IT Park Uzbekistan Expands Venture Partnership With China

Tashkent, Uzbekistan (UzDaily.uz) — IT Park Uzbekistan, IT Park Ventures, and the Hong Kong-based venture capital fund Roselake Ventures have signed a trilateral memorandum of understanding to develop cooperation in venture investments between Uzbekistan, China, and Central Asia.

The document was signed following a meeting between the Director General of IT Park Uzbekistan, Azamat Karamatov, and the General Partner of Roselake Ventures, Linxiu Zhang, during an official visit of the Uzbek delegation to Hong Kong.

The agreement establishes a mechanism for exchanging investment deals, developing joint investment opportunities, and supporting the entry of portfolio startups into the markets of both countries. Additionally, the parties intend to utilize their international partner networks to connect startups, investors, strategic partners, and other participants in the innovation ecosystems.

The signing of the memorandum builds upon discussions initiated during the TakeOFF Istanbul event. Under the cooperation framework, Roselake Ventures will assist Uzbek startups in entering international markets. In turn, IT Park Uzbekistan will provide comprehensive support to companies from the fund's portfolio entering the Uzbek market through its Soft Landing program. This program includes assistance with business localization, partner searches, and the development of business contacts.

Established in 2021 and based in Hong Kong, Roselake Ventures is an early-stage venture capital fund that invests in technology startups in emerging markets. The fund specializes in projects in fields such as financial technologies, SaaS, e-commerce, logistics, healthcare, and climate technologies, while actively promoting international cooperation between startup ecosystems.

According to IT Park Uzbekistan, the agreement is aimed at strengthening interaction between the innovation ecosystems of Uzbekistan and China, expanding opportunities for startups and investors, and promoting international technological entrepreneurship.