SparkLabs and Mirae Asset Plan to Establish Central Asia Venture Capital Fund

SparkLabs Group, Mirae Asset Venture Investment, the Qazaqstan Investment Corporation (QIC) from the Kazakhstan National Fund of Funds, and Uzbekistan IT Park Ventures have signed a term sheet to establish the SparkLabs Mirae Silk Road Fund I LP, a venture capital fund managed by Mirae Asset Venture Investment and SparkLabs Group. The signing ceremony took place in Seoul during the state visit of the Presidents of Kazakhstan and Uzbekistan to South Korea and the first Central Asia-Korea Summit. QIC and IT Park Ventures will serve as anchor investors. The new fund will invest in Series A and later-stage startups in the Central Asia region with validated business models that are ready to expand beyond the region, focusing on AI-native companies, although not limited to any specific industry. Portfolio companies will receive support from the global networks of SparkLabs and Mirae Asset, as well as assistance in expanding to South Korea, the United States, and the Middle East.

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