BOV Capital achieves historic exits and listing in 2025/26, strengthening start-up ecosystem

Wednesday, 7 January 2026 06:39 - - {{hitsCtrl.values.hits}}

Fund 1 and Fund 2 (DADIF) exit IFINITY, Roar, Cultiv8 and lists Insureme.lk
Fund 3 launch awaits double taxation resolution

BOV Capital yesterday announced landmark exits this year from its Fund 1 and Fund 2’s Dialog Axiata Digital Innovation Fund (DADIF), including IFINITY (fintech and banking technology), Roar Global (digital marketing and advertising), Cultiv8 ( Agri-Tech), and the public listing of Insureme.lk ( insure-tech) on the Colombo Stock Exchange.

These milestones highlight the maturity of Sri Lanka’s venture capital landscape and growing investor confidence ahead of Fund 3.

This year’s exits along with the past exits in Linear Squared (AI/ML) and nCinga (IOT) showcase standout successes alongside ongoing portfolio investments in iConic Devices (Industrial Internet of Things), Scybers (cybersecurity), MyDoc (Digital Health), OMAK (retail POS), ZigZag (Online Fashion brand). They affirm Sri Lankan startups’ global scalability, strong returns, job creation, and economic diversification, positioning the nation as South Asia’s digital innovation hub.

Backed by Dialog Axiata and managed by BOV Capital, DADIF fuels scalable ventures in cybersecurity, digital health, and industrial IoT, sustaining ecosystem vitality and attracting capital/talent.

BOV Capital is finalising Fund 3 for a 2026 launch, with LP commitments secured. Deployment awaits Government of Sri Lanka resolution of the double taxation issue, expected early 2026, to target high-growth tech startups.

BOV Capital Managing Partner Prajeeth Balasubramaniam said: “Since 2009, we have built Sri Lanka’s start-up ecosystem, recognising innovation as key to sustainable development. These exits and Insureme.lk’s listing affirm that local ventures can compete globally, create jobs, and foster resilience. We remain committed to this vital foundation.”

Looking ahead, BOV Capital plans to launch Fund 3 in 2026, pending double taxation resolution, to fuel the next wave of legendary companies. “These milestones position Sri Lanka as Asia’s emerging digital powerhouse,” added Balasubramaniam.

Robust ecosystems foster innovation, high-value jobs, FDI, and resilience, key to Sri Lanka’s economic future.

BOV Capital, based in Colombo and Singapore since 2009, pioneered Sri Lanka’s angel network and startup ecosystem. Managing $ 15 million AUM, it invests approximately $ 500,000 tickets in high-potential tech startups, backed by partners across South Asia, SEA, and MENA. The firm drives growth through investments, mentorship, and exits including major 2025/26 successes from its first two funds.