BAKU, Azerbaijan, March 13. Caucasus Ventures has so far invested about $1.2 million in startups, Director of Caucasus Ventures fund Mamed Kerim told Trend.
"At present, the investment volume of our fund is about $1.2 million, distributed among 18 startups, half of which are of Azerbaijani origin. It is important to note that not all of these businesses are located directly in Azerbaijan, but their founders and evaluators are from this country. According to forecasts, by the end of this year, our fund plans to expand its investment portfolio to 24-25 projects, thus confirming its strategy of active investment in innovative initiatives," he emphasized.
To note, the Caucasus Ventures venture fund was established in November 2022. The volume of investments in the creation of the fund is 11.3 million manat ($6.6 million) (5 million manat ($2.9 million) invested by the Ministry of Digital Development and Transportation of Azerbaijan, 5 million manat ($2.9 million) - PASHA Holding, and 1.3 million manat ($763,000) are private investments).
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