Shark Tank Pakistan Faces Scrutiny After Failed Deal

ISLAMABAD: A recent LinkedIn post has reignited debates around Shark Tank Pakistan’s operations, as an entrepreneur publicly shared their experience of an investment deal that never materialized, despite initial approval on the show.

The entrepreneur, who pitched their idea in August 2024 and had it aired in December 2024, officially announced, “Alhamdulillah, this effort that began last month has now come to a close.”

According to their account, post-show due diligence began in January 2025, and both parties maintained communication in the early stages.

However, the situation deteriorated when responses from the show’s team suddenly stopped. The entrepreneur wrote, “Communication from their side ceased completely, leaving us in a state of uncertainty and silence.”

Clarifying that the failure to secure funding was not due to a lack of investor interest, they explained,

“The reason is not due to a lack of potential or interest, but rather due to the ongoing mismanagement and internal issues on their side—issues that, unfortunately, were never addressed or resolved.”

They emphasized that the goal of sharing the update was not to assign blame, but to promote transparency:

“This effort was never about blame. It was about transparency, about sharing the reality, and helping others understand the full picture.”

The experience highlights rising criticism of Shark Tank Pakistan’s first season. The show faces allegations of favoritism and poor due diligence. A viral tweet by @Huk06 accused it of favoring entrepreneurs with elite academic backgrounds. Graduates from LUMS and foreign universities were reportedly prioritized. Meanwhile, grassroots founders with practical skills and local ideas were sidelined.

Investors and Startups Under Fire

Prominent investor Aleena Nadeem, CEO of EduFi, is among those under public scrutiny. Her startup’s loan policy, which withholds degrees until repayments are made, has sparked ethical concerns. She claimed to have facilitated JP Morgan’s investment in Paytm. However, that deal later faced serious financial challenges, and her claim has been questioned.

Adding fuel to the controversy, Ahmed Rauf Essa, CEO of Telemart, revealed that several startups from Season 1 are now under FBR investigation for tax discrepancies. Some startups reportedly disclosed less than 20% of their financials, triggering legal action.

The credibility of Shark Tank Pakistan was also questioned internationally when Indian judges Anupam Mittal and Aman Gupta mocked a pitch requesting PKR 300 crore for 3% equity. Mittal called the pitch “fundamentally wrong.” This led to a public response from Pakistani investor Usman Bashir, who defended the show and dismissed the criticism as coming from “old and outdated” figures.

A Mixed Legacy and Future Ahead

Despite the backlash, the show has had notable success stories. Most prominent is Arshad Khan, known as the “Chaiwala,” who secured a PKR 10 million investment for his café chain Chaiwala & Co., showcasing the show’s potential to uplift underrepresented talent.

Shark Tank Pakistan is preparing for its second season, with only Faisal Aftab returning from the original panel. It remains uncertain whether these criticisms will lead to meaningful reforms. What is clear, however, is that calls for transparency, inclusivity, and accountability are growing louder and harder to ignore.