Key Takeaways
- • IT Park Uzbekistan, IT Park Ventures, and Hong Kong-based Roselake Ventures signed a trilateral Memorandum of Understanding to establish cross-border venture capital cooperation framework spanning Uzbekistan, China, and Central Asia.
- • Roselake Ventures will support international expansion of Uzbek startups, while IT Park Uzbekistan provides soft-landing services for Roselake's portfolio companies entering the Uzbek market, including business localization and partner matchmaking.
- • High-level Uzbekistan-Hong Kong cooperation agreements totaled over US$1.65 billion in signed deals across trade, investment, and technology sectors during the official visit.
- • The partnership establishes startup deal flow exchange mechanisms, co-investment opportunities, and leverages both innovation ecosystems' networks to connect startups with investors and strategic partners across regions.
- • A planned Uzbekistan-Hong Kong Business Council will serve as a platform supporting ongoing bilateral business collaboration, with capital markets cooperation including exploration of dual listings and cross-border listing activities.
Summary
Uzbekistan and Hong Kong have formalized cross-border venture capital cooperation through a trilateral memorandum signed between IT Park Uzbekistan, IT Park Ventures, and Roselake Ventures, a Hong Kong-headquartered early-stage venture capital fund founded in 2021. The agreement, finalized during an official visit by Azamat Karamatov, CEO of IT Park Uzbekistan, with Lingxiu Zhang, General Partner at Roselake Ventures, creates a structured framework for startup deal flow exchange, co-investment opportunities, and reciprocal market access between the innovation ecosystems.
The partnership establishes clear operational mechanisms: Roselake Ventures will facilitate the international expansion of Uzbek technology startups, while IT Park Uzbekistan will provide comprehensive soft-landing services for Roselake's portfolio companies entering the Uzbek market. These services include business localization, strategic partner matchmaking, and business development support. The arrangement leverages both parties' international networks to connect startups with investors, strategic partners, and ecosystem leaders across geographies. Roselake Ventures focuses on early-stage technology investments across fintech, SaaS, e-commerce, logistics, healthtech, and climate technology sectors in emerging markets.
The broader bilateral engagement between Uzbekistan and Hong Kong extends beyond venture capital. During the visit, the two jurisdictions signed 96 cooperation agreements and memorandums of understanding with combined value exceeding US$1.65 billion. These agreements span trade, investment, technology, and capital markets cooperation. A key institutional outcome is the planned establishment of the Uzbekistan-Hong Kong Business Council, designed to provide ongoing platform support for bilateral business collaboration and investment coordination.
Capital markets cooperation represents an additional strategic dimension. Both parties intend to explore expanded cross-border listing opportunities, including dual listings in equities and coordinated listing activities. This initiative aims to deepen financial market integration and facilitate capital flows between the two regions. The venture capital cooperation builds on discussions initiated at TakeOFF Istanbul, indicating momentum in Central Asian and Hong Kong startup ecosystem linkages. China remains the dominant foreign investor in Uzbekistan, accounting for more than 65% of total foreign direct investment stock, followed by South Korea, Russia, Kazakhstan, and Turkey.
The partnership establishes clear operational mechanisms: Roselake Ventures will facilitate the international expansion of Uzbek technology startups, while IT Park Uzbekistan will provide comprehensive soft-landing services for Roselake's portfolio companies entering the Uzbek market. These services include business localization, strategic partner matchmaking, and business development support. The arrangement leverages both parties' international networks to connect startups with investors, strategic partners, and ecosystem leaders across geographies. Roselake Ventures focuses on early-stage technology investments across fintech, SaaS, e-commerce, logistics, healthtech, and climate technology sectors in emerging markets.
The broader bilateral engagement between Uzbekistan and Hong Kong extends beyond venture capital. During the visit, the two jurisdictions signed 96 cooperation agreements and memorandums of understanding with combined value exceeding US$1.65 billion. These agreements span trade, investment, technology, and capital markets cooperation. A key institutional outcome is the planned establishment of the Uzbekistan-Hong Kong Business Council, designed to provide ongoing platform support for bilateral business collaboration and investment coordination.
Capital markets cooperation represents an additional strategic dimension. Both parties intend to explore expanded cross-border listing opportunities, including dual listings in equities and coordinated listing activities. This initiative aims to deepen financial market integration and facilitate capital flows between the two regions. The venture capital cooperation builds on discussions initiated at TakeOFF Istanbul, indicating momentum in Central Asian and Hong Kong startup ecosystem linkages. China remains the dominant foreign investor in Uzbekistan, accounting for more than 65% of total foreign direct investment stock, followed by South Korea, Russia, Kazakhstan, and Turkey.
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