Tohir Mirzajonov, a Qatar-based venture capitalist, and Mukhammad Khalil, founder of Uzbekistan’s leading venture studio Startup Garage, have announced the launch of Imkon Ventures, a $5 million early-stage fund dedicated to investingin high-growth startups across Uzbekistan and projected to create over 1000 high skilled jobs.
Imkon Ventures aims to back visionary founders building transformative technology companies in fintech, AI, B2B SaaS, and deep tech. With a focus on pre-seed and seed-stage investments, the fund is positioned to act as a bridge between the MENA and Central Asian regions, unlocking regional scalability and cross-border growth for startups. The fund’s launch was announced at the Asian Development Bank’s (ADB) SME Conference, putting it on the radar of global LPs and financial institutions.
The fund plans to invest in 25-30 startups over the next two years, with individual fundings being between $50K and $150K, with additional follow-on funding reserved for top-performing companies. UzVC, Uzbekistan’s state-backed fund of funds, has been named as the anchor investor — sending a strong institutional signal to the market and helping pull in other backers.
“Uzbekistan’s growth and potential are finally gaining the global recognition they deserve. I believe now is the time to invest in our ambitious, young population. Having spent over a decade in the MENA region, I see powerful synergies between these markets and Imkon Ventures is our bridge between them.” said Tohir
“Uzbek entrepreneurs are ready to go big,” said Mukhammad Khalil, General Partner at Imkon Ventures. “From the early days of my journey in edtech to launching multiple startups through Startup Garage, I’ve witnessed firsthand the talent and ambition in this country. Every day brings new ideas with even greater potential. Now, it’s time to take these ventures global and bring international investment to our founders and Uzbekistan.”
The initiative is expected to generate over 1,000 high-skilled jobs in Uzbekistan by 2030 and support the development of digital infrastructure. Long-term goals include building unicorn startups from Uzbekistan and increasing the country’s contribution to the regional innovation economy.
About Imkon Ventures
Imkon Ventures is a early-stage fund co-founded by Tohir Mirzajonov and Mukhammad Khalil, investing in transformative startups across Uzbekistan and the broader Central Asia and MENA regions. With deep ties to venture studios and institutional investors, Imkon provides capital, strategic guidance, and access to cross-border growth opportunities.
