IT Park Ventures and White Hill Capital Launch Joint Venture Fund in Uzbekistan

At the invitation of Uzbekistan's President, Shavkat Mirziyoyev, Kazakhstan's President, Kassym-Jomart Tokayev, conducted a working visit to Uzbekistan on April 11, 2026.

During his visit to Bukhara, IT Park Ventures and White Hill Capital formalized an agreement to create a joint investment fund in Uzbekistan, targeting a fund size of up to $2 million.

IT Park Ventures is a venture fund that operates within IT Park Uzbekistan, collaborating with startups in Uzbekistan, Central Eurasia, and including founders from the diaspora. The fund's portfolio encompasses approximately 70 projects.

White Hill Capital is a venture capital firm based in Kazakhstan that invests in technology startups throughout Central Asia and the MENA region, concentrating on early-stage investments and scaling startups.

The newly established fund aims to enhance venture collaboration among Uzbekistan, Kazakhstan, and the wider Central Eurasian region. Its objective is to support technology startups, draw in investments, and cultivate international partnerships.

The fund will focus on investing in startups from Central Eurasia, as well as in initiatives led by diaspora and internationally based founders that offer significant technological and strategic advantages to the region. Specific emphasis will be placed on sectors such as AI, fintech, and digital solutions.

Dalerkhon Nodirov, Director of IT Park Ventures, remarked that the collaboration with White Hill Capital will bolster the international connectivity of the ecosystem and generate additional opportunities for startups. He stated that the fund will aid in the enhancement of investment cooperation, increase the volume of deals, and assist startups in penetrating global markets.

Aslan Sultanov, Managing Partner of White Hill Capital, underscored that the establishment of the fund represents a significant step toward developing a sustainable investment infrastructure in the region. He pointed out the potential of Uzbekistan and Kazakhstan as the nucleus of Central Asia’s venture ecosystem and expressed a commitment to supporting robust tech teams.

The fund is anticipated to attract long-term capital, boost foreign direct investment inflows, and elevate the overall quality of startup initiatives. Additionally, it will broaden founders’ access to funding, expertise, and international markets.