Investors from the United States plan to create a venture fund in Kazakhstan

Venture investors Asher Siddiqui and Marvin Liao plan to create a venture fund for Central Asia and the Caucasus. It will be based in Kazakhstan.

The future fund will help connect local markets with the world of "big venture" and expand opportunities for attracting investments.

Liao and Siddiqui are beginning negotiations with investors from Kazakhstan, Uzbekistan, Azerbaijan, and Tajikistan. A total of $15,000,000 is planned to be raised from as wide a range of investors as possible.

The process is expected to take several months. The fund is scheduled to start operations in approximately six months — around May 2024.

Marvin Liao has 21 years of venture investment experience and has worked with more than 400 startups. He is the co-founder and partner of the 500 Startups accelerator.

Asher Siddiqui is the general partner of the venture fund Sukna Ventures and the founder of Asilica Global. He is also a member of the partnership and investment committee at 500 Startups.

Source: spot.uz