SparkLabs and Mirae Asset launch Central Asia venture fund

The fund, which is starting with $2 million in initial capital and holds the potential to reach $10 million, focuses on startups with established business models ready to navigate international markets. While the investment mandate remains sector-agnostic, the partners are prioritizing AI-native enterprises—those where artificial intelligence forms the core of the product. Portfolio companies will receive direct support for expansion into South Korea, the United States, and the MENA region.

Aslan Sultanov, co-founder and General Partner of the fund, cited the rise of Higgsfield—Kazakhstan’s first unicorn—as a catalyst for the initiative. Founders Yerzat Dulat and Alex Mashrabov reached a $1 billion valuation for their AI video generation startup in 2025, signaling that Central Asian companies can compete on a global stage. To facilitate this momentum, SparkLabs plans to open an office at IT Park in Tashkent, aiming to bridge the gap between regional startups and international capital. The agreement was finalized in Seoul during the first Central Asia-Republic of Korea Summit, occurring alongside a broader series of commercial deals between the nations valued at $18.95 billion.