Q1) The key question in his mind was that given the overall situation, did Pakistani companies

have
the same potential?

Ans: Yes, Pakistani companies had the same potential to become global companies, because, Asad
Jamal, founder of ePlanet Ventures, remembered about his investment which he did in Baidu a local
Chinese search engine which was developed by a few smart entrepreneurs realizing, through local
knowledge, that they could customize a search engine to meet the needs of the Chinese market and
later, this Chinese search engine became the most successful first-day foreign IPO in U.S. market history.
He had the same expectations, and apparently there was no reason for the Pakistani companies to not
become successful and to list themselves among the best in the world. As a Pakistani who for the last
ten years was witnessing Pakistan growing rapidly in the field of technology, considered Pakistan as
large market with a lot of talented people.

Q2 ). Asad sat and considered the issues over a hot bowl of his favourite Boston speciality, clam
chowder. His instincts told him that Pakistan was a seething cauldron of opportunity and potentially a
next frontier for technology-based entrepreneurship. China had been done. India had been done.
What was the next high-growth region, and was he willing to bet on his homeland? Keeping in mind
that Pakistan was a mere 60-years old, would his limited partners give him the time to allow Pakistan
to mature from the eastern equivalent of the Wild West, to a mature entrepreneurial community?

Ans: The next high growth region was Pakistan, as it was the 6th most populous country in the world
with an increasingly empowered middle class whose needs were starting to resemble those of the West,
such as access to satellite TV and the Internet. The U.S. venture capital community ( ePlanet founded by
Asad ) was also realizing that many technologies that have worked well in the West can be brought and
introduced in Pakistani markets. He had the same level of trust in Pakistani people, which he did before
investing in Baidu, a Chinese search engine, an idea of few individuals, which went on to become one of
the famous company not only in China but in the world, and that was the reason of him being ready to
invest and bet on his homeland.

According to one of his colleague and partner Ayaz ul Haque, Managing Director in the Silicon Valley and
New Delhi offices of ePlanet Ventures, said “What we look for in a company in a country like Pakistan is
whether the business can survive and sustain itself in the local market ‘’ . Asad also agreed with Ayaz
that a business must become successful in the local market because it has then more chances of growth,
Pakistan was also ranked as no.1 in South Asia for its “Ease of Doing Business”. So his limited partners
were surely ready to give him the time to allow Pakistan to mature from the eastern equivalent of the
Wild West, to a mature entrepreneurial community. Many foreign companies were setting up their
operations in the Pakistan. So ePlanet Ventures also did not want to miss a golden opportunity.
Q3 ) Adobe and Qualcomm had already invested in Pakistani companies, and ePlanet had the
opportunity to make its first investment. Asad realized that most emerging economies had reached
their current level of development from similar beginnings and Pakistan was no different. In risk there
was reward. Did he want to learn from others’ mistakes or make those mistakes himself and learn
from them? Should ePlanet be one of the first VC entrants into the Pakistani market?

Ans: Asad an experienced Pakistani, having spent most of his life away, working with different
companies had learned from the his vast experience and mistakes, he was also witnessing the growth of
overseas companies in Pakistan that gave him the opportunity to learn from their other mistakes, so he
always wanted to learn from others mistakes.

He, also recalled meeting his old friend Tom in Boston who told him about the economic boom which
came in Ireland in the late 1990’s, when the Irish people living in USA shifted to their homeland, taking
with them their established businesses, having access in USA also, which later changed the overall
economy of whole country. He had the same mindset, and saw the same potential in Pakistan and
thought about taking risk and starting 10 companies in Pakistan with the main goal of being acquired by
Google.

Asad also noticed that China and India had been in the same situation like Pakistan before, but now they
are considered as big economies in the world. So entering in Pakistan in the earlier stage when there are
no big names could benefit his company in the longer run, as by the time, others companies would like
to invest in Pakistan, his ePlanet Ventures would have become the brand. Keeping in view all these
facts, ePlanet should and must be one of the first VC entrants into the Pakistani market.