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Angel Investor (Individual)

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Investments

25

Portfolio Exits

1

Funds

2

About Josh Buckley

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Latest Josh Buckley News

Digital freight marketplace BridgeLinx raises $10 million in Pakistan’s largest seed funding

Sep 14, 2021

BridgeLinx, a 9-month-old Lahore-headquartered startup that operates a digital freight marketplace, said on Tuesday it has raised $10 million in what is the largest seed financing round in Pakistan. Harry Stebbings’ 20 VC, Josh Buckley’s Buckley Ventures and Indus Valley Capital co-led the startup’s financing round, which Salman Gul, co-founder and chief executive of BridgeLinx, told TechCrunch completed within weeks. This is 20 VC and Buckley Ventures’ second lead investment in Pakistan in recent weeks following an $85 million round in quick-commerce startup Airlift . Indus Valley Capital, which recently also backed business-to-business marketplace Bazaar , has invested in all three of the recent high-profile investments in the South Asian country. Wavemaker Partners, Quiet Capital, TrueSight Ventures, Soma Capital, Flexport, Magnus Rausing’s UNTITLED and founders of Convoy and Bazaar also participated in the round. BridgeLinx is building an asset-lite digital freight marketplace. The platform connects shippers — such as manufacturing companies, cement factories, textile companies — with truckers and private fleets. The platform provides its tech solutions to ensure documents validation on both ends, timely pickups, port operations and safety of cargo, said Gul, who previously worked at consultancy firm KPMG in Canada. BridgeLinx has already onboarded thousands of carriers and is moving thousands of freight-loads each week for many large customers, he said. As is true in India, Pakistan’s trucking system has a big inefficiency problem that continues to drag the economy. One of the biggest problems faced by truckers is that they are unable to find any use of their vehicles once they have made a delivery. So a truck delivering something to Karachi from Lahore is likely traveling empty on its return journey, which wastes both time and money. Startups like BridgeLinx are attempting to find ways to make this system more efficient, said Gul, who added that he has closely studied how Convoy, and India’s BlackBuck and Rivigo have expanded their businesses. BridgeLinx, like BlackBuck, currently operates on an asset-lite model — that is, it doesn’t own any vehicles. But Gul said there is benefit in replicating something from Rivigo, which owns its fleets. By having some trucks of its own, BridgeLinx will be able to ensure that vehicles on its platform are operating round the clock by having multiple drivers working in shifts. “We will eventually have a hybrid of what BlackBuck and Rivigo offer,” he said. BridgeLinx will deploy the fresh capital to expand to more verticals and broaden its tech offerings. The startup is also working on hiring more talent, he said. “BridgeLinx has cracked the code for making end-to-end freight work in a hassle free manner and therefore signed up some of the top businesses in Pakistan. We believe this team is well on its way to bring unprecedented efficiencies to the country’s economy and are really excited to partner with them,” said Aatif Awan, Managing Partner at Indus Valley Capital, in a statement. On a side note, it’s interesting to see Stebbings and Buckley being the earliest investors to back startups in Pakistan at a time when several high-profile venture funds in Asia — including Sequoia Capital India, Accel, and Lightspeed — are yet to make any move in the country. Arguably, it’s the best time to back startups in Pakistan. The internet penetration has grown considerably in the country in the past decade and scores of startups are beginning to build the railroads for commerce, logistics, and payments. Prosus has backed one startup in Pakistan — Bykea  — and it recently made its first investment Bangladesh — ShopUp , which counts Sequoia as one of its earliest backers.

Josh Buckley Investments

25 Investments

Josh Buckley has made 25 investments. Their latest investment was in Ladder as part of their Seed VC - II on October 10, 2021.

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Josh Buckley Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/28/2021

Seed VC - II

Ladder

$3.7M

Yes

2

10/13/2021

Seed VC - II

ScienceIO

$8M

Yes

Lachy Groom, Sea Lane Ventures, Section 32, and Undisclosed Angel Investors

5

9/8/2021

Seed VC

Unspun

$7.5M

Yes

1

8/18/2021

Series B

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$99M

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10

6/28/2021

Series B

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$99M

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10

Date

10/28/2021

10/13/2021

9/8/2021

8/18/2021

6/28/2021

Round

Seed VC - II

Seed VC - II

Seed VC

Series B

Series B

Company

Ladder

ScienceIO

Unspun

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Amount

$3.7M

$8M

$7.5M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Lachy Groom, Sea Lane Ventures, Section 32, and Undisclosed Angel Investors

Sources

2

5

1

10

10

Josh Buckley Portfolio Exits

1 Portfolio Exit

Josh Buckley has 1 portfolio exit. Their latest portfolio exit was Atrium on April 06, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/6/2020

Acq - Talent

1

Date

4/6/2020

Exit

Acq - Talent

Companies

Valuation

Acquirer

Sources

1

Josh Buckley Fund History

2 Fund Histories

Josh Buckley has 2 funds, including Buckley II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

Buckley II

$100M

1

Buckley CD SPV

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$99M

10

Closing Date

Fund

Buckley II

Buckley CD SPV

Fund Type

Subscribe to see more

Status

Amount

$100M

$99M

Sources

1

10

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