Uzbekistan generated 44 out of 58 venture deals across the CIS, driven by local funds Yoshlar Ventures, Aloqa Ventures, IT Park Ventures, and Imkon Ventures.
Kazakhstan ranked second with 12% of deals, while Azerbaijan came in third with 5%. In the first half of 2026, IT Park Ventures raised $20 million (expanding its capital to $30 million), and Yoshlar Ventures secured $10 million (bringing its total to $20 million). Typical early-stage check sizes range from $10,000 to $300,000. At the same time, the CIS saw just three M&A exits, all in Kazakhstan—Uzbekistan still lacks systemic exit routes for investors.