At the invitation of the President of Uzbekistan, Shavkat Mirziyoyev, the President of Kazakhstan, Kassym-Jomart Tokayev, paid a working visit to the country on April 11, 2026.
During the visit in Bukhara, IT Park Ventures and White Hill Capital signed an agreement to establish a joint investment fund in Uzbekistan with a target fund size of up to $2 million.
IT Park Ventures is a venture fund operating within IT Park Uzbekistan, working with startups in Uzbekistan, Central Eurasia, and including diaspora founders. The fund’s portfolio includes around 70 projects.
White Hill Capital is a Kazakhstan-based venture capital firm investing in technology startups across Central Asia and the MENA region, with a focus on early-stage investments and startup scaling.
The new fund will serve as a platform to strengthen venture cooperation between Uzbekistan, Kazakhstan, and the broader Central Eurasian region. Its goal is to support technology startups, attract investment, and foster international partnerships.
The fund will invest in startups from Central Eurasia, as well as in projects led by diaspora and internationally based founders that bring strong technological and strategic value to the region. Particular focus will be placed on areas such as AI, fintech, and digital solutions.
Director of IT Park Ventures, Dalerkhon Nodirov, noted that the partnership with White Hill Capital will enhance the international connectivity of the ecosystem and create additional opportunities for startups. According to him, the fund will contribute to the growth of investment cooperation, increase the number of deals, and support startups in entering global markets.
Managing Partner of White Hill Capital, Aslan Sultanov, emphasized that the creation of the fund is a step toward building a sustainable investment infrastructure in the region. He highlighted the potential of Uzbekistan and Kazakhstan as the core of Central Asia’s venture ecosystem and expressed readiness to support strong tech teams.
The fund is expected to attract long-term capital, increase foreign direct investment inflows, and improve the overall quality of startup projects. It will also expand founders’ access to funding, expertise, and international markets.
