Managing partner Asher Siddiqui of Sukna Ventures and Marvin Liao, global macro investor specialized in startups, Partner at Diaspora Ventures revealed plans for a venture fund launch during the recent StrategEast State and IT Eurasian Forum.
The investors were instrumental in recognizing the value of local startup projects and proposed the creation of a venture fund, set to be headquartered in Kazakhstan but operating across Central Asia and the Caucasus, connecting regional markets with global opportunities.
The fund’s unique strategy will involve sourcing “angels” locally, with investments primarily directed back into the regional market and partially into the Western market. The fund targets $15 million, with investments ranging from half a million to a million dollars, allowing diverse investors to gain valuable experience.
Mr. Liao confirmed negotiations with potential investors, expressing optimism about the fund’s launch within six months, operational by the end of 2023 or early the following year.
The fund will also provide educational purpose, providing investors with insights into venture investment intricacies.
