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Top 15 VC (Venture Capital) Funds in Uzbekistan in July 2025

Last updated: Jul 2025 A list of 15 VC (Venture Capital) funds that invest in startups based in Uzbekistan. We rank investors based on the number of investments they made in companies from Uzbekistan. We update this investor list every month.

Top 15 VC (Venture Capital) Funds in Uzbekistan in July 2025

Investor	Uzbekistan investments
Sturgeon Capital	8
European Bank for Reconstruction and Development	2
UzVC National Venture Capital fund	2
Caucasus Ventures	2
AloqaVentures	2
Quest Ventures	1
Women Entrepreneurs Finance Initiative	1
Vector Crypto Capital	1
Le Mercier’s Capital	1
Battery Road Digital Holdings	1
Block0	1
TaiwanICDF	1
Finnfund	1
Tesla Capital	1
FinSight Ventures	1

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Investor list

Unique investment funds for those who believe the best opportunities for profit, impact, and innovation can be found in frontier & emerging markets.

Investment focus

FinTech, Software, E-Commerce
Seed, Series A, Pre-Seed
Uzbekistan, Pakistan, Bangladesh

Portfolio highlights

Cargon — A simple, fast and innovative industry leading service with powerful analytical tools.
DealCart — DealCart enables users to buy their favorite products in groups by allowing users to buy in groups and sharing deals on WhatsApp and other social media platforms.
Oasis — Oasis provide loans to small businesses and individual entrepreneurs.

The European Bank for Reconstruction and Development (EBRD) invests in changing lives. Through our financial investments, business services and work on policy reform, we're doing more than ever before to build open, market economies across 3 continents.

Investment focus

Financial Services, Banking, Finance
Debt Financing, Post-IPO Debt, Funding Round
Turkey, United States, Poland

Portfolio highlights

Scatec ASA — Scatec is a leading renewable power producer, delivering affordable and clean energy worldwide.
Cosmos Health — Cosmos Health Inc. (NASDAQ: COSM), is a fully reporting Pharmaceutical Holding Company based in Chicago, Illinois, USA, that specializes, through its subsidiaries, in the wholesale of pharmaceutical products throughout Europe.
Crnogorski elektrodistributivni sistem — Crnogorski elektrodistributivni sistem is the state-owned energy distribution corporation in charge of supplying electricity to consumers through its enormous network.

UzVC is a state fund of funds to develop the local VC and a startup ecosystem.

Investment focus

EdTech, Software, Education
Seed, Pre-Seed
Uzbekistan

Portfolio highlights

Modme — O`quv markazlarini avtomatlashtirish platformasi
TASS Vision — A startup company specializing in computer vision based on artificial intelligence and embedded technologies. The company develops and implements technologies such as recognition, detection, tracking and classification, which runs on small embedded computers. In other words: A company that is essentially your second eyes.The company was foundedin 2019.
TASS VISION — TASS VISION is an artificial intelligence tool that helps to increase by 15% revenue of retailers via providing in-store analytics. Available to any retailer, our solution helps to reduce routine tasks, optimize internal process, improve the customer experience, increase sales and profit now. In the future we are planning to provide full autonomouscheckout free technology any size of retailer.TASS VISION was founded in 2019 and it is based in Tashkent city, Uzbekistan.

Caucasus Ventures is a venture capital firm.

Investment focus

Artificial Intelligence, Software, Financial Services
Seed, Pre-Seed, Series B
United States, Azerbaijan, Georgia

Portfolio highlights

Clopos — Clopos provides next-generation solutions that simplify and automate work in restaurants and other food businesses, making management more convenient and efficient
TASS Vision — A startup company specializing in computer vision based on artificial intelligence and embedded technologies. The company develops and implements technologies such as recognition, detection, tracking and classification, which runs on small embedded computers. In other words: A company that is essentially your second eyes.The company was foundedin 2019.
Glacies Biome — Discover the Future of Personalized Skincare Powered by Microbiomics & AI

AloqaVentures is corporate venture fund of Aloqabank that invests in pre-seed and seed stage startups

Investment focus

SaaS, FinTech, Artificial Intelligence
Seed, Pre-Seed
Tajikistan, Uzbekistan

Portfolio highlights

Push30 — Push30 is a mobile fitness application which provides corporate benefits to its users providing unlimited access to gyms and fitness venues with a single membership. The goal of the application is to restructure the fitness industry, encourage fitness culture in Azerbaijan and become a household name for fitness across the country.
Delever — Delever is an automation platform for delivery that assists businesses of various sizes in efficiently managing resources, scaling up, establishing quality communications with customers, increasing profits, and delivering orders as quickly as possible right to the doors of their consumers.
Unitlab — Accelerate your data annotation process by 15x faster with auto-annotation tools and improve quality through collaborative annotation. Unitlab Annotate is a collaborative and AI-powered data annotation platform, offering on-premises solutions and integrated labeling services.

Quest Ventures is a top venture capital firm in Asia. For entrepreneurs: venture capital. For enterprises: applied innovation. For ecosystems: accelerate.

Investment focus

E-Commerce, Software, Information Technology
Seed, Pre-Seed, Series A
Singapore, Malaysia, Kazakhstan

Portfolio highlights

ZumVet — ZumVet provides access to affordable and convenient veterinary care through video calls and medication delivery. They are passionate about animals and want them to get the best possible care by offering video consults, referrals, home visits, and emergency services. It was incorporated in 2019 and is based in Singapore.
Ion Mobility — Ion Mobility is a tech-driven all-electric mobility company tackling a challenging and complex space.
Smoothly — Mobile app helping working millennials sleep better, wake up refreshed and increase energy with science-backed breathing exercises

We-Fi is collaborative partnership among government.

Investment focus

Banking
Debt Financing
Uzbekistan

Portfolio highlights

Ipoteka Bank — Ipoteka 94% state-owned bank, is fully involved in policy reforms and state development programs in Uzbekistan.
First City Monument Bank — First City Monument Bank (FCMB) Ltd is a full service banking group, headquartered in Lagos, Nigeria with the vision to be the Premier Financial Services Group of African origin.

Investments in the Future of Money

Investment focus

E-Commerce, Financial Services
Seed
Uzbekistan

Portfolio highlights

IMAN — One-stop shop for Halal investing

Le Mercier’s Capital is a single family office which invests both strategically and opportunistically in growth capital situations.

Investment focus

E-Commerce, Financial Services
Seed
Uzbekistan

Portfolio highlights

IMAN — One-stop shop for Halal investing

Battery Road Digital Holdings is a venture capital and private equity firm that focuses on frontier and emerging markets.

Investment focus

E-Commerce, Transportation, Payments
Seed, Series A, Funding Round
Singapore, Egypt, India

Portfolio highlights

zypl.ai — We help financial institutions, government entities make more accurate decisions
AwanTunai — AwanTunai seek to reinforce Indonesian needs and productivity by providing digital loan for a better financial freedom and capability to micro-entrepreneurs
IMAN — One-stop shop for Halal investing

Block0 is a Belgian IT company specialized in blockchain and decentralized technologies.

Investment focus

Financial Services, Finance, Internet
Seed, Series A
India, Singapore, Uzbekistan

Portfolio highlights

IMAN — One-stop shop for Halal investing
Bastion — Bastion is a lending, borrowing and exchange protocol built on Aurora, the Ethereum-compatible layer of the Near blockchain.
Infinity Exchange — Infinity is an Institutional Money Markets protocol with the most efficient market-making mechanism across DeFi.

TaiwanICDF is dedicated to boosting socio-economic development, enhancing human resources, and promoting economic relations in a range of developing partner countries. We also offer humanitarian assistance and provide aid in the event of natural disasters or international refugee crises.

Investment focus

Debt Financing
Uzbekistan

Portfolio highlights

Gojo & Company — We are enabling financial inclusion for everyone by partnering with financial service providers.
Milk Euro Food — Milk Euro Food is the producer and distributor of butter, spreads, and margarine in Central Asia.

Finnfund is a Finnish development finance company that provides long-term risk capital for private projects in developing countries. Apart from co-investing with Finnish companies they can finance ventures that use Finnish technology, cooperate with Finnish partners on a long-term basis or generate major environmental or social benefits.

Investment focus

Financial Services, FinTech, Energy
Debt Financing, Funding Round, Series B
Kenya, India, South Africa

Portfolio highlights

AwanTunai — AwanTunai seek to reinforce Indonesian needs and productivity by providing digital loan for a better financial freedom and capability to micro-entrepreneurs
Access Bank — Access Bank provides banking products and services to individual and business customers in Ghana. It offers standard savings and current, access advantage, solo, and premier accounts. The company also provides online banking services that include ATM, online access, and point-of-sale terminal services; and bills payment and Western Union moneytransfer services.
Beacon Power Services — Beacon Power Services is a utility company that provides energy management software and analytics for utilities.

Tesla Capital is an early stage venture capital firm.

Investment focus

E-Commerce, Financial Services
Seed
Uzbekistan

Portfolio highlights

IMAN — One-stop shop for Halal investing

Capital + Hiring + Infrastructure

Investment focus

Financial Services, FinTech, Artificial Intelligence
Series A, Seed, Pre-Seed
United States, India, Russian Federation

Portfolio highlights

Dubformer — All-in-one tool: Go global effortlessly with monetization-ready dubbing that sounds like real humans. Cost-effective AI localization.
Superfone — Superfone is an All-in-One business phone and CRM app for SMBs. Calls, Whatsapp, Marketing, CRM everything in one powerful app made for your entire team. Track team activity, sales and get controls.
Easy Home Finance — Easy Home Finance is a mortgage-tech startup.

Investors by industry