As we close out 2024, we are proud to share some highlights from this incredible year for our venture fund and portfolio. It has been a journey filled with growth, resilience, and opportunities that have brought us closer to our vision of being a regional fund with a global impact.

Building Strong Foundations

Since day one, we’ve placed a strong emphasis on fostering meaningful connections with founders. This year, we held over 500 one-on-one meetings with startups, a testament to our dedication to identifying and supporting high-potential talent across the region. These conversations have been instrumental in shaping our approach and expanding our network within the startup ecosystem.

Expanding Our Portfolio

Our portfolio now includes 23 innovative startups, with 50% led by Azerbaijani founders. This balance reflects our dual commitment to uplifting local entrepreneurs while maintaining a broad, international outlook. Each of these startups brings unique solutions to diverse industries, contributing to our goal of fostering innovation that transcends borders.

Milestones Achieved

2024 marked a year of significant achievements for our portfolio companies:

• Several startups successfully raised follow-on funding, totaling over $2 million from prominent international investors. These milestones not only validate the potential of these ventures but also underscore our role in enabling them to scale globally.

A Regional Fund with a Global Vision

From the outset, our mission has been clear: to become a regional fund with a global appetite. We’ve actively leveraged the expertise of our tech diaspora, which is thriving in developed regions around the world. This strategic alignment allows us to bridge regional talent with global markets, ensuring our startups have access to the resources and networks they need to thrive.

Looking Ahead to 2025

The year ahead promises even greater momentum. We’re excited to:

• Deepen our engagements with the innovation ecosystem in our country.
• Introduce new initiatives that benefit our portfolio companies, from mentorship programs to strategic partnerships.
• Continue overcoming challenges as pioneers in the venture capital landscape of our region.

Leaving a Lasting Legacy

As the first venture capital firm in Azerbaijan, our journey has not been without its challenges. Yet, every obstacle reinforces our commitment to building a legacy that inspires and empowers the next generation of entrepreneurs.

We extend our heartfelt gratitude to our community, investors, and partners for their unwavering support. Together, we’re shaping a brighter future for innovation and entrepreneurship in our region.

Here’s to a transformative 2025! Stay tuned for more updates and milestones as we continue to grow and make an impact.

Thank you for being part of our journey.