How we work
Shenasa, as the venture capital arm of Pasargad Financial Group, empowers innovative startups to realize their bold ideas and dreams. With over 170 approved investments in the past 12 years, Shenasa demonstrates its unwavering commitment to operationalizing the innovative values of Pasargad Financial Group and valuing the contributions of startup founders. If you are a startup seeking investment, you can start the process of submitting your proposal here.
Shenasa's Investment Framework
Shenasa outlines the general operational guidelines for its various components in its investment policy, specifying the expected investment objectives and detailing the organization’s mechanisms and initiatives. Shenasa seeks profitable investments. Shenasa conducts assessments to distinguish promising businesses from average ones. Each Shenasa investment should have the potential to become exceptional. Shenasa is not afraid of failed investments.
Shenasa's Investment Approaches
Venture Capital
Shenasa’s current investment approach focuses on technology-driven businesses and innovative startups that have progressed beyond the early stages of development and have a clear understanding of their market, product, and services.
Venture Creation
Through this approach, Shenasa, based on national issues and the capabilities of Pasargad Bank, establishes businesses with large markets and high operational capacity. It focuses on identifying suitable opportunities and addressing national needs in various industries by creating and managing new businesses.
Pre-IPO Investment
Given the current landscape, many innovative companies and startups have the potential to enter advanced stages of development or go public. Shenasa, through its pre-IPO investment model, seeks to generate profits and diversify its risk portfolio.
Institutional Development
To provide services to teams and innovative businesses at various levels, Shenasa has developed the following specialized institutions:
Acceleration Program
The Trig-Up Accelerator, as the acceleration arm of Shenasa, assists in the growth of sustainable startups by providing expert teams, specialized mentoring, and effective connections to a network of investors, influential individuals, and institutions.
Startup Studio
The Chinowa Startup Studio operates in the blockchain space. Using innovative tools, it empowers entrepreneurs with its expertise in innovation, entrepreneurship, and blockchain knowledge to create startups that solve real-world problems and improve people’s lives globally.
Research and Technology Fund
Shenasa plans to establish its own research and innovation fund with the aim of creating opportunities for private sector participation and investment, and financing research, scientific, and technological activities, as well as startups, technology-based companies, creative enterprises, accelerators, and knowledge-based companies.
Shenasa's Investment Stages
Shenasa’s investment process spans from the early stages of growth to the pre-IPO phase, aligned with the capabilities of the country’s innovation ecosystem:
Seed Stage
Investments at this stage are made in seed and pre-seed stage businesses through the Trig-Up Accelerator and the Chinowa Startup Studio.
Growth and Scalability Stage
Startups in the early stages of growth undergo Shenasa’s investment process through two approaches: venture creation and venture capital.
Development Stage
At this stage, startups in their secondary growth phases undergo Shenasa’s investment process through two approaches: the research and technology fund and pre-IPO investment.
Stable Growth Stage
Businesses that have achieved sufficient growth and maturity for an initial public offering (IPO) enter this stage of Shenasa’s investment process.
Evaluation and Selection Process at Shenasa
Shenasa’s investment process involves:
3. Investment:
Board of Directors review
Developing key performance indicators
Contract negotiations
Contract signing
Initial payment to the investee
2. Due Diligence:
Signing a confidentiality agreement
Receiving additional information and documentation
Conducting additional technical, financial, and other meetings
Preparing a detailed evaluation report
Final review of the proposal in the Investment Committee
Sending a term sheet
- Initial Screening:
Review of initial informatio
Initial phone call
Business presentation meeting
Review of the proposal in the Investment Deputy
Review of the proposal in the Investment Committee
