Tashkent, Uzbekistan (UzDaily.com) — Seven state-owned banks in Uzbekistan have jointly established the investment fund United Ventures, according to data from the Unified Corporate Information Portal.

As per the State Register of Legal Entities (EGRPO), United Ventures LLC was officially registered on 27 January 2025. The company’s charter capital amounts to 525 billion soums (US$40.51 million at the Central Bank’s exchange rate), with Azizbek Kurbonov appointed as the CEO.

The fund’s founders include Asaka Bank, Microcreditbank, NBU, People’s Bank, Business Development Bank, Turonbank, and Agrobank, each holding a 14.28% stake.

On his LinkedIn page, Azizbek Kurbonov confirmed his appointment as the CEO of United Ventures, describing it as a venture capital fund created by seven leading banks in Uzbekistan.

According to Kurbonov, the fund’s mission is to invest in promising local startups and foster an entrepreneurial ecosystem through strategic financing, incubation, and acceleration programs.

He also announced his departure from Sug’urta Bozor, where he previously served as co-head, to focus on his new role at United Ventures. In the coming weeks, he plans to unveil a detailed operational strategy and has invited incubation and acceleration program organizers to collaborate.