SparkLabs and Mirae Asset Launch Venture Capital Fund for Central Asian Startups

SparkLabs and Mirae Asset have signed a term sheet to establish a new venture capital fund, SparkLabs Mirae Silk Road Fund I LP. The fund aims to support technology companies in Central Asia.

The fund will focus on early-stage investments, with the goal of fostering the region's startup ecosystem. Qazaqstan Investment Corporation and Uzbekistan's IT Park Ventures are also involved in the initiative.

Investments will be directed towards companies operating in promising technology sectors. The objective is to provide capital and expert support to businesses with growth potential.

The establishment of the fund marks a significant step for the venture capital market in the region and could attract further international investment into Central Asia.