Ten Pakistanis Among Unicorn Founders in America

There are ten Pakistani immigrants included among founders or co-founders of unicorns in America, according to  a recent study by the National Foundation for American Policy (NFAP). A unicorn is a startup with a valuation of at least one billion U.S. dollars. Immigrant entrepreneurs of US unicorns are diverse, hailing from 76 different countries. India, with 96 companies, is the leading country of origin for the immigrant founders of U.S. billion-dollar companies. Immigrants from Israel founded the second-most billion-dollar companies with 60, followed by the United Kingdom (47), China (41), Canada (30), Russia (23), France (21), Germany (18), Ukraine (16), Australia (14), Pakistan (10) and Romania (10). Some companies were founded by entrepreneurs from the same country or immigrants from multiple countries.

Four of Ten Pakistani-American Founders Listed Among Unicorns


Why are Indian entrepreneurs leading the pack of unicorn founders/co-founders in America?  The key reason is that “the great Indian brain drain” is accelerating with the country rapidly losing its best and brightest to the West, particularly the United States. Large presence of the Indian immigrant unicorn founders in America is attributed to the fact that most immigrant founders come to the U.S. as students or H1B workers, categories dominated by Indians. Over 80% of the H1B visas go to Indian applicants. India also leads in sending students to study in US universities. 

Unicorns in America. Source: NFAP

Pakistan, too, is suffering brain drain but not on the same scale as India. Most prominent among Pakistan-origin unicorn founders/cofounders are Karachi-born Sualeh Asif, Lala Moosa-born Qasar Younis, Karachi’s NED University alumnus Rehan Jalil and Pakistani-American serial entrepreneur Zia Chishti. 

26 year old Karachi born Sualeh Asif, cofounder of Cursor (Anysphere) recently joined the list of Forbes Billionaires after Cursor reached a $29.3 billion valuation in November 2025, according to Forbes magazine. 

43 year old Qasar Younis, a Lala Moosa born Harvard-educated Pakistani-American, is the CEO of  Applied Intuition, a physical AI and autonomous vehicle software firm valued at $15 billion. Younis's resume includes his role as Chief Operating Officer of Y-Combinator, a spawning ground for tech giants Dropbox, Airbnb, and Stripe in Silicon Valley, according to Fortune Magazine.
Rehan Jalil, a fellow alumnus of NED University in Karachi, founded AI-powered data privacy and governance platform Security.AI. The startup has now been acquired by Veeam for $1.725 billion.
Zia Chishti is a serial entrepreneur from Pakistan. He founded Afiniti.AI which reached a $1.6 billion valuation back in 2017. founded his first company Align Technology in 1997 in Silicon Valley. It creates clear plastic braces for straightening teeth by using advanced 3-D computer imaging. The technology now trademarked as Invisalign has helped millions of people straighten their teeth for a beautiful smile without enduring the pain and unsightly looks of the traditional steel brackets and wires used in orthodontics. Align Technology is now valued at $10 billion.

The NFAP study found that immigrants have founded or co-founded 59% (455 of 775) of America’s privately held startup companies valued at $1 billion or more. That is an increase from 55% in NFAP reports released in 2018 and 2022. 

Approximately two-thirds (66%) of U.S. billion- dollar companies (unicorns) were founded or cofounded by immigrants or the children of immigrants. Nearly 80% of America’s unicorn companies (privately held, billion-dollar companies) have an immigrant founder or an immigrant in a key leadership role, such as CEO or vice president of engineering. Almost one in four U.S. billion- dollar companies, or 24%, have a founder who came to America as an international student. The research shows the importance of immigrants in cutting-edge companies and the U.S. economy at a time when U.S. immigration policies have grown more restrictive.

The collective value of the 455 immigrant-founded billion-dollar companies is $5.0 trillion, which is more than the total market value of companies listed on stock markets in all but 7 countries, including the UK and Germany, and a demonstration of the wealth-creating power of immigrants. The collective value of immigrant-founded billion-dollar companies rises to over $5.8 trillion if one includes unicorn companies that have gone public since 2016.

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  • Riaz Haq

    , with the global number of tech companies started by Pakistani-origin founders accelerating. Leading examples span AI, blockchain, fintech, and health tech, spearheaded by visionary entrepreneurs. [1, 2, 3, 4]
    Prominent Pakistani founders of unicorn and decacorn startups include:
    • Sualeh Asif: The 26-year-old from Karachi co-founded Cursor, an AI-powered coding platform. The company achieved a staggering valuation, making Asif one of the youngest self-made billionaires globally. [1, 2, 3]
    • Zia Chishti: A serial entrepreneur who holds the rare distinction of founding multiple unicorns. He is best known for creating Align Technology (the maker of Invisalign) and co-founding the enterprise AI company Afiniti. [1, 2, 3]
    • Mo Shaikh: A Pakistani-American who co-founded Aptos, a major Layer-1 blockchain platform that reached a $4.5+ billion valuation. [1]
    • Suneera Madhani: A first-generation Pakistani-American who founded Stax Payments, a leading fintech software and payments unicorn. [1]
    • Ilyas Khan: A British-Pakistani entrepreneur who founded Cambridge Quantum, which later merged with Honeywell to become Quantinuum, a multi-billion dollar quantum computing giant. [1]
    Note: Data tracking indicates a significant portion of these founders are part of an evolving "Visa to Venture" pipeline, utilizing degrees from institutions like MIT and scaling companies globally. [1, 2]
  • Riaz Haq

    Has higher education in India kept its promise?

    By Dr. Uppu Rao

    These issues may become even more important as artificial intelligence assumes a larger role in research, education, health care, industry, and other sectors. If AI increasingly performs routine analytical and information-processing tasks, the value of human creativity, scientific judgment, originality, and the ability to ask important questions may become even more important than technical proficiency alone. Educational systems will need to prepare students not only to use new technologies but also to contribute in ways that technology cannot easily replace.

    I should acknowledge that these observations are based largely on personal experience and may not fully represent the diversity of educational institutions and student experiences across India. Having lived outside India for nearly four decades, my perspective comes primarily from interactions with students, trainees, junior faculty, and colleagues with whom I have worked over the years. Through these interactions, I have observed significant changes in educational culture and student expectations, not all of which I view positively.

    One trend that concerns me is what I perceive to be a decline in intellectual engagement among some students, including at the doctoral level. Many students remain highly motivated, hardworking, and exceptionally talented. Nevertheless, I increasingly encounter students who view advanced education primarily as a pathway to migration. There is nothing wrong with seeking opportunities abroad, and many have gone on to make important contributions internationally. However, when geographic mobility becomes the principal objective, scholarship, intellectual growth, and the pursuit of excellence can become secondary considerations.

    These observations may not be representative of India as a whole, and I readily acknowledge that limitation. Nonetheless, they raise questions that deserve discussion. India has demonstrated a remarkable ability to broaden educational opportunities. The next challenge may be ensuring that educational quality, research capacity, and career opportunities develop in a manner consistent with the nation’s educational ambitions.

    India has made extraordinary progress over the past several decades. The question now is not whether the country can produce large numbers of graduates. It clearly can. The more important question is whether India can build an environment in which those graduates can realize their full potential and contribute meaningfully to the nation’s future.

  • Riaz Haq

    SpaceX Agrees to Buy #AI Coding Agent #Cursor for $60 Billion. One of Cursor’s cofounders is Asif Sualeh, an immigrant from #Pakistan. Sualeh, now a #SanFrancisco-based #tech billionaire, was born and raised in Karachi.#SpaceX

    https://www.wsj.com/business/spacex-agrees-to-buy-ai-coding-agent-c...

    Cursor kicked off the “vibe-coding” era and already brings in billions of dollars in annualized revenue. It was started by four MIT graduates (including Asif Sualeh from Pakistan) in 2023 as an encrypted-messaging startup, but has expanded into AI coding tools.

    Cursor makes a tool that allows developers to toggle between different AI models, from OpenAI and Anthropic to xAI and Google and others. The company competes with Anthropic’s Claude Code and OpenAI’s Codex, which can write code, debug software and automate tasks.