DOMiNO Ventures Launches $20M Fund in Uzbekistan — First International VC Office in Central Asia

Uzbekistan is excited to introduce the DOMiNO Uzbekistan Fund — the nation’s inaugural international private venture capital fund, with a target size of $20 million. The official inauguration of the office of the Netherlands-based global venture capital firm was celebrated as a significant milestone at the conclusion of the Startup & Venture Summit by IT Park Uzbekistan during ICT WEEK 2025.

This event signifies the launch of the first European VC office in Central Asia, facilitating direct foreign venture capital investment into Uzbekistan. This initiative underscores the increasing global investor interest in the country’s rapidly developing startup ecosystem and positions Uzbekistan as an emerging innovation hub within the region.

The fund will support early and growth-stage startups in sectors such as Artificial Intelligence, Deeptech, and Cleantech, assisting local entrepreneurs in expanding into international markets while enhancing Central Asia’s innovation landscape.

“In Central Asia, DOMiNO has already established itself as a reliable partner by fostering strong cultural and professional relationships, and the DOMiNO Uzbekistan Fund will aid in advancing the country’s goal of becoming a regional innovation hub. The fund will not only provide capital but will also facilitate technology transfer, generate export revenues, and grant access to global markets for Central Asian startups,” stated Mustafa Kopuk, Managing Partner at DOMiNO Ventures.

Yagiz Karadeniz, Managing Partner at DOMiNO Ventures, further remarked:

“We believe Central Asia is emerging as one of the new stars in global emerging markets. Through the DOMiNO Uzbekistan Fund, we aim to empower local founders, the true innovators of the next generation of Uzcorns that will firmly establish the region on the global innovation map."

This significant achievement for Uzbekistan’s startup and venture ecosystem was made possible with the support of IT Park Uzbekistan, the country’s premier government-backed technology hub, which acts as a conduit between local talent and international innovation ecosystems.

Abdulakhad Kuchkarov, CEO of IT Park Uzbekistan, commented:

"Uzbekistan celebrates a new milestone: an international private VC fund that connects local startups with global capital. This launch sends a strong message that our startup ecosystem is prepared for the next phase of growth. By collaborating with DOMiNO Ventures, we are not only gaining access to global investors and expertise but also creating opportunities for local founders to scale internationally. This fund will help position Uzbekistan and the wider Central Asian region as a burgeoning hub for innovation, technology transfer, and venture investment."

DOMiNO Uzbekistan has been launched with the backing of UzVC, the first fund of funds in Uzbekistan under the Ministry of Economy and Finance, which has taken on the role of anchor investor with a commitment of $10 million.

"This partnership signifies a pivotal moment in Uzbekistan’s innovation trajectory. By establishing the DOMiNO Uzbekistan Fund, we are not only backing local entrepreneurs but also facilitating the influx of international capital and expertise into our ecosystem,” stated Dilshod Khashimov, CEO of UzVC. “By enhancing the flow of private venture capital and strategic investments into the Uzbekistan startup ecosystem, we can boost the number of high-quality startups capable of expanding beyond our borders and competing on regional and global stages. Together, we aspire to position Uzbekistan as a premier innovation hub in Central Asia."

Continuing its model as an ecosystem builder, DOMiNO Ventures will implement acceleration programs, attract global mentors and venture capitalists, and strengthen Uzbekistan’s position as a burgeoning center for technology transfer, venture investment, and international scale-ups.