New VC Fund Launched to Scale Central Asian AI Startups
The $2 million fund targets Series A and later-stage ventures ready to expand outside their home markets.
Updated on Sept. 21, 2026 in Startups
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Qazaqstan Investment Corporation, IT Park Ventures, Mirae Asset Venture Investment, and SparkLabs Group have established the SparkLabs Mirae Silk Road Fund I LP. The fund focuses on AI-native startups across Central Asia that are preparing to scale internationally.
Why it matters
The fund creates a dedicated bridge for Central Asian AI startups seeking growth capital to compete beyond regional borders. It provides a structured path for companies to transition from domestic operations to larger global markets with support from institutional investors.
The new fund launched with $2 million in initial capital, with a potential scale-up to $10 million. It sits within a broader ecosystem, as the Qazaqstan Investment Corporation currently manages $2.8 billion across 19 separate investment funds.
The players
SparkLabs Group
A global accelerator and venture capital firm that provides seed and early-stage funding to technology startups.
Mirae Asset Venture Investment
A South Korean investment firm that manages venture capital portfolios as part of the Mirae Asset Financial Group.
Qazaqstan Investment Corporation
A state-backed private equity fund manager that acts as an anchor investor to promote the development of the private equity market in Kazakhstan.
IT Park Ventures
A venture arm focused on supporting the growth and international expansion of tech companies within the Uzbekistan ecosystem.
The details
Managed by Mirae Asset Venture Investment and SparkLabs, the fund acts as a formal vehicle to identify mature startups ready for Series A or later-stage funding. By involving anchor investors like Qazaqstan Investment Corporation and IT Park Ventures, the model facilitates cross-border investment flows between South Korea and the Central Asian region. Operations are expected to be supported by a planned SparkLabs office in Tashkent.
Timeline
The agreement was signed in Seoul during a Central Asia-South Korea summit in September 2026.
The fund launched in September 2026.
Market Landscape
The fund serves as an operational extension of the recent $18.95 billion in commercial agreements established between Korea and Kazakhstan. It follows a regional trend of institutionalizing cross-border capital paths for AI startups attempting to bypass domestic market saturation.
Operators of later-stage AI firms in Central Asia should monitor the fund's investment criteria to align their scaling strategy with available Series A capital. Owners should verify whether their current internal governance meets the institutional requirements typical of anchor-led venture funds.
The takeaway
The arrival of this fund signals that institutional investors are increasingly prioritizing Central Asian AI firms with clear paths to global scale. Management teams should prioritize the development of clear exportable business models to remain competitive for this specific pool of capital.
Further reading
For broader trends in venture funding, see our Startups section.
Source note: This article includes information reported by Crypto.
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