Uzbekistan is establishing a national venture fund UzVC, follows from the government decree on organizing the fund’s activities.

According to the document, the initial authorized capital of the venture fund will be 15 billion soums, which will be formed at the expense of the state budget allocated to the Ministry of Innovative Development.

The State Assets Management Agency will receive a 100% stake in the UzVC venture fund. At the same time, it is planned that a private company, selected through a tender, will manage the fund.

The venture fund will finance projects of legal entities and individuals, including in partnership with foreign entities.