BAKU, Azerbaijan, March 7. MOST Ventures plans to launch its second venture fund ($30M) which will provide support for global early-stage tech companies with a regional presence in Central Asia, a source at MOST Ventures told Trend.
The company representative noted that supporting startups in Central Asia remains the strategic goal.
“This is part of the company's long-term vision to become the Y Combinator of Central Asia, investing in the most prominent startups in the region and raising local venture success stories, including unicorns,” the source noted.
MOST Ventures representative added that they are planning to continue supporting Central Asian startups and projects and building a strong startup ecosystem following the example of Silicon Valley and other high-performing ecosystems.
The representative noted there is a multitude of attractive startup projects in Kazakhstan and Central Asia in general, and some startups already have a significant share in their respective markets.
The source added that startups like OneVision, an Internet acquiring services provider, already cover 30 percent of the Kazakhstani market, NambaOne, a Kyrgyzstan-founded app offering payment solutions and essential services such as grocery/food delivery, taxi, utilities, etc., is shaping the innovation scene in Central Asia and are expected to achieve significant heights in the future.