunities for investors to realize returns.

Mentorship, Governance, and Responsible Investment

Beyond his executive responsibilities, Hai serves as a pitch judge at Unicorn Battles, an Asia-Pacific mentor and strategic adviser to 2X Ignite, part of 2X Global, and a board member of the Global Centre for Risk and Innovation. Through these engagements, he supports entrepreneurs in improving investment readiness, corporate governance, and long-term business strategies.

His experience in portfolio management, IPOs, trade sales, and responsible investment helps founders strengthen financial discipline and prepare for international growth.

Connecting Bangladesh With Global Capital

Throughout his career, Hai has developed relationships with international venture capital firms, private equity investors, financial institutions, and development finance organizations. These connections support his broader ambition to position Bangladesh as an attractive destination for long-term investment.

Under his leadership, Startup Bangladesh aims to expand private-sector participation, strengthen domestic fund management, and create opportunities for Bangladeshi entrepreneurs to compete globally.

Building a Legacy Beyond Investment

Nurul Hai’s journey reflects Bangladesh’s transition from traditional investment management toward a more structured, innovation-driven venture capital ecosystem. His experience at SEAF, leadership across financial institutions, and role at Startup Bangladesh have positioned him to contribute to the country’s entrepreneurial future.

The Bangladesh Fund of Funds and Startup Bangladesh’s first successful portfolio exit mark important milestones, but their lasting impact will depend on stronger businesses, increased investor participation, and sustainable growth.