Business and Economics
Angel Fund to invest in local Startups

The Lankan Angel Network (LAN) has launched Sri Lanka’s first Angel Fund, established with the support of ecosystem development partner Ford Foundation, to catalyze the growth of Sri Lanka’s startup ecosystem.

A first of its kind in Sri Lanka, this Fund will be LAN’s flagship initiative moving forward, and is based on Rs. 100 million in investments from 100 individuals investing Rs. 1 million each.

The Fund will be managed by LAN’s fund management team, which will identify and evaluate opportunities for investment across the island, including in traditionally underserved regions. Importantly, it is dedicated to investing in, and mentoring and supporting, early-stage startups across multiple sectors; from making investments at the pre-revenue stage, to even helping startups identify sources for future funding.An ancillary goal of the Fund is to provide wider visibility into the deal flow, as well as curating the pipeline, so founders and startups enter the ecosystem better prepared, especially in terms of being more knowledgeable about the extensive funding and networking opportunities already available to them, both here and abroad.
NDB holds ‘Investor Forum’ to discuss audited results

NDB held an ‘Investor Forum’ recently to discuss the audited full year financial results for the financial year ended December 31, at Galadari Hotel, Colombo.

The event was preceded by NDB Chairman Kavan Ratnayake, NDB Director and Group CEO, Dimantha Seneviratne, NDB Senior Vice President Corporate Banking Buwaneka Perera, NDB Senior Vice President Personal Banking and Branch Network Management Sanjaya Perera, NDB Chief Operating Officer, Deepal Akuretiyagama, NDB Vice President Finance Suvendrini Muthukumarana and CEO of NDB Capital Holdings Limited Vajira Kulatilaka.

The Investor Forum marked the release of the Bank’s 2019 NDB Annual Report themed “Our Voyage Beyond”, to the Colombo Stock Exchange.

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Samurdhi Sipdhora scholarship for Kalmunai students

Samurdhi ‘Sipdhora’ scholarships were offered to 184 students who were high fliers at the G.C.E Ordinary Level Examination and for bright students selected among the Samurdhi beneficiary families in the Kalmunai DS division recently.

A ceremony was held at Kalmunai Divisional Secretariat Auditorium recently.

The ceremony was presided over by the Kalmunai Divisional Secretary M.M. Nazeer while the Ampara District Samurdhi Director M.S.M. Sabraz was the Chief Guest.

Scholarships of Rs 1,500 per month per student will be given until they complete the GCE Advanced Level Examination.

The Chief Guest at this occasion Ampara District Samurdhi Director M.S.M. Safraz other guests Kalmunai Divisional Secretary M.M. Nazeer, Kalmunai Divisional Secretariat Samurdhi Head Quarter Manager A.C.M. Najeem, Samurdhi Project Manager A.M.S. Nayeema, Management Director M.S. Rifaya, Samurdhi Zonal Bank Manager Moses Puviraj, Samurdhi Assistant Managers and Samurdhi Development Officers were handed over the scholarship and certificate to the beneficiaries.

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