Private venture capital funds started investing in startups in Uzbekistan with the support of UzVC

DOMiNO Ventures, Imkon Ventures and Sarmo Ventures have started active investments in Uzbek technology startups. All three funds are backed by UzVC, which operates on a fund of funds model from 2024. The goal: to multiply public investment by attracting private capital and expertise.

DOMiNO Ventures is a European fund with up to $20 million. Focus AI, deeptech, fintech, agtech, edtech, cybersecurity, govtech and green tech. The average check is $250-500k. The BetterFuture accelerator program is being launched.

Imkon Ventures is a local fund with up to $5 million. Focuses on fintech, AI, B2B SaaS and deeptech. It plans to fund 25-30 startups over two years and create over 1,000 jobs by 2030.

Imkon's portfolio already includes Karmon AI fintech app with HUMO and Uzcard support. The app has 2500+ users, over 50k+ transactions per month and $1000+ in recurring revenue. The startup is present in 177 countries, received a $15k grant from BRB Hackelerator and was selected for Plug and Play. The second project is ALLSEO.ai, an AI-powered SEO and digital marketing automation platform.

Sarmo Ventures is an $8 million pre-seed fund. EdTech and AI focus. Average check is up to $50,000. The fund gives startups access to AI developers, sales strategies, and cloud resources from Google Cloud (up to $100k) and AWS (up to $10k).

Sarmo's projects include PraaktisGo, an AI platform for fitness centers with facial recognition, TopCoach, an overseas college prep program, and Kotib Legal, a legal contract management system using artificial intelligence.

UzVC continues to develop its venture capital market infrastructure and attract new private funds.