Central Asia's Venture Capital Market Reaches $95 Million in 2024

ALMATY, Kazakhstan--(BUSINESS WIRE)--Mar 19, 2025--

Research by RISE Research, EA Group, MA7 Ventures, BGlobal Ventures, KPMG, and Dealroom.co shows Central Asia's venture capital market grew 7% to $95 million in 2024. The region now hosts over 1,800 startups and more than 100 active investors, representing significant ecosystem growth over the past five years.

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Kazakhstan leads with 74% of regional investments, attracting $71 million in 2024 for a total startup valuation of $710 million. Deal sizes grew significantly, with 40% ranging from $200,000-$500,000, compared to 62% under $200,000 in 2021. Foreign investors contributed 53% of funding, coming from the USA, UAE, UK, Saudi Arabia, Singapore, Azerbaijan, Turkey, Estonia, and others. Twelve Kazakhstani venture funds hold $157 million collectively, with 32% already invested and 44% raised from high-net-worth individuals.

Uzbekistan's market grew 2.7 times to $17.5 million across 38 deals, with average deal size quadrupling to $460,000. Local investors provided 52% of funding, while international investment decreased by 11% compared to 2023. Five new venture funds launching in Q1 2025 signal increasing activity, though the market remains focused on early-stage investments.

Kyrgyzstan attracted $1.7 million with 19% annual growth since 2022. Women-founded startups were prominent, accounting for one-third of deals but two-thirds of investment volume. While accelerators and hubs made the most deals (50%), venture funds (mostly foreign) provided 66% of capital, highlighting the importance of international connections.

Tajikistan reached $4.6 million in venture financing, focusing on halal fintech and AI credit scoring models, supported by tax incentives for startups in IT Park Dushanbe and a new $5 million fund. This represents the country's first significant steps in developing venture investment infrastructure.

Leading sectors across the region include AI, fintech, educational and medical technologies. However, later-stage funding remains scarce, pushing startups toward international markets. Currently, Central Asian founders have established 200+ startups in the USA, 50+ in the UK, and 20+ in the UAE.

Analysts predict continued growth and integration into the global ecosystem in coming years.

The study is available at the following link.

Research by RISE Research, EA Group, MA7 Ventures, BGlobal Ventures, KPMG, and Dealroom.co

TALLAHASSEE, Fla. (AP) — The game between No. 19 SMU and Florida State kicked off after a delay of nearly two hours on Monday night due to a power outage at the stadium.

Power went out at Doak Campbell Stadium just minutes before the scheduled kickoff and the delay lasted about 1 hour, 45 minutes. The Seminoles (1-0) and Mustangs (0-0) finally took the field at 9 p.m. EDT for warmups and the game started at 9:15 p.m. under less than ideal conditions.

Not all the stadium lights were operating and the teams were forced to deal with a number of other issues, including no coach-to-player communication, no iPads on the sidelines, no public address announcer and no scoreboard.

There was no public game clock and on-field officials were keeping track of the time. Some replays were being shown on the Jumbotron.

A statement on the Jumbotron inside the stadium during the delay read: “Technical staff are addressing a power disruption to the west side tower due to an electrical short in the main transformer. Electricians are working to restore the power service. The game remains suspended. Update to follow.”

ACC commissioner Jim Phillips chatted with athletic directors from both schools, SMU’s Damon Evans and Florida State’s Michael Alford, for a few minutes on the field before administrators moved inside to further discuss options.

The highly anticipated finale on Labor Day to the weekend's first full slate of games was put on hold as a countdown clock inside the stadium stopped at 7:30 p.m. and the stadium lights went out.

Florida State and SMU had run out of their respective tunnels and onto their sidelines just moments before the game officially entered a delay. The Seminoles and Mustangs remained on their sidelines before eventually being sent back to their locker rooms.

A few specialists from both teams returned to the field to warm up. Florida State's punter encouraged the fans to stand up and cheer, and the school’s band played in one end zone. Fans did the wave and knocked around beach balls.

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Florida State students react during a stadium-wide power outage before an NCAA college football game against SMU, Monday, Sept. 7, 2026, in Tallahassee, Fla. (AP Photo/Noah Lantor)

SMU head coach Rhett Lashlee watches his team during warmups Monday, Sept. 7, 2026, in Tallahassee, Fla. (AP Photo/Noah Lantor)