During the official visit of Kazakhstan’s President Kassym-Jomart Tokayev to Uzbekistan (April 11, Bukhara), IT Park Ventures and White Hill Capital signed an agreement to establish a joint investment fund of up to $2 million.
Why this matters
The fund represents not just a new investment instrument, but a significant step toward the institutional development of Central Eurasia’s venture infrastructure. It aims to:
- Provide institutional capital to startups in Uzbekistan and Kazakhstan
- Expand cross-border collaboration and co-investment opportunities
- Bring international expertise, standards, and strategic connections to the region
- Create an entry point for regional diaspora founders and select international founders
Target focus
- Early-stage startups in Central Eurasia
- Regional diaspora founders operating at a global scale
- International founders capable of creating strategic value through technology transfer and market access
Leadership perspectives
Dalerkhon Nodirov, Director of IT Park Ventures:
“This is not just about capital—it’s about expanding deal flow, strengthening cross-border investment collaboration, and creating new opportunities.”
Aslan Sultanov, Managing Partner of White Hill Capital:
“Uzbekistan and Kazakhstan form the foundation of the regional ecosystem. This fund is a practical step toward building the necessary investment infrastructure.”
About White Hill Capital
A Kazakhstan-based VC firm investing in early-stage startups across fintech, AI, and digital solutions. It manages Tumar Venture Fund LP, established with support from the World Bank and Kazakhstan’s Ministry of Digital Development. Through the Tumar Innovation Hub accelerator, the firm helps startups expand into international markets including Saudi Arabia and the UAE.
