SparkLabs Group, Mirae Asset Venture Investment, Kazakhstan’s fund-of-funds Qazaqstan Investment Corporation (QIC), and Uzbekistan’s IT Park Ventures have signed a term sheet to establish SparkLabs Mirae Silk Road Fund I LP, a venture capital fund to be managed by Mirae Asset Venture Investment and SparkLabs Group. The signing ceremony took place in Seoul during the state visits to South Korea by the presidents of Kazakhstan and Uzbekistan, and during the first Central Asia–Korea summit. QIC and IT Park Ventures will serve as anchor investors in the proposed fund. According to the announcement, the fund will target Series A and later-stage startups in Central Asia that already have validated business models and are preparing to expand beyond the region. The mandate is sector-agnostic, though it will focus on AI-native companies with artificial intelligence at the core of their business. Portfolio companies are also expected to receive support from the global networks of SparkLabs and Mirae Asset, along with help expanding into South Korea, the United States, and the Middle East.
According to ChainCatcher, SparkLabs Group, Mirae Asset Venture Investment, Kazakhstan’s fund-of-funds Qazaqstan Investment Corporation (QIC), and Uzbekistan’s IT Park Ventures have signed a term sheet to establish SparkLabs Mirae Silk Road Fund I LP.
The proposed venture capital fund will be managed by Mirae Asset Venture Investment and SparkLabs Group, with QIC and IT Park Ventures participating as anchor investors.
The signing ceremony was held in Seoul during the state visits to South Korea by the presidents of Kazakhstan and Uzbekistan, and during the first Central Asia–Korea summit.
The new fund will invest in Series A and later-stage startups in Central Asia that have already validated their business models and are preparing to expand outside the region. It is not limited to any single sector, but will focus on AI-native companies built around artificial intelligence.
Portfolio companies will also receive support through the global networks of SparkLabs and Mirae Asset, as well as assistance with expansion into South Korea, the United States, and the Middle East.
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