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Oct 18, 2023 542

"Caucasus Ventures" invested in 3 additional startups!

#Local

As we know, the first venture capital fund of Azerbaijan "Caucasus Ventures" was established at the end of last year.

Caucasus Ventures, Azerbaijan's debut venture capital fund, was established in response to the Ministry of Digital Development and Transport's restructuring and its support for various digital development projects. Founded by startup ecosystem influencer Mammad Kerim, the fund has rapidly proven itself as a successful venture with an 11.3 million manat capital base. Key investors include the Ministry of Digital Development and Transport (5 million manats), "PASHA Holding" Companies Group (5 million manats), and individual entrepreneurs (1.3 million manats). Its main goal is to invest in startups, both locally and regionally. Currently, Caucasus Ventures has extended investments to three new startups: Tripsome, Klipy, and Jobescope.

Caucasus Ventures focuses primarily on the Caucasus, Turkey, Eastern Europe, and Central Asia regions. It primarily seeks out SaaS, Fintech, and other startup ventures in these areas. The fund divides investments into two stages, offering up to $50,000 in the first stage and up to $200,000 in the second. Its previous investments included three startups: Turan App, Tested Wep, and Magic Port. Currently, it has diversified its portfolio by investing in three more startups: Tripsome, Klipy, and Jobescope.

Tripsome's primary mission is to inspire people to create joyful moments that become unforgettable memories, emphasizing unique and entertaining events. Klipy essentially serves as a GIF library, housing short videos and GIFs from various movies, entertainment, and creative moments. Lastly, Jobescope automates complex and time-consuming tasks and provides access to new courses through its platform.