Photo: sparkfun.com
Seven state-owned banks in Uzbekistan have launched a joint investment fund named United Ventures, according to Spot.uz, citing data from the Unified Corporate Information Portal.
The fund’s founding banks include:
🏦 Asakabank
🏦 Microcreditbank
🏦 National Bank of Uzbekistan (NBU)
🏦 People’s Bank
🏦 Business Development Bank
🏦 Turonbank
🏦 Agrobank
Each bank holds an equal stake of 14.28% in the fund.
United Ventures was officially registered on January 27, 2025, with an initial capital of 525 billion Uzbek soums ($40.51 million).
According to Azizbek Kurbonov, CEO of United Ventures, the fund aims to invest in promising local startups and foster a thriving startup ecosystem through strategic financing, incubation, and acceleration programs.
ℹ️ Uzbekistan’s first venture fund was established in 2019 under the IT Park initiative to provide financial backing for promising startups. Its target capital was $10 million.
