A Silicon Valley-based US venture capital firmFenox Venture Capital, Inc (Fenox) will invest Tk 200 million US dollar in a Bangladeshi company Priyo Limited popularly known for their internet portal Priyo.com.
This is the first ever investment in Information Technology sector in Bangladesh from the universal technology business according organizers announced Monday.
The Priyo.com organized a meeting to disclose the first ever Silicon Valley investment in Bangladesh at The Daily Star Centre located in Karwan Bazar in the city.
This new relationship between Fenox Venture Capital and Priyo Ltd will bring the new momentum in internet media in Bangladesh connecting millions of internet users globally, ZakariaSwapan, the founder & CEO of Priyo.com said while announcing the new partnership programme.
Prominent Academician Abdullah Abu Sayeed attended the function as chief guest while ICT State Mminister Zunaid Ahmed Palak was special guest.
"We hope Priyo will the pathway of new generation. They should keep look on developing Bangla Content on internet. Someone thinks digitalization makes distance among art and culture", Abdullah Abu Sayeed said.
The number of internet users will grow significantly over the next couple of years and people will be more aligned to consume more contents in their everyday life, he added.
"Internet usage cannot grow without enough local contents in local languages", Abu Sayeed said.
ICT State Mminister Zunaid Ahmed Palak expressed his optimism about the growth of internet penetration in the coming days through the partnership between Fenox and Priyo.com.
Fenox VC is a Silicon Valley-based global venture capital firm investing in Internet, mobile, social, cloud and emerging technologies. Fenox has been rapidly expanding its operations around the world.
Aside from investing into startups, Fenox has been providing large corporations with insights into the technological trends in Silicon Valley and abroad, so as to enter joint ventures with the hottest startups across the globe.