Investors in Uzbekistan

The main tasks of the «UzVC» National Venture Capital Fund: Development of the venture capital investment market; Improving the regulatory framework of the venture ecosystem; Acting as an agent between the private sector and the government; Development of the business incubation and acceleration system; Improving financial literacy in venture financing; Along with the principle of venture funds, «UzVC» is engaged in financing startup projects with the condition of equity participation on the basis of a bilateral agreement.

About RB ASIA RB Partners Group established RB ASIA in Uzbekistan in 2017. The goal is to render investment advisory and corporate finance services for international companies that are interested in investing in Uzbekistan, as well as for local companies seeking investors, international partners and capital for business expansion.​​RB ASIA is a member of the Chamber of Commerce and Industry of Uzbekistan.​RB ASIA is an accredited consultant of EBRD (European Bank of Reconstruction and Development) and it is involved in World Bank consultancy projects in Uzbekistan.Investment FocusRB Partners Group specializes in managing venture capital investments at the “seed” and “early” stages of development of companies in Russia and in the CIS region. We cooperate with outstanding developers of innovative products that solve complex problems. We are actively involved in all our investments. The company is serious about choosing an investment target, but as soon as we invest, we aim to apply all of our industry contacts, practical business building experience, and an understanding of local and international business cultures to help our companies more effectively reach their business. plans, and to achieve significant competitive advantage.RB ASIA is engaged in attracting investments to Uzbekistan, in such sectors as:BANKING SECTORTEXTILE INDUSTRYINDUSTRIAL PRODUCTIONAGRICULTUREFOOD INDUSTRYINFORMATION TECHNOLOGIESCHEMICAL INDUSTRYINSURANCEPOWER ENGINEERINGTELECOMMUNICATION SERVICESHOTEL SECTORPHARMACEUTICS AND MEDICINEREAL ESTATERETAIL & WHOLESALE TRADE

SEMURG VC is a private equity firm that combines a venture capital fund aimed at the CIS market and Venture Builder, which creates and scales technology startups.Our team has been engaged in the creation of fintech and IT companies for many years. Thanks to the accumulated expertise, we help promising businesses that are in the early stages to grow much faster. VENTURE FUND Our main specialization is technological solutions in the field of financial services, retail and enterprise software.Supporting Founders Who Think Globally Together with portfolio companies we work to achieve their strategic and operational goals. We share our own tools and knowledge, as well as provide access to a wide partner network of experts in the field of technology, business development, interaction with the media, marketing, recruitment.Investment strategySTRATEGYWe value the startup team and invest in minority stakes to stimulate their motivation. In partnership with other venture capitalfunds, we are considering co-investment (matching) in startups.

IFG Capital SA is an independent investment firm focusing on Uzbekistan and wider Central Asia. It offers a full range of business and financial advisory services as well as metals & mining expertise through its subsidiary IFG Metals & Mining. It is led by a team of professionals who combine best western practice with intimate local knowledge, operating from its head office in Luxembourg with a Central Asian regional office in Tashkent.

Impact Fund Denmark is a private equity and venture capital firm specializing in financing in the form of equity, mezzanine, loans, debt and guarantees. It makes socially conscious investments. It makes directly & indirectly investments. Under directly investing, it invests in early stage & growth capital investments. Under indirectly investments, it invests in venture capital funds. It specializes in establishing new companies, setting up joint ventures between Danish companies and local business partners and in acquiring existing companies. It provides financing to private-sector projects in the developing countries. The firm can only invest in countries whose 2008 GNI capita income is below $0.03 million with an exemption granted to South Africa, Botswana, and Namibia. Also, the host countries of investments must be on the OECD’s DAC list of development aid recipients. It invests where private sector financing is unavailable or insufficient. It invests in sustainable growth and high-impact solutions in developing markets/countries. It does not invest in Forced labor or child labor, Ozone depleting substances, PCB's (Polychlorinated Biphenyls) and other specific, hazardous pharmaceuticals, pesticides/herbicides or chemicals, wildlife or products regulated under the Convention on International Trade in Endangered Species or Wild Fauna and Flora (CITES), Unsustainable fishing methods, Cross-border trade in waste and waste products, unless compliant with the Basel Convention and the underlying regulations, Destruction of High Conservation Value areas, Radioactive materials and unbounded asbestos fibres, Pornography and/or prostitution, Racist and/or anti-democratic media, Alcoholic Beverages (except beer and wine), Tobacco, Weapons and munitions, Gambling, casinos and equivalent enterprises, Standalone fossil fuelled power plants, Drilling, exploration, extraction, refining and sale of crude oil, natural gas and thermal coal, Storage, supporting infrastructure (pipelines etc.), transportation and logistics, and services primarily related to fossil fuels, Any business using captive coal for power and/or heat generation, Electricity generation from peat and activities leading to deforestation, Investments and/or other projects that aim to produce or make use of agricultural or forestry products, Biomaterials and biofuel production, Export-oriented agribusiness mod, Meat and dairy industries. It prefers investing in commercial services and supplies, biofuels, electric power by solar and wind energy and irrigation systems sector. The firm seeks to invest in climate and Agribusiness. It focuses its investments in Green energy & infrastructure with focus on Clean, affordable renewable energy, Waste recycling and management, Energy efficiency, Water access and management; Financial Services with focus on Microfinance, MSME financing, Development banks and Insurance; Sustainable food systems with focus on Climate farming, Storage and distribution, Processing, Forest and land; Healthcare with focus on Hospitals and clinics, Pharmacy chains, Diagnostic services, Pharmaceuticals & medical equipment. The firm prefers to invest in companies based in Africa focusing on North Africa, Sub-Saharan Africa, South America, Central America, Middle East and Algeria, Angola, Benin, Botswana, Jordan, Denmark, Senegal, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Comoros, Congo (Brazzaville), Democratic Republic of Congo, Côte d'Ivoire, Djibouti, Egypt, Arab Rep., Eritrea, Ethiopia, The Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Morocco, Mozambique, Namibia, Niger, Nigeria, Rwanda, Senegal, São Tomé and Principe, Sierra Leone, Somalia, South Africa, Sudan, South Sudan, Swaziland, Tanzania, Togo, Tunisia, Uganda, Zambia, Zimbabwe; Asia focusing on Afghanistan, Bangladesh, Bhutan, Cambodia, China, Fiji, India, Indonesia, Iran, Iraq, Brazil, Malaysia, Turkey, Mexico, Kiribati, Laos, South Korea, North Korea, Kyrgyzstan, Maldives, Federal States of Micronesia, Mongolia, Myanmar, Nepal, Marshall Islands, Pakistan, Papua New Guinea, Philippines, Western Samoa, Solomon Islands, Sri Lanka, Syria, Tajikistan, Thailand, East Timor, Tonga, Turkmenistan, Tuvalu, Uzbekistan, Vanuatu, Vietnam, West Bank and Gaza, Yemen; Europe focusing on Albania, Russia, Armenia, Azerbaijan, Caucasus, Belarus, Balkans, Bosnia & Herzegovina, Bulgaria, Croatia, Montenegro, Romania, Slovenia, Georgia, Kosovo, Macedonia, Moldova, Serbia, Ukraine; and Latin America with a focus on Belize, Bolivia, Colombia, Cuba, Dominican Republic, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras Nicaragua, Paraguay, Peru, Saint Lucia, Saint Vincent and The Grenadines, Suriname, Ecuador, and Jamaica and North Asia, United States of America, Latin America and parts of Europe. It seeks to invest between from DKK15 million ($2.32 million) and DKK500 million ($77.52 million). The firm can invest up to DKK350 million ($51.34 million) per company. The firm seeks to co-invest with Danish businesses in projects based in developing countries. It prefers to take minority stake between 10% to 30% and up to 49 per cent in small projects. It prefers to take a board membership. The firm prefers to exit its investments within five to seven years when the loan has been repaid or the shares have been sold. The firm also offers special assistance to small and medium-sized enterprises which employs less than 300 employees, with an annual revenue of up to DKK 300 million ($53.16 million) and has a positive result in two out of three latest financial years. It also provides advisory services to business investments in developing countries. The firm makes two thirds of its investments in partnership and can also provide additional financing. Impact Fund Denmark was founded in 1967 and is based in Copenhagen, Denmark with additional offices across Asia, Europe, South America, and Africa.

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV, Investment Arm is a private equity and venture capital of Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. specializing in direct and fund of fund investments. Within direct investments, it invests in middle market, mature, later stage, seed/startup, early venture, emerging growth, recapitalization, buyout, and growth capital investments. Within fund of fund investments, it invests in private equity funds, venture capital funds, and mezzanine funds. It does not invest production or activities involving forced labour or child labour; production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and agreements; production or trade in a weapons and munitions, tobacco, hard liquor, gambling, casinos and equivalent enterprises; any business relating to pornography or prostitution; coal or coal mining; trade in wildlife or wildlife products regulated under CITES; production or use of or trade in hazardous materials such as radioactive materials, unbounded asbestos fibres and products containing PCBs; cross-border trade in waste and waste products unless compliant to the Basel Convention and the underlying regulations; drift net fishing in the marine environment using nets in excess of 2.5 km in length; production, use of or trade in pharmaceuticals, pesticides/herbicides, chemicals, ozone depleting substances and other hazardous substances subject to international phase-outs or bans; significant conversion or degradation of critical habitat; production and distribution of racist and anti-democratic media; significant alteration, damage, or removal of any critical cultural heritage; relocation of indigenous peoples from traditional or customary lands. The firm seeks to invest in agriculture and fisheries, mining, agribusiness, manufacturing industry, service sector, banking and insurance industry, housing, finance, energy, trade industry, Information technology, consumer staples, environment and infrastructure sectors. Within the housing sector, the firm seeks to invest in companies primarily operating in the land acquisition, infrastructure and construction, mortgage finance, leasing, building-related sustainability and housing-microfinance activities. Within the energy domain, it seeks to invest in developing energy-efficient technologies to distributing renewable energy. In case of its finance sector investments, the firm focuses on financial institutions, including banks, and microfinance institutions. In case of Infrastructure, the firm invests in infrastructure projects that contribute to development or improvement of socio-economic infrastructure such as the power, telecom, water, transport, environmental, and social infrastructure sectors. It seeks to invest in developing companies and emerging markets. It invests in Africa with a focus on Morocco, Tunisia, Angola, Botswana Benin, Burkina Faso, Cameroon, Democratic Republic of the Congo, Côte d'Ivoire, Mali, Ghana, Kenya, Mozambique, Senegal, Nigeria Tanzania, Uganda and Zambia. It also invests in Turkey, Lebanon, Kyrgyzstan, Kazakhstan, Uzbekistan, India, China, Bangladesh, Nepal, Pakistan, Sri Lanka, Indonesia, Thailand, Philippines, Vietnam, Costa Rica, Guatemala, Panama, Mexico, Netherlands, Croatia, Hungary, Malta, Poland ,Romania, Aruba, Dominican Republic, Netherlands Antilles, Argentina, Colombia, Brazil, Peru, Uruguay and Russia with a focus on Slovakia. It prefers to invests between €3 million ($4.28 million) and €5 million ($7.14 million) per company. The firm makes seed capital investments of minimum €1 million ($1.43 million) per company or fund. The firm takes minority equity stakes between 10% and 35% in private companies. It prefers to exit its direct equity investments in five years. The fund provides loans of up to €15.5 million ($20.92 million). It also co-invests. Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV, Investment Arm was founded in 1970 and is based in The Hague, Netherlands with additional offices in Nairobi, Kenya; Johannesburg, South Africa and San Jose, Costa Rica.