Tashkent, Uzbekistan (UzDaily.com) -- The UzVC National Venture Fund is being created in Uzbekistan.

The government of Uzbekistan issued a resolution on organizing the activities of the UzVC National Venture Fund.

According to the resolution, the initial authorized capital of the venture fund will be 15 billion soums.

The authorized capital will be formed at the expense of the state budget allocated to the Ministry of Innovative Development.

The State Assets Management Agency will receive a 100% stake in the UzVC venture fund. At the same time, it is planned that a private company, selected by the results of the tender, will manage the venture fund.