Underwriting of the fifth VC fund on IFB Third Market

Iranian Vice-President for Science and Technology at University of Tehran VC fund underwriting ceremony which is the fifth VC fund to be traded on Iran Fara Bourse stated that new financing models like VC funding and Crowdfunding are required, especially for knowledge-based firms and startups as borrowing from banks and traditional financing proved to be detrimental to startups’ financial health.

According to Sorena Sattari, Iran Fara Bourse pioneering activities like establishing IP Market and SME Market which help the development of knowledge-based economy are beyond expectations.

The University of Tehran aka Tehran University or UT is the icon of higher education in Iran and also Iran’s oldest modern university. It is one of the most prestigious universities in the Middle East. University of Tehran offers 976 programs at 39 faculties and 120 departments at its campuses located in Tehran, Qom, Karaj, Kish and Jolfa with over 2000 tenured faculty members

This Venture Capital fund is the first Academic VC in the country and the fifth one to be traded on IFB’s third market. The very venture capital fund raised 150 Billion rials from its founders, who are Tehran University, Tehran University Research and Technology Fund and Tehran University Investment Development firm.

The VC fund of Tehran University will be nurturing ICT projects and its underwriting was finished today.