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

Uzbekistan is proud to welcome the DOMiNO Uzbekistan Fund — the country’s first international private venture capital fund with a target size of $20 million. The official opening of the office of the Netherlands-based global venture capital firm was celebrated as a landmark conclusion of the Startup & Venture Summit by IT Park Uzbekistan at ICT WEEK 2025.

This marks the opening of the first European VC office in Central Asia, bringing foreign venture capital directly into Uzbekistan. The move highlights growing global investor interest in the country’s fast-evolving startup ecosystem and positions Uzbekistan as a rising innovation hub in the region.

The fund will back early and growth-stage startups in Artificial Intelligence, Deeptech, and Cleantech, helping local founders expand into global markets while strengthening Central Asia’s innovation landscape.

“In Central Asia, DOMiNO has already become a trusted partner by building strong cultural and professional bonds, and the DOMiNO Uzbekistan Fund will support accelerating the country’s ambition of becoming a regional innovation hub. The fund will not only invest capital but also enable technology transfer, export revenues, and access to global markets for Central Asian startups,” - says Mustafa Kopuk, Managing Partner at DOMiNO Ventures.

Yagiz Karadeniz, Managing Partner at DOMiNO Ventures, added: 

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

This historic milestone for Uzbekistan’s startup and venture ecosystem was supported by IT Park Uzbekistan, the country’s leading government-backed technology hub, serving as a bridge between local talent and international innovation ecosystems. 

Abdulakhad Kuchkarov, CEO of IT Park Uzbekistan, said:

"Uzbekistan welcomes a new milestone: an international private VC fund connecting local startups to global capital. This launch is a powerful signal that our startup ecosystem is ready for the next stage of growth. By partnering with DOMiNO Ventures, we are not only unlocking access to global investors and expertise, but also creating a pathway for local founders to scale internationally. This fund will help position Uzbekistan and the broader Central Asian region as an emerging hub for innovation, technology transfer, and venture investment."

DOMiNO Uzbekistan has been established with the support of UzVC, Uzbekistan’s first fund of funds under the Ministry of Economy and Finance, which has become the anchor investor with a $10 million commitment.

"This partnership marks a historic milestone for Uzbekistan’s innovation journey. By anchoring the DOMiNO Uzbekistan Fund, we are not only supporting local founders but also creating a bridge for international capital and expertise to flow into our ecosystem.” - commented Dilshod Khashimov, CEO of UzVC. “By increasing the flow of private venture capital and smart money to the Uzbekistan startup ecosystem, we can increase the number of high quality startups that can expand beyond our country's borders and compete regionally and globally. Together, we aim to position Uzbekistan as a leading innovation hub in Central Asia."

Continuing its ecosystem builder model, DOMiNO Ventures will run acceleration programs, attract global mentors and VCs, and reinforce Uzbekistan’s role as an emerging hub for technology transfer, venture investment, and international scale-ups.