When Bangladesh Angels Network (BAN) launched in 2017-2018, seed funding was scarce in Bangladesh. Startups struggled to secure early capital, irrespective of their potential. Seven years later, the landscape has changed considerably—with BAN playing no small part in that evolution.
The angel investment platform has now appointed Ivy Huq Russell as its new chief executive. The founder of Maya, a digital healthcare company, and a seasoned investor, entrepreneur, and financial strategist, Ms. Ivy brings experience in both building startups and structuring investments, having begun her career in London's financial sector before returning to Bangladesh.
Under her leadership, BAN aims to build on its substantial track record, scaling BAN’s impact, expanding its global network, and deepening support for early-stage founders in Bangladesh. Since its inception, the network claims to have facilitated over 100 investments totaling $11 million across more than 50 startups. These portfolio companies have achieved a fourfold increase in valuation, with early exits yielding a 28% internal rate of return (IRR), impressive numbers for frontier-market angel investing.
Ms. Ivy inherits an organization founded by Tina Jabeen, Sajid Rahman, and Aavishkaar with a clear mission: connecting promising Bangladeshi founders with capital and mentorship. Her challenge now is to scale BAN's operations while maintaining investment quality.
The network's immediate plans include international expansion, process automation, and the launch of new investment vehicles—specifically, a venture fund on AngelList and a donor-advised impact fund. Supporting women entrepreneurs will remain a priority, reflecting BAN's commitment to inclusive growth.
“We are thrilled to welcome Ivy Huq Russell as the new CEO of Bangladesh Angels Network”, says Sanchayan Chakraborty, one of the board members of BAN. “Her extensive experience as an entrepreneur and investor aligns perfectly with our mission to support and scale early-stage startups in Bangladesh. We believe her leadership will be instrumental in driving BAN’s next phase of growth and innovation.”
Reflecting on her new role Ms. Ivy says, "Since the start of my career in London, I have been in Investment Management. This space intrigues me as I am always learning new things. Right now at BAN, I am learning the ropes in democratizing angel investing and the first step to that is access. Launching our platform at BAN we have worked relentlessly to lower the barrier to entry so investors can directly have access and invest in deals on their own time, build investment knowledge and confidence through education and member community."
As Bangladesh's startup ecosystem matures amid broader economic development, BAN's role as a catalyst for entrepreneurial growth appears increasingly vital. With fresh leadership and ambitious plans, the network seems well-positioned to navigate the next phase of the country's innovation journey
