pasargad Research & Tech Fund Launch with Vastra
pasargad Private Research & Technology Fund Launch with Vastra Holding
pasargad Bank has tied targeted investment to innovation and emerging technologies.
In April 2025, pasargad Bank, in partnership with the knowledge based holding Vastra, officially launched the country’s first bank corporate venture capital fund under the name pasargad Corporate Venture Capital Non Governmental Research and Technology Fund. This fund has been designed to develop the innovation ecosystem and benefit from tax incentives, acting as a bridge between the bank’s financial resources and high potential knowledge based projects. The launch of this fund marks a milestone in the growth of the country’s knowledge based economy and could pave the way for a vibrant capital market, increased competitiveness of technology companies and the attraction of strategic investments in the coming years.
pasargad Bank has established this fund to achieve sustainable financial returns and significantly reduce income tax costs, relying on a precise financial model and a multi layer decision making system. In this model, the process of evaluating and selecting projects is reviewed at multiple expert and managerial levels to ensure transparency and compliance with corporate governance standards while minimizing investment risk. Thanks to this structure, fund managers will be able to identify high growth potential projects and make decisions based on data and specialized analysis.
The pasargad Corporate Venture Capital Non Governmental Research and Technology Fund will invest specifically in the fields of health, food security and innovative agricultural technologies. These areas are strategic priorities of pasargad Bank and holding Vastra, and investing in them can create economic added value and help improve the country’s food security indicators and advance the health industry. By focusing on these value chains—from agriculture and input supply to processing and final product distribution—the fund’s investment model demonstrates its key strength.
One of the fund’s most prominent advantages is its entitlement to the tax incentives set forth in Article 11 of the Knowledge Based Production Leap Law. Under this provision, banks may register the equivalent of 30 percent of their investments in research and technology funds or knowledge based companies as a tax credit and apply it against current or future income taxes. These incentives significantly lower the financial costs of investing and enable investors to participate in innovative projects with greater confidence. The reduction of financial risk through this tax credit, combined with the high expected returns of knowledge based initiatives, has substantially increased the attractiveness of investing in the pasargad Corporate Venture Capital Non Governmental Research and Technology Fund.
The corporate venture capital (CVC) model on which the pasargad Corporate Venture Capital Non Governmental Research and Technology Fund is based does not share common ground with traditional banking investments. In conventional banking, financing is provided primarily through loans or the purchase of fixed rate securities; however, in the CVC model, pasargad Bank acts as a shareholder and active project partner. This dual engagement enables the bank to benefit from the profits generated by the growth of startups and at the same time, through membership in the ownership structure, to influence strategic management and major business decisions. This approach makes investment not just a financial process but a platform for transferring knowledge, experience and facilitating networking between the financial and technology sectors.
By adopting this strategic decision, pasargad Bank reinforced its position as an innovative financial institution focused on asset management and a long term outlook. Access to Vastra Holding’s technical resources and its more than a decade of experience in the technology sector has created a unique synergy within the fund’s management team. The combination of technical expertise and financial strength elevates the capability to evaluate and support knowledge based companies to the level enjoyed by successful international players in the CVC industry.
The launch of the pasargad Corporate Venture Capital Non Governmental Research and Technology Fund is only the beginning, and pasargad Bank hopes that in the near future, by developing innovative financial instruments and expanding the scope of specialized investments, it can become one of the main players in the technology capital market. This initiative, alongside the development of scalable startups, will create new opportunities to attract domestic and foreign investors. Moreover, an active presence in the country’s specialized financial markets, including supply chain finance funds and modern debt markets, can lay the groundwork for sustainable growth for pasargad Bank and Vastra Holding.
Given the rapid evolution of the technology landscape and the growing importance of innovation in economic development, the launch of this fund can play a key role in strengthening the country’s technology ecosystem. It is anticipated that, in collaboration with knowledge based companies and technology firms, pasargad Bank will be able to make successful investments in priority projects within the next three to five years, while simultaneously serving as a driving force for technology transfer and value chain management. This process, in addition to creating financial value for shareholders, will help increase employment in advanced sectors of the economy and improve the country’s food security and health indicators.
Ultimately, the launch of the pasargad Research and Technology Corporate Venture Capital Non Governmental Fund in partnership with Vastra Holding has shown that collaboration between the banking sector and the innovation ecosystem can produce lasting and sustainable results. By taking this decisive step toward the intelligent financing of knowledge based projects, pasargad Bank and Vastra Holding have outlined a long term vision for technology driven economic development in the country, and this model is expected to become a widespread example for other economic players in the coming years.