Pasargad Innovation CVC Fund
Pasargad Innovation Non-Governmental Research and Technology Corporate Venture Capital Fund is a private Tehran-based corporate venture capital fund within the Pasargad Financial Group ecosystem. Backed by Bank Pasargad, the Innovation and Prosperity Fund and Vastra Holding, it invests in Iranian healthcare, medical technology, food security, agriculture, agritech and biotechnology ventures, connecting strategic capital with priority innovation sectors.
Market position
Established under Article 18 of Iran’s Knowledge-Based Production Jump Law as the first corporate venture capital fund directly established by a commercial bank.
Operations & footprint
Products and services
Pasargad Innovation CVC Fund invests in innovative and scalable companies in healthcare, food security, agriculture, biotechnology, medical and health-related technology, and businesses aligned with the broader Pasargad financial and innovation ecosystem. Its investment process includes opportunity identification, market and technology monitoring, technical, commercial and financial due diligence, management-team assessment, equity investment, strategic and managerial guidance, access to specialist networks, continuous portfolio monitoring, performance optimization, and preparation for exits through mergers and acquisitions, secondary share transfers, or public offerings.
Operations and assets
The fund was launched with initial registered capital of IRR 5,000 billion. It deploys corporate venture capital in healthcare and medical technology, food security, agriculture, agritech and biotechnology.
Geographic footprint
Tehran-based with an investment focus on Iranian innovation-led businesses.
Ownership & group structure
Ownership
Shareholders include Bank Pasargad, the Innovation and Prosperity Fund, and Pasargad Smart Health Industries Technology Company (Vastra Holding).
Parent company
Pasargad Financial Group / Bank Pasargad.
Commercial and investment relevance
The fund is relevant for investors assessing institutionally backed venture investment in Iran's healthcare, pharmaceutical, agricultural, food-security, biotechnology, and medical-technology markets. Its links to Pasargad-affiliated financial, academic, health-technology, and innovation institutions may support sourcing, governance, strategic advice, financing, and exit preparation. Due diligence should verify its exact shareholder structure, registered and paid-in capital, portfolio holdings, relationship with Bank Pasargad, Shenasa, Vestra and affiliated health-technology companies, investment-stage and ticket-size policies, valuation methodology, follow-on capacity, regulatory and clinical exposure, intellectual-property rights, import dependence, portfolio-company commercialization status, related-party transactions, international-market plans, exit record, and whether public portfolio references represent direct fund investments or broader Pasargad group exposure. For venture-backed companies in its focus sectors, the fund combines equity financing with access to a shareholder network spanning commercial banking, innovation finance and health-technology operations. It is a relevant potential co-investor and strategic capital provider for domestic technology ventures.
Constraints, risk & compliance
Key risks and constraints
The fund began operations in January 2025, leaving a limited operating and exit history. Investment performance is tied to early-stage businesses in regulated healthcare, medical technology, biotechnology and agriculture-related markets.
Sanctions and compliance considerations
Bank Pasargad is a shareholder and parent-group affiliate. Transactions involving the fund or its portfolio require sanctions screening, including assessment of exposure to Bank Pasargad, which is listed by the U.S. Office of Foreign Assets Control.
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Frequently asked questions
Direct answers to the questions most likely to arise when reviewing this profile.
What does Pasargad Innovation CVC Fund invest in?
The fund focuses on healthcare, medical technology, food security, agriculture, agritech and biotechnology ventures.
Who backs Pasargad Innovation CVC Fund?
Its shareholders include Bank Pasargad, the Innovation and Prosperity Fund, and Pasargad Smart Health Industries Technology Company, also known as Vastra Holding.
When did Pasargad Innovation CVC Fund begin operations?
The fund was registered on 12 November 2024 and received its operating licence on 22 January 2025.
Where is Pasargad Innovation CVC Fund based?
The fund is based in Tehran, Iran.