SparkLabs and Mirae Asset Plan Central Asia Venture Fund
SparkLabs Group, Mirae Asset Venture Investment, Qazaqstan Investment Corporation and IT Park Ventures of Uzbekistan signed a term sheet to establish SparkLabs Mirae Silk Road Fund I LP, the companies announced in a press release.
Qazaqstan Investment Corporation and IT Park Ventures will serve as anchor investors. SparkLabs and Mirae Asset Venture Investment will manage the fund.
The fund will invest in Central Asian startups at Series A and later stages, focusing on AI companies and other businesses with proven models. Portfolio companies will receive support for expansion into South Korea, the United States and the Middle East and North Africa.
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Tensordyne Napier: What If One Rack Could Do the Work of Nine?
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