In the latest episode of LightCastle Live, Bijon Islam, CEO and Co-founder of LightCastle Partners, sits down with Mr. Waiz Rahim, Venture Partner at Sturgeon Capital and Board Advisor at Rahimafrooz (Bangladesh) Ltd., to explore strategies for building a resilient and competitive business landscape in Bangladesh. Drawing from his multifaceted experience as an entrepreneur and investor, Mr. Rahim shares his perspectives on the evolution of Bangladesh’s startup ecosystem, the role of patient capital, and the need for locally grounded business strategies.
An Entrepreneurial Journey Rooted in Experimentation and Learning
Mr. Rahim’s entry into entrepreneurship began with experimentation. After completing his undergraduate studies in the United States, he returned to Bangladesh, convinced that the country was entering a defining phase of digital and economic transformation. His ventures reflect both ambition and adaptability, from launching a silver-infused athletic wear brand to exploring opportunities in e-commerce and eventually founding Rahimoto, an automotive platform aiming to reshape mobility solutions in Bangladesh.
Reflecting on this journey, Mr. Rahim noted, “I realized early on that capital is not the biggest challenge in Bangladesh. It is the execution gap, the ability to tell a story, attract talent, and build systems that scale sustainably.” His early ventures provided valuable lessons about consumer behavior, product-market fit, and operational resilience, insights that continue to inform his approach to both entrepreneurship and investment.
Rethinking Venture Capital for Bangladesh
A central theme of the discussion was the relevance of the traditional venture capital model in Bangladesh’s context. According to Mr. Rahim, “The expectation of billion-dollar exits doesn’t align with our market size or maturity. But exits in the 50 to 100 million dollar range can still create enormous value for founders, investors, and the broader ecosystem.”
He emphasized the need for locally tailored investment structures that appreciate Bangladesh’s growth trajectory and sectoral nuances. Encouraging patient capital, he argued, can yield more sustainable outcomes and prevent premature scaling or overvaluation, challenges that have hindered some local startups in the past.
Digital Transformation and Shifting Consumer Behavior
Bangladesh’s digital infrastructure has advanced considerably over the past decade, transforming how consumers engage with products and services. The widespread adoption of mobile wallets, improving internet accessibility, and the normalization of digital payments have created fertile ground for innovation.
Comparing today’s ecosystem to the early e-commerce days, Mr. Rahim observed, “Back then, we were building on potential. Now, we are building on infrastructure. The fundamentals, such as payments, logistics, and digital reach, are finally catching up.” This shift, he believes, will enable more entrepreneurs to thrive and create scalable business models grounded in operational efficiency rather than hype.
Resilience, Patience, and the Road Ahead
The conversation also touched on Bangladesh’s macroeconomic resilience. Despite global disruptions and local challenges, the country’s private sector continues to demonstrate adaptability and endurance. Mr. Rahim emphasized the importance of a long-term view, stating, “If you zoom out and look at Bangladesh over the next decade, the opportunities are undeniable. We are still early in our growth story.”
Looking ahead, he plans to continue scaling Rahimoto while exploring new investment models better suited to Bangladesh’s evolving business environment. His experiences and insights together offer a roadmap for cultivating a more resilient, competitive, and future-ready private sector that balances ambition with adaptability.
📺 Watch the full discussion on LightCastle Live’s YouTube channel
Guests
Waiz Rahim is a Venture Partner at Sturgeon Capital, where he supports early-stage technology investments across emerging markets, with a focus on founder development, product-market fit, and scalable growth models
