Uzbekistan has experienced a significant increase in investment activities in its venture capital market; with both local and international venture capital firms actively involved in funding rounds and forming strategic partnerships. Local firms such as UZVC and Semurg VC have established collaborations with international investors and accelerators; which enable cross-border cooperation, the exchange of knowledge, and access to global markets. In this article, we have compiled a comprehensive list of the top VC funds and angel investors in Uzbekistan that may be the right funding partner for you.
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Venture Capitalist Funds in Uzbekistan
The venture capitalist funds below are actively looking for investments in promising companies throughout various stages and sectors. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed.
Year Founded: 2021
Geography: Eastern Europe, Central Asia and the Caucasus
Target industries: AI, Deeptech, Cleantech, Healthtech, Fintech, Hrtech, Edtech, Gametech, Cybersecurity and Life Science
Investment Stage: Post-Seed to Series B
Investment Ticket Size: $150K - $1.5M
CB Rank: 16,656
DOMiNO Ventures is a venture capital fund focusing on high-tech, pure-digital and first-day global startups with strong origins in Eastern Europe, Central Asia and the Caucasus. We are operating worldwide from our offices in Amsterdam, Istanbul, Estonia, Poland, Georgia, Azerbaijan, Kazakhstan and Uzbekistan.
DOMiNO Ventures believes in the region and its diaspora, helping local startups realize their global ambitions to create a DOMiNO Effect for Better Future. DOMiNO Ventures is backing founders who are solving new problems of the modern world in AI, Deeptech, Cleantech and beyond.
Year of Inception: 2020
Geography: Central Asia, Bangladesh, Pakistan, Egypt
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: TASS, Sugurta Bozor, Pastoral, Mohirdev
UzVC National Venture Capital Fund works in partnership with Sturgeon Capital, to provide funding in Central Asia. With a strong presence in the Uzbek market and impressive growth statistics, UzVC is dedicated to supporting the growth of startups and actively participates in financing startup projects through equity partnerships established through bilateral agreements. Additionally, the fund's pioneering Startup Growth Program, which includes valuable insights from investors and entrepreneurs in Silicon Valley, further demonstrates its commitment to nurturing and empowering local entrepreneurs.
Year of Inception: 2017
Geography: Uzbekistan
Stage: Seed, Series A
Focus: Sector Agnostic
RB Asia, established by RB Partners Group in 2017, is a highly regarded venture capital firm in Uzbekistan. The company's focus is on providing investment advisory and corporate finance services to both local and international companies looking for opportunities to expand and form partnerships. Specializing in venture capital investments during the early stages of company development, RB Asia is committed to utilizing its extensive industry network and practical business experience to effectively support its portfolio companies in gaining a significant competitive edge and achieving their business objectives.
Year of Inception: 2021
Geography: Uzbekistan
Stage: Seed, Series A
Focus: Technology, Financial Services, Retail Enterprise, Software
Notable Portfolio: Multicard, Jett, Rahmat, Multibank
SEMURG VC is an esteemed private equity and venture capital firm headquartered in Tashkent, Uzbekistan, focusing primarily on the CIS market. The company combines a venture capital fund and a Venture Builder to actively support the creation and expansion of technology startups. With a strong emphasis on technological solutions in areas such as financial services, retail, and enterprise software, SEMURG VC provides valuable tools, expertise, and access to a vast network of industry professionals to early-stage businesses.
Closing Thoughts on VCs and Angel Investors in Uzbekistan
The partnership between local venture capital funds and global counterparts has played a crucial role in granting Uzbek startups the opportunity to reach international markets, establish valuable connections with prominent corporations and investors worldwide, and enhance the capabilities and understanding of Uzbek entrepreneurs through mentorship programs, workshops, and events. As the nation continues its efforts to rejuvenate its economy and attract global investors, there is a positive outlook for the startup ecosystem.
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Frequently Asked Questions on VCs and Angel Investors in Uzbekistan
What characterizes the current venture capital and angel investment landscape in Uzbekistan?
Uzbekistan's investment ecosystem is undergoing rapid transformation, driven by the country's economic liberalization reforms and growing tech sector. The startup landscape is supported by key institutions like the IT Park Uzbekistan, Digital Trust Fund, and Venture Capital Association of Uzbekistan. The ecosystem has seen increasing interest from both local and international investors, particularly focusing on Tashkent's emerging innovation hub, which connects entrepreneurs with investors from across Central Asia, Russia, and the Middle East.
How do Uzbek startups typically access investment funding?
Uzbek entrepreneurs primarily secure funding through a combination of government-backed programs, emerging local angel networks, and international investors interested in Central Asian markets. Key platforms include the IT Park Acceleration Program, Startup Initiative Project, and various tech competitions sponsored by both state and private entities. Many startups leverage Uzbekistan's large market size and growing digital economy to attract investors, particularly those interested in the country's rapid technological development and market reforms.
Which sectors in Uzbekistan attract the most venture capital and angel investment?
The most promising sectors for investment in Uzbekistan include fintech solutions, e-commerce platforms, agricultural technology, and digital services. The country's large young population and increasing internet penetration have created opportunities in mobile services and digital payments, while its strong agricultural base has sparked investor interest in agritech innovations. Additionally, sectors like edutech, logistics technology, and marketplace platforms are gaining traction among investors due to the country's modernization efforts.
What government initiatives support startup investment in Uzbekistan?
Uzbekistan's government actively promotes startup investment through various initiatives including the Digital Uzbekistan 2030 strategy, IT Park tax incentives, and innovation grants. Key support mechanisms include the Digital Trust Fund, simplified business registration for tech companies, and special economic zones for IT firms. The government has also established partnerships with international organizations and investors to strengthen the venture capital ecosystem and create favorable conditions for both domestic and foreign investment.
What are typical investment terms and funding ranges in Uzbekistan's startup ecosystem?
Investment tickets in Uzbek startups typically range from $20,000 to $200,000 for angel investments, while early-stage venture capital funding usually falls between $200,000 and $2 million. Terms often emphasize market expansion potential, particularly targeting Uzbekistan's large domestic market and neighboring Central Asian countries. Investors frequently look for startups that can leverage Uzbekistan's strategic advantages, including its large population, improving business environment, and growing digital infrastructure.
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