Asakabank Launches $10M Venture Firm in Uzbekistan
AsakabankDealroom has a profile for this one. Try Dealroom → has established a new venture firm with $10 million in charter capital to finance startups and support the commercialization of innovative developments in Uzbekistan. The initiative is aimed particularly at projects in pharmaceuticals and biotechnology, with the broader goal of fostering scientific progress and entrepreneurial activity in the country.
The venture firm will invest directly in early-stage companies and is also structured to co-invest by matching capital raised from other investors, providing startups with stronger financial leverage to scale their solutions. In addition to its initial resources, the firm may receive up to 20 billion UZS in grants from the national Innovation Fund, further expanding its capacity to back high-potential projects.
This launch reflects Uzbekistan’s broader strategy to stimulate innovation in priority fields such as biotechnology, cell technologies, oncology, and pharmaceuticals. By creating a dedicated venture platform with substantial financial backing, Asakabank is positioning itself as a key supporter of the country’s emerging startup ecosystem. The new firm is expected to play an important role in bridging the gap between scientific research and market-ready products, while also helping to attract private capital into critical sectors of the economy.
Source: Pivot.uz
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