New Venture Financing Company to Be Established in Azerbaijan with IDDA Support

The Innovation and Digital Development Agency (IDDA) and the venture fund White Hill Capital have signed a Founding Agreement to establish a new venture financing company in Azerbaijan. White Hill Capital has played a key role in scaling and growing numerous startups through venture capital investments across the Central Eurasia region. Under the agreement reached during the “INMerge” Innovation Summit, the fund’s activities in Azerbaijan will be further expanded.

At the signing ceremony, IDDA Chairman Farid Osmanov highlighted that the entry of a new foreign venture fund into the Azerbaijani ecosystem will accelerate local startups’ integration into the global environment: “At IDDA, we continue to create new opportunities for our startups to access venture financing mechanisms. Today, we have taken another important step in this direction. White Hill Capital has proven its effectiveness through regional investments, and we aim for the Azerbaijani ecosystem to fully benefit from the fund’s resources in the near future.”

Aslan Sultanov, Managing Partner of White Hill Capital venture fund, highlighted the high potential of the Azerbaijani ecosystem and its increasing appeal to investors. He noted that the fund’s entry into the Azerbaijani market will both broaden its investment portfolio with promising opportunities and support the diversification of the venture financing environment in Azerbaijan.

The event concluded with presentations from Azerbaijan’s “Push30” and Tajikistan’s “Zypl” startups, which have benefited from investments by White Hill Capital. Startup representatives shared detailed information on the fund’s financial support model and emphasized the crucial role of its investments in enabling startups to scale.

Founded in Kazakhstan in 2021, White Hill Capital is a regional venture fund primarily investing in startups from Central Eurasian countries.