Dr Cornelius Boersch confident in SL as a haven for Global Venture Capitalists
The event featured a session with Dr Boersch, led by Founder, Veracity AI – Jeevan Gnanam, and later joined by Co-Founder, Hatch Works – Nathan Sivagananathan and Managing GP, BOV Capital Ltd – Prajeeth Balasubramaniam.
Speaking at the event, Dr Boersch noted “There is no shortage of knowledge, talent or passion in Sri Lanka. The biggest challenge here is the conservative mindset. When I started the largest food delivery company in Europe, many said the same would not work in India and Saudi Arabia, but we see that the food delivery companies are the most successful businesses in today’s market. The world has become so similar that what works in London and Berlin can also work in Colombo. Sri Lanka has one great advantage, you are five  years behind. This means you don’t have to make the same mistakes that others have, you can instead replicate models that have been tried and tested and developed to be successful.”
After successfully deploying capital for the first round of funding, Lion Ventures is closing in on its second round of funding wherein 60% of its capital will go towards venture build up ideas and the remaining 40% towards promising local startups that are easily scalable and globally transportable.
General Partner, Lion Ventures – Love Yadav, the key personality behind the partnership with Dr Cornelius Boersch, noted “As early-stage investors, we look for new opportunities and it is apparent that Sri Lanka is ideal where the untapped potential is concerned. I would like to thank the BOI and its Chairman Mr Sanjaya Mohottala who has been integral in the success of this trip”.
Investment Director, Mountain Partners – Jorge Perez Garcia concluded: “Sri Lanka is at the inflexion point of digital disruption as the Sri Lankan Startup ecosystem is ready to bloom. During this short but insightful visit to Colombo, we have been inspired by the talent of founders and managers alike, as well as by the new measures that the government will put in place in the coming months to support entrepreneurship. We are clear this is a pivotal moment for the country. Together with Lion Ventures, we aim to capture opportunities in the digital space through our Company Builder and Early Stage Fund; nurturing and boosting the local talent, bringing successful disruptive business models to the country and back some of the most promising local teams. We want to invite every family office, investor, manager and entrepreneur to join us in this exciting journey that will boost the country’s long-term economic growth and open the door to a brighter future for new generations to come.”
Prajeeth Balasubramaniam, Love Yadav, Dr Cornelius Boersch, Jorge Perez, Founder, Jeevan Gnanam, and Nathan Sivagananathan.