IT Park Uzbekistan and 500 Global to Expand Venture Ties
Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan's Minister of Digital Technologies Sherzod Shermatov and IT Park Uzbekistan CEO Azamat Karamatov met with Pedro Santos Vieira, Managing Partner at global venture capital firm 500 Global, to discuss expanding cooperation in startup development and international market entry, IT Park Uzbekistan reported.
The parties discussed strengthening the country's startup ecosystem, increasing venture capital investments, and helping Uzbek technology companies expand into foreign markets. Negotiations focused on coordinating existing startup support initiatives, with 500 Global representatives expressing interest in further developing Uzbekistan's entrepreneurial environment.
International venture firm 500 Global manages approximately US$2.3 billion in assets, investing in high-growth technology startups and building entrepreneurial ecosystems through programs such as 500 Global in Eurasia. The firm has been investing in technology companies and startups in Uzbekistan since 2021–2022, backing projects created by both local entrepreneurs and foreign founders operating in the country.
To date, 500 Global has invested at least US$600,000 into several Uzbek startups, including TASS Vision, IMAN, Cerberus, Tezbor, Talklabs, and Unitlab AI.
Future cooperation may include launching tailored programs in Uzbekistan to prepare local startups for attracting international financing and establishing direct contacts with global investors. As part of its long-term Central Asian strategy, 500 Global plans to support startups across various growth stages, from early-phase development to international investment markets.
The meeting also addressed regulatory conditions for venture capital funds in Uzbekistan, focusing on streamlining investment capital movements and improving operational efficiency for international funds in the domestic market. Following the talks, both sides agreed to continue joint efforts to systematically develop Uzbekistan's startup ecosystem, foster favorable venture investment conditions, and promote local tech companies abroad.
