Where can founders looking for investment for their startups turn to? Which funds, investors, or programs are available?
The list includes angel investors, venture capital funds, grant programs, accelerators and incubators, as well as several funds operating in Central Asia.
Angel Investors and Investor Clubs
CS// Angels
Nexus Angel Club
Bahrom Abdukadirov
Uzbekistan Venture Capital Funds
Aloqa Ventures
UzVC
IT Park Ventures
United Ventures
SQB Ventures
Hayot Ventures
UC Ventures
Semurg VC
AIS Ventures
Silkbridge Ventures
Sarmo Ventures
Paynet Ventures
X-Togo Capital
Yoshlar Ventures
Imkon Ventures
Sturgeon Capital
Domino Ventures
Big Sky Capital
In 2026, IT Park Ventures increased its fund capital from $10 million to $30 million and strengthened its focus on technology startups at the Seed and Series A stages. The fund may consider investments of up to $3 million in certain projects.
Yoshlar Ventures offers financing opportunities ranging from projects whose products are not yet ready to startups entering global markets. According to the fund’s website, investment amounts range from UZS 500 million to UZS 5 billion depending on the startup’s stage.
Grant Programs
President Tech Award
World Bank MUNIS
Accelerators and Incubators
Startup Garage
Plug and Play Uzbekistan
Google for Startups Silkway
Alchemist SVR
UzCombinator
IRA Tashkent
Techstars Uzbekistan
RS Bootcamp
Red Team Accelerator
Justart Venture Studio
Kazakhstan Venture Capital Funds
Most Ventures
BYB Capital
MA7 Ventures
Big Sky Capital
Activat VC
Astana Hub Ventures
White Hill Capital
BGlobal Ventures
Axiom Capital
MyVentures
Azerbaijan
Sabah Fund
Caucasus Ventures
How Does the Investment Process Work?
Finding a list of investors is only the first step.
An investor typically does not simply give a startup money. They evaluate the project, market, team, financial performance, and growth potential.
The process usually looks like this:
1. Finding and approaching an investor
The founder selects an investor or fund based on the startup’s stage, sector, and funding needs, and provides a pitch deck, financial model, and other key information.
2. Pitch and negotiations
The investor evaluates the startup’s product, market, team, traction, and growth strategy. If the project generates interest, the investment terms are discussed.
3. Valuation and equity
The parties agree on how much the investor will invest and what percentage of the company they will receive in exchange.
For example, if a company is valued at $1 million and an investor invests $200,000, the investor may receive a certain equity stake in the company depending on the agreed structure.
Therefore, founders should consider not only the amount of investment they are raising, but also how much of the company they are giving up in exchange for the capital.
4. Due diligence
At this stage, the investor verifies the information provided by the startup.
Financial statements, legal documents, previous investments, intellectual property, customers, revenue, and other important information may be reviewed.
5. Term sheet
Once the parties agree on the key terms, a term sheet is prepared. It outlines the investment amount, valuation, investor’s equity stake, and other important conditions.
6. Signing documents and closing the investment
After the final documents are agreed upon and signed, the deal is closed and the investment funds are transferred to the company.
Therefore, “finding an investor” is not simply about finding the contact details of the right fund. A founder must first prepare the startup for investment, identify the right investor, negotiate effectively, and understand the terms of raising capital in exchange for equity in the company.
The list will be updated over time. New funds, investors, and programs will be added in future updates as they emerge.
@pivotuzbekistan
