Venture Firms Established New Central Asia Fund
The SparkLabs Mirae Silk Road Fund launched with initial capital of $2 million to support AI startups.
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 partnered to create a new venture capital fund. The initiative aims to support Series A and later-stage startups across Central Asia with a specific focus on AI-native companies.
Why it matters
The fund is designed to help high-growth businesses in the region scale operations beyond their domestic borders. By targeting later-stage companies, the partnership seeks to bridge a financing gap for firms ready for international expansion.
The new SparkLabs Mirae Silk Road Fund I LP starts with $2 million, though it has the capacity to grow to $10 million in total capital. This follows a larger trend of international investment in the region, highlighted by recent commercial agreements between Korea and Kazakhstan totaling $18.95 billion.
The players
Qazaqstan Investment Corporation
This is a state-owned investment firm that manages $2.8 billion across 19 different venture funds.
Mirae Asset Venture Investment
This entity is a major financial firm under the Mirae Asset Financial Group, which manages $845 billion in assets.
SparkLabs Group
This is a global startup accelerator and venture capital firm that focuses on supporting early-stage and growth-stage companies.
IT Park Ventures
This organization acts as an anchor investor focusing on the development of the technology sector within Uzbekistan.
The details
The fund will be jointly managed by Mirae Asset Venture Investment and SparkLabs, while Qazaqstan Investment Corporation and IT Park Ventures serve as anchor investors. IT Park Ventures is currently evaluating further participation as an anchor limited partner in future stages.
Timeline
The agreement was signed in September 2026 during a summit in Seoul.
Startup Higgsfield reached a $1 billion valuation status in 2025.
Market Landscape
The launch of this fund follows the pattern of economic integration established by the $18.95 billion in commercial agreements between Korea and Kazakhstan. This move aligns with broader efforts to increase venture capital penetration in emerging markets that are scaling beyond home borders.
For entrepreneurs and AI developers in Central Asia, this fund creates a new dedicated pathway for accessing growth-stage capital. Local businesses that meet the fund requirements may see increased opportunities to scale operations into international markets.
The takeaway
This partnership highlights the increasing importance of cross-border collaboration in the global venture capital market. Investors and founders should monitor how regional anchors utilize such funds to bridge the gap between early-stage innovation and scalable market entry.
Further reading
Learn more about the latest developments in the global Startups sector.
Source note: This article includes information reported by Crypto.
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