Bangladesh Startup Investment Company PLC, the bank-backed venture capital firm known as BSIC, has appointed Waiz Rahim as its managing director and chief executive officer, filling a position that has been held on an interim basis since the company launched in May.

BSIC launched on 12 May 2026 with committed capital of Tk 425 crore, backed by 39 Bangladeshi commercial banks. Nazeem A Choudhury, additional managing director of Prime Bank, has been serving as interim chief executive while BSIC searched for a permanent leader with multinational venture capital experience.

Rahim brings a background spanning venture investment and entrepreneurship. He most recently served as a venture partner at Sturgeon Capital, focusing on investments in Bangladesh, and was previously the founder and chief executive of Deligram, an omni-channel e-commerce platform. Earlier in his career he worked as a technology consultant at Rahimafrooz and as a founding partner at Y Athletics. He holds a degree in industrial and systems engineering from the University of Southern California.

BSIC has said its first three investments will be completed before the end of 2026, following the appointment of a managing director and chief investment officer in the third quarter and the constitution of the full investment committee. The fund is mandated to invest in seed, late-seed, and Series A-stage companies, with eight to twelve portfolio companies targeted by 2028 and exits planned from 2029 onward through Dhaka Stock Exchange listings or direct stake sales.

BSIC is structured so that 39 commercial banks contribute up to 1% of their annual net profits into the vehicle, giving it a recurring replenishment mechanism rather than a one-time corpus.