SparkLabs and Mirae Asset Launch VC Fund for Central Asian Startups

The fund, formalized in Seoul during the inaugural Central Asia–Republic of Korea Summit, targets Series A and later-stage ventures. By backing businesses with established models, the partnership seeks to bridge the gap for a region often overlooked by international investors, despite a demographic where over half the population is under 30. Qazaqstan Investment Corporation and IT Park Ventures serve as anchor investors, providing a foundation for startups to leverage the global networks and operational expertise of their Korean counterparts.

Aslan Sultanov, co-founder and general partner of the new fund, points to the emergence of Higgsfield as a regional turning point, proving that world-class AI companies can originate in Central Asia. The initiative arrives as the region sees rising interest from global tech players, including Telegram’s recent establishment of an AI lab and regional office in Kazakhstan. Beyond mere capital, the fund offers portfolio companies direct pathways into markets in South Korea, the United States, and the MENA region, aiming to transform local innovation into international scale.