Dearo Venture Capital Ltd, Sri Lanka’s largest venture capital institution, has officially announced the appointment of its new Board of Directors at a special media conference held on September 10.
The event brought together members of the media, business leaders, investors, stakeholders and members of the Dearo management team to unveil the company’s renewed strategic direction and long-term vision for supporting entrepreneurship and economic development in Sri Lanka.
The newly appointed Board comprises professionals with extensive experience across finance, banking, governance, technology, risk management, human resources and corporate leadership. The Board is headed by K.M.M. Jabir, Chairman and Independent/Non-Executive Director, and includes Neil Bogahalanda, Lalith Fernando, Muditha Welihinda and Shaheena Mohammed as Independent/Non-Executive Directors.
The Board also includes Prasanna Ranasinghe as Non-Independent Executive Director, who leads the team at Dearo Venture Capital.
Speaking at the event, Ranasinghe highlighted the company’s growth since its establishment, noting the increasing confidence placed in the institution by customers, investors and other stakeholders.
“Over the past four years, Dearo Venture Capital Ltd has emerged as a significant force within Sri Lanka’s investment and financial services sector. Today, we serve more than 25,000 customers through a network of 25 branches island wide, supported by a dedicated workforce of over 350 professionals. Dearo Venture Capital Ltd has successfully built an asset base exceeding Rs. 5 billion, reflecting the confidence and trust placed in the institution by investors and stakeholders across the country,” he said.
The new Board is expected to provide strategic leadership and strengthen corporate governance as Dearo Venture Capital expands its role in supporting entrepreneurship, innovation and sustainable economic development across Sri Lanka.
Chairman K.M.M. Jabir emphasised the company’s focus on directing investment towards productive sectors that contribute to national development.
“Unlike traditional investment models, Dearo directs resources toward productive sectors that contribute directly to national development, including tourism, agriculture, fisheries, manufacturing, trading, education, engineering and service industries,” he said.
Through strategic investments and partnerships, Dearo supports Micro, Small and Medium Enterprises (MSMEs), helping entrepreneurs access growth capital, expand their operations, create employment opportunities and strengthen local economies.
“With the newly appointed dynamic and experienced Board of Directors, Dearo Venture Capital intends to strengthen Sri Lanka’s economy in a more feasible way,” Jabir added.
The company’s broader focus is on connecting investment capital with entrepreneurial potential, creating opportunities for business growth while generating sustainable wealth for investors.
Dearo Venture Capital has also strengthened its sector-based approach through its specialised subsidiaries, Dearo Agri, Dearo Education, Dearo Engineering, Dearo IT and Dearo Investment. Through these businesses, the company aims to expand its contribution across key sectors while creating further opportunities for entrepreneurs and investors.
The appointment of the new Board marks another step in Dearo Venture Capital’s development as it seeks to expand its reach and strengthen its contribution to Sri Lanka’s entrepreneurial ecosystem and wider economic development.
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