Business
Dr. Cornelius Boersch confident in Sri Lanka as haven for Global Venture Capitalists and Angel Investors
Dr. Cornelius ‘Conny’ Boersch is the most active Tech-Investor in Europe; and the largest Venture Capitalist in Latin America.
Keen to promote the replication of proven, successful models and business ideas for implementation in Sri Lanka.
Sri Lanka continues to have an untapped market, with very little risk for investors, given the potential of the market.
Dr Cornelius Boersch – European Business Angel of the Year (2009) and a Certified Super Angel by the European Investment Fund (EIF), during his first visit to Sri Lanka this year partook in a private event held on October 13, 2021 at Hatch Works in Colombo. The event which welcomed a limited number of guests, was broadcasted via Facebook Live for local and global audiences.
Conducted in partnership with Hatch Works, Lion ventures, and The Council for Startups, the event featured a conversation-style knowledge sharing session with Dr. Boersch, led by Founder, Veracity AI – Jeevan Gnanam, and was later joined by Co-Founder, Hatch Works – Nathan Sivaganathan and Managing GP, BOV Capital Ltd – Prajeeth Balasubramaniam, and was concluded with a Q&A session.
Speaking at the event, Dr Boersch noted “There is no shortage of knowledge, talent or passion in Sri Lanka. However, the biggest challenge I see here is the conservative mindset and the belief that the Sri Lankan market works differently compared to the rest of the world. When I started the largest food delivery company in Europe many people said that this model could not be applied to countries such as India and even Saudi Arabia, but we see that the food delivery companies are the most successful businesses in today’s market.
The world has become so similar that ideas that work in London and Berlin can also work in Colombo. Sri Lanka has one great advantage (although you may see this as negative), you are five years behind. This means you don’t have to make the same mistakes that others have, you can instead replicate models that have been tried and tested and developed to be successful. There are business models that can be applied to any market, and entrepreneurship doesn’t mean you have to create something new. I see the potential in Sri Lanka.”
General Partner, Lion Ventures – Love Yadav, the key personality behind the partnership with Dr. Cornelius Boersch, noted “As early stage investors we look for new opportunities and it is apparent that Sri Lanka is ideal where untapped potential is concerned. After successfully deploying capital for the first round of funding, Lion Ventures is closing in on its second round of funding wherein 60% of its capital will go towards venture build up ideas and the remaining 40% towards promising local startups that are easily scalable and globally transportable. I would like to thank the Board of investments and its Chairman Mr Sanjaya Mohottala who has played an integral role in the success of this trip”.
Dr Boersch spoke passionately about the need for replicating models proven for success in other markets, but adapting them to Sri Lanka’s market. Whilst his focus remains on developing the entrepreneurial ecosystem in Sri Lanka, he also delved into the concept of changing the local mindset, and for serial entrepreneurs to take on the role of investors to help newer entrants. His three-day business tour of Sri Lanka included discussions with the Founders of promising startups, The Council of Startups, Port City commission; as well as private meetings with top business houses and a courtesy visit with the Minister of Youth & Sports and Development Coordination & Supervision – Namal Rajapaksa, where the future of Sri Lanka’s strategic digital revolution was discussed in depth. Acting in partnership with Lion Ventures – a private investment vehicle formed to make long term investments through a venture build up structure focussed on digital transformation and clean technology models Dr Boersch aims to fast-track his strategic goal of further developing Sri Lanka’s local market and its entrepreneurial prowess, as he is set to revolutionise Sri Lanka’s entrepreneurial ecosystem.
Investment Director, Mountain Partners – Jorge Perez Garcia concluded: “Sri Lanka is at the inflection point of digital disruption as the Sri Lankan Startup ecosystem is ready to bloom. During this short but insightful visit to its capital, Colombo, we have been inspired by the talent of founders and managers alike, as well as by the new measures that the government will put in place in the coming months to support entrepreneurship. We are clear this is a pivotal moment for the country; we have seen it many times in other countries around the World and we see the same starting in Sri Lanka. Together with our local partner, Lion Ventures, we are starting a journey to capture opportunities in the digital space through our Company Builder and Early Stage Fund. With them, we plan to nurture and boost the local talent, bring successful disruptive business models to the country and back some of the most promising local teams. We want to invite every family office, investor, manager and entrepreneur to join us in this exciting journey that will boost the country’s long-term economic growth and open the door to a brighter future for new generations to come.
As the founder of Mountain Partners AG and Conny & Co. AG, Dr Boersch has been an entrepreneur since 1990 and the founder of ACG AG, a leading company in the RFID market. He was also the Founder/ Chairman of Rocket Internet, a multi billion dollar global company. His global portfolio also includes space logistics and drone technology. (News release)
Salesforce, the world’s leading AI-powered CRM platform, is set to expand its presence in Sri Lanka with the launch of the Salesforce Startup Program by the end of January 2026, signalling growing confidence in the country’s technology-led growth potential.
The move comes as Sri Lanka consolidates its position as the second-largest startup ecosystem in South Asia after India, with software, data and artificial intelligence-driven ventures accounting for nearly 60 per cent of the national startup base.
Industry observers say this concentration places Sri Lanka at a decisive stage where global exposure and enterprise access could unlock the next phase of scale.
Under the programme, Sri Lankan startups will gain access to Salesforce’s global ecosystem, including AI-powered platforms, business and technical mentorship, joint go-to-market opportunities and connections to enterprise customers, enabling founders to build globally competitive solutions from Sri Lanka.
“Sri Lanka has developed a strong base of technical talent and entrepreneurial ambition that is increasingly visible regionally and globally,” said Arundhati Bhattacharya, President and CEO of Salesforce South Asia.
“Through the Salesforce Startup Program, we aim to help startups move beyond early momentum to global relevance while delivering long-term economic impact,” he added.
He also said the initiative builds on the success of its Startup Program in India and Singapore, which today supports over 435 startups, including more than 230 AI-first companies. Several participants have expanded across Asia and beyond by building products natively on the Salesforce platform.
Responding to queries, he said Sri Lanka is also emerging as an important enterprise market for Salesforce, with major corporates such as John Keells Holdings and Cinnamon Hotels adopting the platform to modernise customer engagement, sales, marketing and loyalty management operations.
In parallel, Salesforce is strengthening the country’s digital talent pipeline through its Trailhead learning ecosystem, with plans to skill nearly 1,000 learners over the next year via local workforce development partners and community-led cohorts.
Chamil Madusanka, Head of Salesforce Practice and Salesforce Architect, said the programme arrives at a critical juncture for Sri Lanka’s startup ecosystem.
“Sri Lankan founders are increasingly building AI, data and enterprise software solutions with global relevance,” Madusanka told The Island Financial Review.
“What many startups need is structured access to enterprise customers, global mentorship and market exposure. This initiative creates that bridge, enabling local companies to scale faster while remaining rooted in Sri Lanka.”
He said the Startup Program is designed to act as a connective platform, bringing together startups, enterprises, technology partners, universities and developer communities to accelerate collaboration and innovation.
By Ifham Nizam ✍️
CSE activities were extremely bullish yesterday following Central Bank Governor Dr Nandalal Weerasinghe’s announcement that Sri Lanka’s foreign reserves had risen to US $ 6.8 billion in December 2025, up US$ 791 million from November 2025.
The Governor provided the estimated economic growth while announcing the Central Bank’s policy agenda for this year.
In December Sri Lanka received budget support loans from the Asian Development Bank and the International Monetary Fund.
Dr Nandalal Weerasinghe
Amid these developments both CSE indices moved upwards. The All Share Price Index went up by 226.81 points, while the S and P SL20 rose by 100.01 points. Turnover stood at Rs 12.3 billion with 12 crossings.
Top seven crossings that mainly contributed to the turnover were: Lee Hedges 18.2 million shares crossed to the tune of Rs 3.9 billion; its shares traded at Rs 416, Commercial Bank 2.1 million shares crossed for Rs 467.6 million; its shares traded at Rs 215, Ceylon Hotels 429,000 shares crossed for Rs 128.7 million; its shares traded at Rs 300, LB Finance 650,000 shares crossed for Rs 105 million; its shares sold at Rs 152.50, Ceylinco Holdings 31000 shares crossed for Rs 104.5 million; its shares traded at Rs 3400, Melstacorp 200,000 shares crossed tfor Rs 35.7 million; its shares sold at Rs 178.50 and Three Acres Farm 400,000 shares crossed to the tune of Rs 29.6 million; its shares fetched Rs 740.
In the retail market top seven companies that mainly contributed to the turnover were; Wealth Trust Securities Rs 1.17 billion (55.8 million shares traded), Commercial Bank Rs 509 million (2.4 million shares traded), HNB Rs 370 million (870,000 shares traded), ACL Cables Rs 303 million (three million shares traded), Prime Lands Residencies Rs 283 million (7.9 million shares traded), Lanka Realty Rs 227.5 million (4.7 million shares traded) and HNB Rs 218 million (332,000 shares traded). During the day 223.7 million share volumes changed hands in 55116 transactions.
Yesterday, investor interest in Wealth Trust and banking stocks led to higher activity levels, brokers said. Further, the real estate sector also performed well. Lanka Realty Investments PLC acquired 51 percent of the total number of shares in issue of Lee Hedges, CSE sources said. 13,057,595 ordinary voting shares were bought at Rs 216 each.
Yesterday the rupee opened at Rs 310.12/18 to the US dollar in the spot market, weaker from Rs 310.05/15 the previous day, dealers said, while bond yields opened marginally high.
By Hiran H Senewiratne ✍️
The Gamani Corea Foundation (GCF) is pleased to announce the launch of the monograph Development: Not By Economics Alone by Dr. Nimal Sanderatne, Emeritus Chairperson of the Foundation. The foreword to the publication has been written by Dr. Godfrey Gunatilleke, one of Sri Lanka’s most eminent development economists. The launch ceremony will be held on Friday, 9th January 2026, at 4.00 p.m. at the Horton Lodge.
In this monograph, Dr. Sanderatne argues that development cannot be understood through economic indicators alone. He emphasizes that the quality of human capital depends not only on knowledge and skills acquired through formal education, but also on deeper, non-formal processes embedded in a society’s culture and value systems. These influence human behaviour, shaping work ethics, attitudes to work and leisure, capacity for teamwork, preferences between short- and long-term goals, and patterns of saving and consumption.
Dr. Sanderatne is a distinguished economist and academic, holding degrees from the Universities of London, Saskatchewan, and Wisconsin, and was conferred the Doctor of Science (Honoris Causa) by the University of Peradeniya in 2004.
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