Investor Profile: Sarmayacar — Thesis, Cheque Size & How to Apply

For founders building technology companies in Pakistan, Sarmayacar is often the first institutional name on the list. The Lahore-based firm began as an angel syndicate in 2016 and domiciled its first fund in 2018, after concluding that Pakistan lacked professionally managed venture capital.

Investment thesis

Sarmayacar backs technology-enabled businesses with a sufficiently large addressable market. Its practical pitch is that digitisation can reshape established industries in Pakistan, and it wants to fund the teams doing that reshaping. It looks for positive unit economics, capital efficiency and a model that can scale,

Sectors and stages

Sarmayacar is sector agnostic within technology, spanning hospitality, logistics, e-commerce, agritech, fintech, gaming and edtech. Its portfolio page also highlights fintech, mobility and entertainment. The firm says it has previously invested from pre-seed to Series A, making it most relevant to founders beyond the idea stage who can show early traction.

Fund size and cheque size

The firm's initial technology fund was USD 25 million, anchored by the International Finance Corporation (IFC). The firm has said that fund helped catalyse more than USD 800 million in venture investment into Pakistani startups, a figure describing ecosystem follow-on capital rather than money deployed by Sarmayacar alone. A current total fund size is not publicly disclosed in the sources read. Through its Operator Angel Program, typical cheques range from USD 25,000 to USD 100,000. Outside that programme, single cheques have reached up to USD 2 million, with at least a 5% equity share.

Notable portfolio

Sarmayacar's published portfolio includes Bykea, ABHI, Simpaisa, Procheck and Revolving Games, alongside Dawaai, Patari, Jugnu and OneLoad. Mobility, financial services, payments, gaming and health all appear, fitting a sector-agnostic thesis. The firm says it keeps reserves for follow-on rounds, doubles down on winners, and typically takes a board seat.

Partners

Sarmayacar was founded by Rabeel Warraich, who serves as chief executive, and its general partners include Dr Bernhard Klemen. The wider team is described as professionals with experience in banking, private equity and company building. The IFC anchor for the first fund gave the firm early institutional credibility.

Programs, credits and perks

The standout programme is the Operator Angel Program, launched in 2021, which pairs angel-sized cheques with input from successful venture-backed Pakistani founder-operators in the portfolio. No standalone cloud or software credits bundle is publicly disclosed, so founders should not assume one. The practical perks are operator mentorship, board involvement and follow-on reserves. Separately, the firm announced a Climaventures Fund in October 2024, with a USD 15 million anchor from the Green Climate Fund towards a USD 40 million target. In June 2025, however, the National Rural Support Programme was reported to have ended its partnership with Sarmayacar on that project, so its current status is not publicly confirmed in the sources read.

How to apply for funding

Sarmayacar does not publish an open application portal on its funding page. The real route is a direct approach: prepare a pitch deck covering vision, product proposition, market, founders' backgrounds and the investment required, then contact the firm at [email protected] or on +92 42 32171844. Lead with unit economics, capital efficiency and scalability.