Venture Investment in Central Asia Reaches $95mn in 2024

The venture capital market in Central Asia expanded by 7% in 2024, reaching $95 mln, according to a report by RISE Research in collaboration with EA Group, MA7 Ventures, BGlobal Ventures, KPMG, and dealroom.co.

Kazakhstan remains the dominant player, accounting for 74% of total venture investments in the region. In 2024, Kazakh startups attracted $71 mln, with 53% of the funding coming from foreign investors. The average deal size increased, with 40% of transactions falling within the $200,000–$500,000 range.

Uzbekistan’s venture market recorded significant growth, reaching $17.5 mln—2.7 times higher than in 2023—across 38 deals. The average deal size nearly quadrupled to $460,000. While the share of international investors declined, local investments saw an upward trend.

Kyrgyzstan’s venture sector continued its stable development, with investments totaling $1.7 mln. Notably, one-third of all transactions involved women-led enterprises.

Venture financing in Tajikistan rose to $4.6 mln, supported by tax incentives and the establishment of a $5 mln venture fund.

The region’s startup ecosystem is expanding, with over 1,800 startups and more than 100 investors. Key investment sectors include AI, fintech, edtech, and medtech. Despite challenges related to capital availability at later funding stages, analysts anticipate further growth and deeper integration of Central Asia’s venture market into the global ecosystem.