CSE to help start-ups raise capital
Two tech start-ups are in the process of being publicly listed on the Colombo Stock Exchange (CSE), top officials said.
This was revealed at the Disrupt Asia 2025 launch media conference, where various institutions got together to make a better ecosystem for start-ups and small businesses in the country and the region through the Disrupt Asia Conference to be held in September.
“We are helping at least two start-up companies to go public,” Prajeeth Balasubramanium, Managing Partner BOV Capital, said. Industrial and Entrepreneurship Development Deputy Minister, Chathuranga Abeysinghe, highlighted the importance of mindset change, noting that it is important for start-ups and small businesses to raise funding through the CSE. “We need this ecosystem to be more connected. It is important for these businesses to be aware of how the CSE can be beneficial to help with capital raising for start-ups. Also, the development banks can come in for their financing for startups,” he explained.
Recently, the National Entrepreneurship Development Agency under Deputy Minister Abeysinghe’s ministry conducted a seminar on the CSE trading floor with the CSE for businesses with the potential for listing on the CSE Empower Board.
Mr. Balasubramaniam, who is also an adviser to the Information Communication Technology Agency of Sri Lanka (ICTA), noted the importance of creating a fund of funds and a pass-through structure where the funds will not be taxed.
Sri Lanka’s digital transaction landscape is poised for substantial growth, with current figures showing transactions valued at US$3.5 billion and the target of US$ 15 billion in five years.
This potential expansion is echoed by the ICTA, which expects that digital exports could generate $5 billion in revenue by the same year, ICTA Board Member Chandima Cooray said during the media conference. He also noted that the IT workforce is a current 85,000 to 200,000 in the tech industry and another 100,000 for the government and private sector.
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