SparkLabs Mirae Silk Road Fund I LP to Target Central Asian Series A Startups

SparkLabs Group, Mirae Asset Venture Investment, Kazakhstan's Qazaqstan Investment Corporation, and Uzbekistan's IT Park Ventures have signed a term sheet to establish SparkLabs Mirae Silk Road Fund I LP, a venture capital fund to be managed by Mirae Asset Venture Investment and SparkLabs Group. According to ChainCatcher, the signing took place in Seoul during the state visits of the presidents of Kazakhstan and Uzbekistan to South Korea and the first Central Asia-South Korea summit. QIC and IT Park Ventures will serve as anchor investors. The new fund will back Series A and later-stage startups in Central Asia that have proven business models and are preparing to expand beyond the region, with a focus on AI-native companies. Portfolio companies will also receive support from SparkLabs and Mirae Asset's global network, including assistance with expansion into South Korea, the U.S., and the Middle East.