Uzbekistan venture, in numbers you can check
$6.3M invested in 2023, $329M in 2025 - and 89% of that money still comes from outside the country. That gap is the opportunity.
The market
Figures from the IT Park Venture Ecosystem Report 2025 unless marked otherwise
Tashkent is four hours ahead of Berlin: a full working morning overlaps.
Where the money comes from
89% of the capital is foreign, 89% of the deals are local
Foreign capital accounted for $293M across 16 deals - an average ticket of $18.34M. Local capital was $35M across 125 deals, averaging $285K. Domestic money covers the seed stage; anything larger arrives from outside. By investor type: venture funds $113.5M in 126 deals, business angels $13M in 9 deals.
IT Park Ventures
Focus: Idea to Series A, up to $1M, ~70 startups
DOMiNO Ventures
Focus: First international private fund in the country
AloqaVentures
Focus: First fund in harvest phase, target TVPI 3-5x
UZVC
Focus: Seed and pre-Series A, mobilising private capital
Yoshlar Ventures
Focus: Pre-accelerator across all 208 districts
International Participants: Purple Ventures became the first European venture fund to invest in an Uzbek startup - TASS Vision, AI computer vision, now operating in nine countries. Their partner describes due diligence as more complex than in Europe, and the deal as completed without difficulty.
The Berlin office can introduce you to the funds above and to their portfolios directly.
Where the capital sits
By number of deals, 2025
Almost everything is early stage
92% of deals are seed or earlier - 61% of them pre-seed. Series A is where the queue is shortest - and where the local funds explicitly say they cannot follow their own portfolios.
Sectors
Share of startups, IT Park report 2025
AI
The largest single direction
E-Commerce
Retail and marketplaces
SaaS
Business software
ERP & CRM
Enterprise systems
FinTech
Payments and digital banking
SocialTech
Social and civic platforms
Logistics
Supply chain and delivery
What the Berlin office does
Concretely, and only what it actually does
Introductions to funds
Direct contact with IT Park Ventures, AloqaVentures, UZVC, DOMiNO and their portfolios.
A German counterparty
Contracts run through IT-PARK UZB GmbH, Berlin - German law, German invoice, German liability.
Context before you fly
What is worth seeing in Tashkent, who to meet and what to ask - so a first trip is not spent orienting.
Regulatory orientation
Residency, tax status, the sandbox regime and what each one requires in practice.
Delegations
Organised trips to Tashkent with meetings arranged in advance to your profile.
An honest no
If your thesis does not fit this market, we say so in the first reply.
Companies that raised
From the IT Park report; the Uzum valuation is more recent
One company above one billion, and a growing group behind it raising from American and European funds.
Uzum
E-commerce and fintech super-app, over 20 million users. Latest round $131.5M led by Omani sovereign funds, with Tencent participating (TechCrunch, March 2026).
DataTruck
US logistics software. Series A, $10M of $12M+ raised from American funds, headquartered in the US.
TASS Vision
AI computer vision for retail, deployed in nine countries. First Uzbek startup backed by a European venture fund.
BILLZ has joined the TBC Uzbekistan ecosystem; Datox closed a round led by the American Alchemist Accelerator in October 2025.
What the state puts in
Programmes run through IT Park - details at startupbase.uz
Up to $100K co-investment
The state matches private investment into a startup, doubling the round.
50% of accelerators covered
For participation in international incubators and accelerators.
Up to $50K for mentors
Paid to accelerators and incubators to bring in senior mentors.
$50M Digital Startups programme
Funding, mentoring, IP protection and market access in one programme.
0% taxes until 2040
For IT Park residents - corporate, social and property tax.
Regulatory sandbox and IT visa
A special regime for startups and VCs; fast-track visas for founders and investors.
Meet the market in person
Conferences in Germany and delegations to Tashkent
The Berlin office runs events through the year and organises trips to Tashkent. Dates, programmes and registration are on the events page - it is always current, which a list of promises here would not be.
Questions about this market?
Ask the person who works in it.
We do not manage a fund, place capital or advise on investments. What the Berlin office does is know this market, know the people in it, and make introductions where they make sense - in German, English or Russian.
IT-PARK UZB GmbH · Potsdamer Straße 92, 10785 Berlin · Amtsgericht Berlin-Charlottenburg, HRB 267205 B