Uzbekistan launches Imkon Ventures venture fund with $5 million capital

Imkon Ventures, an early-stage venture fund focused on investing in startups at the Pre-seed and Seed stages, has been officially launched in Uzbekistan. The fund's capital is $5 million.

Imkon Ventures was co — founded by venture investor Tohir Mirzajanov (Qatar) and Muhammad Khalil, founder of Startup Garage and managing partner of the fund. The main focus will be on investments in projects in the areas of FinTech, artificial intelligence, B2B SaaS and DeepTech, with an eye on teams with the potential for international scaling.

The Fund aims to develop the technological ecosystem of Uzbekistan and integrate the region's teams into the global venture space, especially in the direction of Central Asia and MENA. Over the next two years, Imkon Ventures plans to fund 25 to 30 startups, providing from $50,000 to $150,000 per project. For the most successful teams, participation in subsequent rounds is provided.

The anchor investor was UzVC, the state Fund of Funds of Uzbekistan, which confirms the high strategic importance of the initiative and strengthens the trust of international partners. The launch of Imkon Ventures was officially announced on the sidelines of the Asian Development Bank's conference on supporting small and medium-sized businesses, sparking interest among representatives of the global venture community.

According to forecasts, the fund's activities will create over 1,000 jobs for highly qualified specialists by 2030, and will also have a significant impact on the development of digital infrastructure and innovative entrepreneurship in the country.

In the future, Imkon Ventures intends to promote the emergence of the first technological "unicorns" in Uzbekistan and strengthen the country's status as one of the centers of innovative economy in the region.