London’s Sturgeon Capital launches $35M fund aimed at emerging startups in Central Asia

We reported last year on the launch of a $225 million VC platform from the International Finance Corporation, a member of the World Bank, which would also cover Central Asia. In addition, Most VC launched its accelerator out of Almaty, Kazakstan. So it’s clear these regions, for too long considered backwaters, are now finding their feet as a new wave of tech talent comes online, eager to join the tech industry and the startup ecosystem. Indeed, they are following a similar path to the wave of tech VC investment that hit countries like Indonesia, Nigeria and Brazil in the last few years.

Taking advantage of that today is Sturgeon Capital, a London-based VC, which plans to invest in early-stage startups in the emerging markets of Central Asia and South Asia (excluding India).

Sturgeon’s latest VC fund, Sturgeon Emerging Opportunities II (SEO II), will deploy its $35m fund, building on its previous fund (SEO I), a 2020 vintage fund that has made 18 investments focused at Seed up till Series A. SEO II will continue to invest in FinTech, B2B Software and Marketplace business models.

Kiyan Zandiyeh, Sturgeon’s Managing Partner, said in a statement: “Sturgeon’s on-the-ground presence in each market allows us to see all deal flow, due diligence it effectively, and provide true value add support post investment.”

Commenting on the new fund, Alex Branton, a partner at Sturgeon added: “SEO II is investing in the rapid digitalisation of some of the world’s least developed countries that are following the emerging markets’ technology playbook, proven in multiple comparable markets over the last decade. Sturgeon is a for profit and for-impact investor, with an impact strategy built on three pillars of employment, financial inclusion, and gender.”

Since launching in February 2023, the new fund has made investments in Shikho (Bangladeshi EdTech) and Oasis MFI (Central Asia FinTech).

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


Gary Vaynerchuk: NFTs will go beyond being just collectibles

Welcome back to Chain Reaction, a podcast that unpacks and dives deep into the latest trends, drama and news with some of the biggest names in crypto breaking things down block by block for the crypto curious. For this week’s episode, Jacquelyn interviewed Gary Vaynerchuk, better known as Gary Vee. He is the chairman of […]

Read More

Tesla says all new Model 3s now qualify for full $7,500 tax credit

ADVERTISEMENT All new Tesla Model 3 vehicles will now qualify for the full $7,500 federal EV tax credit, according to a change in Tesla’s website. The EV tax credits were mandated by Congress last August as part of the Inflation Reduction Act, with the goal of ending U.S. reliance on China for batteries. The full $7,500 […]

Read More

T. Rowe Price has marked down its stake in Canva by 67.6%

Last summer, Blackbird, one of Australia’s largest venture operations, marked down the value of one of its most prized stakes, in the Sydney-based design platform Canva. Valued at $40 billion by investors in a $200 million round in the fall of 2021, Blackbird adjusted its own valuation of the company 36% to $25.6 billion. Now, […]

Read More
ankara escort çankaya escort çankaya escort escort bayan çankaya istanbul rus escort eryaman escort ankara escort kızılay escort istanbul escort ankara escort ankara escort escort ankara istanbul rus Escort atasehir Escort beylikduzu Escort Ankara Escort malatya Escort kuşadası Escort gaziantep Escort izmir Escort