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Dec 04, 2023 726

"Caucasus Ventures" has invested in 3 startups based in Azerbaijan, Uzbekistan and the USA!

#Regional

Caucasus Ventures continues to play a vital role in fostering innovation and entrepreneurship in Azerbaijan and the broader region. With strategic investments in diverse startups, the fund contributes to the growth of the digital ecosystem and underscores the commitment to addressing contemporary challenges through technology and innovation.

As we know, Azerbaijan's first venture capital fund, "Caucasus Ventures," was established at the end of last year. The creation of this fund became inevitable due to the restructuring of the Digital Development and Transportation Ministry and its support for various projects in digital development. Founded by Mammad Kerim, one of the key founders and players in the startup ecosystem, the fund has proven to be a very successful venture for our country, with a capital of 11.3 million manats. The Digital Development and Transportation Ministry invested 5 million manats, "PASHA Holding" Companies Group invested 5 million manats, and individual entrepreneurs contributed 1.3 million manats. The main goal of the fund is to invest in startups both in Azerbaijan and the region. Currently, Caucasus Ventures has invested in three additional startups: PERKSKIT, TASS Vision, and BERKM Inc.

Caucasus Ventures focuses primarily on the Caucasus, Turkey, Eastern Europe, and Central Asia regions. The fund aims to invest in SaaS, Fintech, and other startups in these regions. Caucasus Ventures invests in startups in two stages, with the first stage having an investment volume of up to $50,000 and the second stage up to $200,000. It's worth noting that the Azerbaijani-based startup PERKSKIT offers companies a solution to efficiently manage employee rewards based on individual choices. Another startup, TASS Vision from Uzbekistan, offers a new solution in customer analysis by converting security camera images into real-time information.

Previously, the fund had invested in three startups: Tripsome, Klipy, and Jobescope. Now, Caucasus Ventures has extended its investments to three more startups, with the latest being BERKM Inc. This U.S.-based startup addresses environmental issues by providing innovative solutions to reduce the use of plastic in packaging. Additionally, Caucasus Ventures will continue to support new and innovative startups.