Uzbekistan has topped the rating of Central Asian and Transcaucasian countries for attracting venture capital investments in 2024. According to the study Dsight Venture Eurasia, the total volume of investments in the country was $ 131 millionThis is significantly higher than other countries in the region.
Dynamics of venture capital investments in the region
Overall, venture capital investor activity in Central Asia and Transcaucasia continues to decline after a sharp increase in 2022. In 2024, companies attracted $ 174 million, what's on 29% lessthan a year earlier. However, the average investment size per trade increased by 58%, which is explained by a decrease in the total number of completed transactions.
The largest volume of investments was attracted in Uzbekistan due to the activity of Uzum marketplace, which received 65.5% of all venture capital investments in the region. Uzum provided 87% of all venture capital investments in Uzbekistanaimed at large-scale business expansion.
Comparison with other countries
The second place in the rating is occupied by Kazakhstan, where the volume of venture capital investments was $ 24 million. The third position was taken by Armenia with an indicator $ 17 million.
The largest funding among individual projects after Uzum was received Kazakhstan online loan service Solva ($ 14 million). Following is Armenian startup Podcastleattracted by $ 13.5 million.
Forecast for 2025
Analysts Dsight It is noted that the region's venture capital market may start growing again in 2025. The main drivers of this growth will be Uzum's plans for a new round of investments and further development of the venture ecosystem in the countries of the region.
