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
JUNEAU, Alaska (AP) — Alaska U.S. Senate candidate Dan Sullivan acknowledges that sharing a name and party affiliation with the incumbent Republican gives him “an instant megaphone" in the crowded primary race. But Sullivan said his campaign isn't a sham or something Democrats put him up to doing.
He said friends for years have jokingly referred to him as senator and asked if he has ever thought about running. He said he’s been considering it for more than a decade.
“This is my choice,” Sullivan, who lives in the small fishing community of Petersburg, said in a telephone interview Monday.
Last week, Sen. Dan Sullivan accused the challenger Sullivan of “trying to trick” voters to help his main rival in the race, Democratic former U.S. Rep. Mary Peltola. The senator suggested the other Sullivan's entrance in the August primary was part of a coordinated effort by Democrats and Peltola's campaign to confuse voters, an accusation they deny. He threatened litigation to get to the bottom of it.
The issue is of national concern to Republicans because they are seeking to hold onto their majority in the U.S. Senate in what is expected to be a difficult midterm election year for the party in power. Sullivan, the challenger, dismissed claims that his candidacy is a merely a ruse to undermine the senator's reelection chances.
He said he has had no contact with Peltola's campaign — “zero, none, zilch” — and said “no” when asked if anyone from the state Democratic Party or any national Democratic operatives had contacted him to run.
A Peltola spokesperson, Harry Child, has said the campaign “has no involvement with either Sullivan campaign.” The executive director of the Alaska Democratic Party, Jenny-Marie Stryker, said her organization “is in no way affiliated with either Dan Sullivan.” A Democratic Senatorial Campaign Committee spokesperson, Monica Robinson, replied “no” when asked if the group had been involved in urging the challenger Sullivan to run.
Sullivan called sharing a name with the Alaska's incumbent U.S. senator “a matter of fate” and said he had done nothing wrong.
“I have every right to run for whatever office I'm qualified for, and I’m qualified for this office,” the challenger said, adding: “I think I’m doing what most Americans would think would be a patriotic thing to do when you’re unsatisfied with the status quo. You stand up and say, I’m going to fight for things I believe that are going to make my community better.”
Ballots in prior years in Alaska have not identified the incumbent, but the Alaska Division of Elections’ current candidate list online does. It also distinguishes the candidates using a middle initial — Dan S. Sullivan for the senator and Dan J. Sullivan for the challenger.
Alaska has open primaries in which the top four vote-getters, regardless of party, advance to the ranked choice general election in November. Sen. Sullivan's campaign worries having two Dan Sullivans on the ballot could confuse voters.
Sen. Sullivan's campaign, in a statement Monday, said, “Alaskans deserve a fair and honest election — not political games meant to manipulate the ballot and benefit Democrats.”
The challenger said he was registered with the limited government-leaning Alaskan Independence Party for decades, until the party's dissolution late last year. Election officials had said voters registered with the party could change their affiliation but if they did not, they'd be shown as “undeclared.” Sullivan said he then was listed as undeclared until filing to run for office, when he registered as Republican.
He said he was motivated in part by his late father, whom he described as a “true, compassionate, conservative Republican.” He said if he had to label himself, it would be “a pragmatic Republican centrist” — similar to Alaska's senior U.S. senator, Lisa Murkowski, but “with touches of a Rand Paul Republican in there.”
He said he grew up in the Chicago area but was drawn to Alaska and put down roots nearly 50 years ago in Petersburg. The fishing community of about 3,400 in southeast Alaska's Tongass National Forest is known as “Little Norway” for its many residents with Scandinavian roots. He worked for the U.S. Forest Service before changing careers and becoming a teacher. He has since retired.
Like most communities in Alaska, Petersburg isn't connected to the state's main road system and is accessible only by air or water. Juneau, the nearest city, is about 45 minutes away by plane.
Petersburg sits on Mitkof Island, which is distinguished by mountains, thick stands of forest and boggy areas called muskeg. Sea lions hauled up on buoys and humpback whales and orcas are common sights off its shores.
Sullivan, who will turn 69 this weekend, passed on an interview request last Friday, he said, because the king salmon were running and he wanted to fish.
As far as his run for office, the challenger said he plans to do some fundraising and hopes to campaign in the state's larger cities, including Anchorage and Juneau, but he so far has no firm plans to do so and is working on the details.
He finds the current dustup over his Senate run — and the incumbent's reaction — a bit surprising.
“I guess my thought would be, ‘Dude, why don’t you just run your campaign?’ If you’ve got a strong record, run on your record. People will love you for it and you’ll be swept back into office,” he said Monday. “Why would he be concerned that a guy out of Petersburg is this huge threat?”
Sen. Dan Sullivan, R-Alaska, heads to a closed-door meeting with fellow Republicans, at the Capitol in Washington, Tuesday, June 2, 2026. (AP Photo/J. Scott Applewhite)
