Golden Gate Ventures’ MENA-focused fund said on June 18 it launched an office in Uzbekistan.

The office will support Central Asian tech companies and help existing Middle East and North Africa portfolio companies expand into Uzbekistan and the wider region. The move was announced at the Tashkent International Investment Forum.

The expansion adds a Central Asia outpost to Golden Gate Ventures MENA Fund I. The fund reached a US$20 million first close toward a US$100 million target in 2024.

Its local partner, Uzbek-Oman Investment Company, a Tashkent-based private equity fund backed by Uzbekistan and Oman, is participating as an institutional limited partner.

The fund invests across sectors including logistic, financial services, and education.

Golden Gate also signed a memorandum of understanding with IT Park and IT Park Ventures, an investment fund under IT Park Uzbekistan and the Ministry of Digital Technologies that invests from idea stage through scaling and supports acceleration and co-investment.

The move comes as Uzbekistan offers IT Park residency for venture funds opening local offices. Member companies can also access tax incentives.

Officials said there was US$43.5 million in local venture capital and more than 500 startups.

🔗 Source: Golden Gate Ventures

Recent Golden Gate Ventures developments