nVentures emerges as Sri Lanka’s first MAS-licenced foreign VC

Friday, 1 August 2025 00:02 - - {{hitsCtrl.values.hits}}

Invests over $ 1.5 m in Sri Lankan startups

In a major milestone for Sri Lanka’s startup ecosystem, nVentures has emerged as the country’s first foreign venture capital firm to be licenced by Singapore’s Monetary Authority (MAS) and actively invests in local startups.

In just three years, the firm has backed six Sri Lankan ventures, delivered a portfolio exit, and, together with its regional investor community, channelled over $ 1.5 million into Sri Lankan startups through capital and commercial partnerships. This includes investments in MintPay, Nanosoft, SimpleBooks, Shopbook, Dossiers, Kaiju Labs, and WealthOS, a UK fintech with its entire engineering team based in Sri Lanka.

nVentures Managing Partner Chalinda Abeykoon said: “There’s no shortage of events, demo days and pitch competitions, but founders need more than applause because they need belief backed by capital and real support they can count on. That’s what we focus on, writing early cheques, helping teams land commercial deals and bringing in follow-on investors. Kaiju Labs wasn’t an exception as it was the outcome of founder-mode at work, and we’re here to keep doing that with international capital and a long-term view on Sri Lanka’s potential.”

MintPay, SimpleBooks and Nanosoft have all reached breakeven, doubling their year-over-year revenue and demonstrating the scalability of Sri Lankan-built B2B tech ventures. Beyond funding, the firm has played an active role in opening commercial doors and supporting product validation through meaningful partnerships. Among the highlights, Dossiers has engaged in proof-of-concept trials with major financial institutions, Nanosoft has secured a co-branded card with HNB along with CEFT integration with Seylan Bank, and MintPay has partnered with DFCC Bank for debt financing.

nVentures also marked a rare early-stage exit with Kaiju Labs, which was acquired by Singapore’s KAST Finance, delivering a 2x return and a 48% IRR. Since the acquisition, KAST has expanded its operations in Sri Lanka, hiring over 30 local professionals, further underlining the long-term value created by foreign capital. The firm’s capital is sourced entirely from overseas investors, including senior leaders from prominent companies such as Apple, AWS, Nokia, Klarna, Tech Mahindra, IFC, BCG, NUS, SVCA, and e27.

nVentures is currently raising capital for its second fund and welcomes conversations with strategic co-investors, family offices, and LPs who share this mission.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.