Uzbekistan Seeks $100M in Global Capital to Power Startup Growth

Uzbekistan has initiated discussions with Dutch investment firm DOMiNO Ventures to expand its fast-growing startup ecosystem in a major push to accelerate innovation and attract global venture capital.

The meeting, held in Tashkent, brought together senior Uzbek economic officials and representatives of DOMiNO Ventures to explore potential investments totaling $100 million, The Caspian Post reports, citing Uzbek media.

Leading the talks were Timur Khusanov, Director of the Department for Analysis, Support, and Coordination of State Policy on Small and Medium Business Development at the Ministry of Economy and Finance, and Dilshod Khashimov, CEO of the UzVC National Venture Fund. They met with Mustafa Köpük and Yağız Karadeniz, Managing Partners of DOMiNO Ventures.

The key topics of discussion included establishing joint venture programs, boosting foreign investment in local startups, and launching accelerator initiatives focused on advanced technologies, particularly artificial intelligence (AI).

DOMiNO Ventures, founded in the Netherlands and operating in Uzbekistan, Kazakhstan, Georgia, Azerbaijan, Türkiye, and several European countries, has become one of the most active players in the regional venture capital market. Over the past five years, the number of startups across these regions has surged by 4.5 times to more than 4,500, while venture deal volume reached $120 million in 2024.

During the meeting, DOMiNO Ventures presented its flagship BetterFuture AI Acceleration Program, which aims to nurture AI-focused startups through mentorship, funding, and international exposure.

Uzbekistan’s own innovation success stories were also highlighted, showcasing startups already supported by DOMiNO Ventures:

Tass Vision - an AI-driven video analytics platform,

PointAi - a digital commerce solution,

Datatruck - a logistics platform optimizing freight transport operations.

DOMiNO Ventures reaffirmed its commitment to invest $50 million in Central Asia over the next five years, with plans to fund over 20 startups across the region, aiming for a combined investment of up to $100 million.

Following the meeting, DOMiNO Ventures and UzVC reached a preliminary agreement to co-develop venture support programs and promote mutual knowledge exchange between Uzbek and international tech communities.