Hum Network Subsidiary Partners With GS Group for $50 Million Tech Fund

Hum Network Ltd announced on Thursday that Hum Network FZ LLC, a wholly-owned subsidiary of the media giant, has entered into an arrangement with GS Group Inc to manage a multi-million dollar tech fund. According to the stock filing, both parties have inked a collaboration as General Partners (“GPs”) where the GPs will work together to launch and manage a fund named Pakistan Katalytic Fund (PKF) with an expected fund size of close to $50 million. “Through PKF, GPs will invest the funds of different limited partners (LPs) in technology and related companies, which have the potential to scale their businesses with an objective of generating target returns for investors,” the fund stated in the regulatory filing. The GPs will collaborate and pool their respective expertise to manage the PKF and establish fund management companies in any jurisdiction, according to the statement.