Caucasus Ventures invested in 3 startups

The first venture capital fund of Azerbaijan "Caucasus Ventures" was established at the end of last year. The establishment of this fund was inevitable due to the restructuring of the Ministry of Digital Development and Transport and its support of various projects on the path of digital development. The fund founded by Mammad Karim , one of the main founders and players of the startup ecosystem, is a very successful business for our country. The capital of Caucasus Ventures is 11.3 million manats. The Ministry of Digital Development and Transport invested 5 million manats, the "PASHA Holding" Group of Companies invested 5 million manats, and individual entrepreneurs invested 1.3 million manats in the fund. The main goal of the fund is to invest in startups both in Azerbaijan and in the region.

The main focus of Caucasus Ventures is the Caucasus, Turkey, Eastern Europe, Central Asia. The fund aims to invest mainly in Saas, Fintech and other startups in these regions. Caucasus Ventures invests in startups in two stages. The amount of investment in the first stage is up to 50 thousand dollars, and in the second stage it is up to 200 thousand dollars. The fund has already invested in 3 startups: Turan APP, Tested Web and Magic Port.

Turan APP provides commission-free money transfer service between Turkic world countries. The startup founded in Istanbul started its activity outside Turkey for the first time in Azerbaijan. The founder of the startup is Özgür Bayraktar .


TestedWeb is a 2-earner online review platform that uses artificial intelligence to screen and remove fake reviews. The founder of the startup is Yagub Rahimov, our compatriot who lives in the USA . 


Magic Port provides a variety of tools for ship owners, managers and ship personnel to collaborate reliably. The startup's main center of activity is Singapore. The founder of Magic Port is our compatriot Ali Gara .


The founder of two of the startups that received investment is an Azerbaijani. From the selected startups, it can be seen that, in addition to the selection criteria mentioned on the website of Caucasus Ventures, one of the main criteria is that the founders of the startups are Azerbaijanis or that the startup benefits Azerbaijan. This is a pretty good criterion. 

According to information provided by Caucasus Ventures, they have met with more than 70 startup founders from Azerbaijan, Turkey, Kazakhstan and Uzbekistan. They were able to invest in only 3 of these startups. Meetings are still ongoing. It is predicted that the fund will have investment opportunities for the next 5-7 years with the current capital. 

Application to the fund is made online through the website. Startups can apply for investment directly from the website.



Subscribe to our Newsletter