Pakistan’s Shark Tank deal worth Rs1.5 billion breaks global record

A Pakistani commodity firm, Saraaf, secured a massive Rs1.5 billion ($5 million) investment on Shark Tank Pakistan, the largest deal ever made on any investment show worldwide.

The company's founders secured a deal worth Rs80 crores (20% equity) and an additional Rs70 crores as a line of credit with a 3% royalty fee to accelerate their growth and dominate the market.

Previously, the largest Shark Tank deal was on the American show, where investors offered $2.5 million to a business.

Saraaf, specializing in premium onyx, cotton, and minerals, is a major player in the global onyx and marble export market. The company envisions itself as Asia’s premier business-to-business platform.

In a groundbreaking move, Usman Bashir, CEO of BrakeTime made a strategic investment in Saraaf.

Pakistan got its own "Shark Tank,” after the Grenlit Studios secured the franchise, putting the country's entrepreneurial talent on the global stage.

The show empowers aspiring entrepreneurs to pitch their business ideas to leading investors for a chance to secure funding.

The show's format originated in Japan in 2001 as "Tigers of Money." It was later adapted in the UK as "Dragon's Den" (2005) and in the US as "Shark Tank" (2009).

The popular business show has been broadcast in numerous countries with its 50th edition recently aired in Bangladesh in 2022. Sony Pictures Television distributes the licenses for international adaptations.

These investors include Rabeel Warraich of the venture capital firm Sarmayacar, Junaid Iqbal, who played a key role in Careem's expansion in Pakistan, and Romana Dada, who heads the Saudi Sovereign Wealth Fund's operations in Pakistan.

The panel also includes Faisal Aftab, a Pakistani-American entrepreneur and investor, and Usman Bashir, CEO of BrakeTime, an American-Pakistani corporation. Aftab is the founder and general partner of Zayn VC.