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
NEWARK, N.J. (AP) — Connor Hellebuyck is joining the New Jersey Devils and is very happy about it.
The 33-year-old three-time Vezina Trophy-winning goaltender met the media before New Jersey faced the Los Angeles Kings on Saturday and his eagerness to wear No. 37 for the Devils was evident.
“Sitting at home for so long was getting to me. For myself, I’m just really excited to play hockey again," Hellebuyck said after his suspension by the Winnipeg Jets for his failure to report to training camp led to Friday’s trade with New Jersey. “I’m joining a very skilled group. They brought me for a certain specific role. I’m really excited to fill that role, not only on the ice but off the ice as well.”
Hellebuyck spent 11 seasons with the Jets, including a Presidents’ Trophy-winning season in 2024-25, and helped the United States win gold at the Milan Cortina Olympics this year. A fifth-round draft pick in 2012 by Winnipeg, Hellebuyck is fifth on the U.S.-born goaltenders list with 345 career wins. Among U.S.-born goalies with 300 or more career starts, his .916 save percentage ranks fourth and 2.58 goals-against average ranks sixth.
Hellebuyck will share goaltending duties with 36-year-old Jake Allen.
The Devils sent forward Dawson Mercer, goalie Nico Daws, prospect Alexander Command, a 2029 second-round pick, a 2027 seventh-rounder and injured forward Nick Bjugstad to Winnipeg for Hellebuyck.
“Obviously having a goaltender of this pedigree come in here and support Jake is exciting," Devils coach Sheldon Keefe said. ”That should give the group more confidence."
General manager Sunny Mehta said Hellebuyck's excitement for his new destination was palpable within minutes of their initial conversation.
Hellebuyck has been skating in Michigan while trade talks continued. He has five seasons left on a seven-year contact with an annual salary cap hit of $8.5 million.
“He was like: ‘I’m ready, I’m packed. I’ll get in my car right now,'” Mehta said about his exchange with his new goalie.
Mehta laughed and said he told Hellebuyck: "Don’t do that.”
Mehta has been trying to improve a team that missed the playoffs two of the past three seasons and won just one playoff series since 2012. New Jersey has won six of its first 10 games this season.
“Everything is about winning. That is my goal every single day," Mehta said. ”This obviously makes us a better team. In my view it improves our team — and I was thrilled about my team coming out of camp."
When Hellebuyck plays his first game for New Jersey is still undetermined. He hasn't played in an NHL game since April 13, a 6-2 Jets loss to the Vegas Golden Knights. Winnipeg missed the playoffs last spring a year after finishing with an NHL-best 116 points.
Hellebuyck won 47 games in 2024-25. The Jets advanced past the second round only once during his tenure in Manitoba.
Hellebuyck said it's too early to address his feeling toward the city of Winnipeg and Jets fans. New Jersey visits Winnipeg on Nov. 10.
“There’s a lot I need to say," he said. ”Out of respect for them and the celebration of hockey, I’m going to postpone to a later date. I hope they know I care about them."
Hellebuyck added that winning gold with his now-teammate Jack Hughes — who scored the overtime goal against Canada in February for the Americans' first gold medal since the 1980 “Miracle on Ice” team — has left an indelible mark on him.
“That’s one of those moments and memories that I will cherish forever. And I will probably hear how other people will cherish them forever," he said. “One of my favorite stories is, ‘Where were you when?’ People will tell me what they were doing during the gold-medal game. Those are my favorite stories to hear.”
The veteran netminder, a native of Commerce, Michigan, who played two seasons of college hockey at UMass-Lowell, added that he looks forward to playing home games in the U.S. after more than a decade calling Canada home.
Hellebuyck added that while he was unfamiliar with life in New Jersey at the moment, he is looking forward to discovering everything that comes with new surroundings — finding a home, favorite restaurants and new places to spend free time.
“I know I’m going to get a lot more of that here than in Canada because I don’t think they care much about it," he said of the gold-medal plaudits for the Olympic win over Canada. “This is closer to my family’s home. Just being in the USA will be very exciting for this next chapter in my career.”
See AP’s full NHL coverage here
FILE - Winnipeg Jets goaltender Connor Hellebuyck (37) makes a save against a St. Louis Blues shot during the third period of Game 2 of a first-round NHL hockey playoff series in Winnipeg, Manitoba, Monday April 21, 2025. (Fred Greenslade/The Canadian Press via AP, File)
FILE - Winnipeg Jets goaltender Connor Hellebuyck (37) makes a save on a shot by Ottawa Senators' Dylan Cozens (24) during the second period of an NHL hockey game in Ottawa, Ontario, on Saturday, Jan. 3, 2026. (Patrick Doyle/The Canadian Press via AP, File)
FILE - Winnipeg Jets goaltender Connor Hellebuyck stands by the net during a time out from play against the Dallas Stars in the first period of an NHL hockey game, April 2, 2026, in Dallas. (AP Photo/Tony Gutierrez, File)
