Startup AzerbaijanToday the first Azerbaijani venture fund – Caucasus Ventures has announced its plans to invest $6.6 million in 50 projects in the next five years.
The fund will mainly invest in local – Azerbaijani startups that have global growth potential and investments to regional start-up is also a possibility.
The tickets size of investments will be between USD50,000 – USD250,000 depending on the development stage of startup.
Some of the verticals that the fund will mainly focus are travel tech, SaaS solutions and fintech in mainly seed and growth stages while some follow-up investments to Series A stage will also be possible. Geographically, the fund focuses on the regions such as the Caucasus, East Europe, and Central Asia.
The total budget of the venture fund is 11.3 million manat ($6.6 million). Azerbaijan’s Innovation Agency and PASHA Holding allocated 5 million manat ($2.9 million) each into the fund while individual investors invested about 1.3 million manat ($760,000) to the fund’s budget.
More information will soon be available at https://caucasus.vc/
