IT Park Uzbekistan Expands Venture Partnership With China

IT Park Uzbekistan Enhances Venture Collaboration with China

Tashkent, Uzbekistan (UzDaily.uz) — IT Park Uzbekistan, IT Park Ventures, and the Hong Kong-based venture capital firm Roselake Ventures have entered into a trilateral memorandum of understanding to foster cooperation in venture investments across Uzbekistan, China, and Central Asia.

The memorandum was signed after a meeting between Azamat Karamatov, the Director General of IT Park Uzbekistan, and Linxiu Zhang, the General Partner of Roselake Ventures, during an official visit by the Uzbek delegation to Hong Kong.

This agreement sets up a framework for sharing investment opportunities, developing joint investment initiatives, and facilitating the entry of portfolio startups into the markets of both nations. Furthermore, the involved parties plan to leverage their international partner networks to link startups, investors, strategic partners, and other stakeholders within the innovation ecosystems.

The signing of this memorandum follows discussions that began at the TakeOFF Istanbul event. As part of this collaboration, Roselake Ventures will support Uzbek startups in accessing international markets. In return, IT Park Uzbekistan will offer extensive assistance to companies from the fund's portfolio as they enter the Uzbek market through its Soft Landing program, which includes help with business localization, partner identification, and the establishment of business connections.

Founded in 2021 and located in Hong Kong, Roselake Ventures is an early-stage venture capital fund that invests in technology startups within emerging markets. The fund focuses on sectors such as financial technologies, SaaS, e-commerce, logistics, healthcare, and climate technologies, while actively fostering international collaboration among startup ecosystems.

According to IT Park Uzbekistan, this agreement aims to enhance collaboration between the innovation ecosystems of Uzbekistan and China, broaden opportunities for startups and investors, and promote international technological entrepreneurship.