Tashkent, Uzbekistan (UzDaily.com) —  The IT Park Ventures Fund officially launched in Uzbekistan on 7 December.

Azamat Karamatov, head of the venture division at IT Park, who took office in November, provided detailed information about the fund’s goals and operational conditions.

According to him, the mission of IT Park Ventures is to provide startups with capital, expertise, and resources for a successful entry into global markets.

The fund’s charter capital is set at US$10 million. Of this amount, 75-85% will be directed towards direct investments, while the remaining funds will support the Local2Global program, aimed at promoting startups in foreign markets.

The average investment in a single project will be US$150,000, with amounts varying depending on the stage of the startup’s development:

Idea stage — from US$10,000 to US$30,000;

Minimum viable product (MVP) — from US$50,000 to US$150,000;

Seed or growth stage — from US$150,000 to US$300,000;

Series A round — from US$500,000 to US$1 million.

IT Park Ventures will focus primarily on projects in artificial intelligence and machine learning, with 50-60% of investments allocated to these areas. Other priority sectors will include green technologies (GreenTech), educational technologies, fintech, and game development.

The fund plans to actively invest in the first three years and gradually expand its project portfolio over the next 4-8 years, preparing for an exit strategy implementation.