Firms Launched $2 Million Central Asian AI Fund
The new SparkLabs Mirae Silk Road Fund targets growth-stage AI startups ready to expand beyond Central Asian markets.
Updated on Sept. 21, 2026 in Startups
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Qazaqstan Investment Corporation, IT Park Ventures, Mirae Asset Venture Investment, and SparkLabs Group have launched the SparkLabs Mirae Silk Road Fund I LP. The venture fund currently holds $2 million in initial capital, with plans to potentially increase that total to $10 million.
Why it matters
This fund aims to provide capital for Series A and later-stage startups that possess the capability to scale their AI-native operations outside of their home regions. It emerged as part of broader commercial agreements between South Korea and Central Asian nations signed in Seoul.
The new vehicle represents a strategic addition to Qazaqstan Investment Corporation’s portfolio, which currently encompasses 19 funds with a combined capitalization of $2.8 billion. The fund is designed to support companies navigating the capital-intensive scale-up phase.
The players
Qazaqstan Investment Corporation
A state-backed investment entity that maintains a $2.8 billion portfolio across 19 different funds.
Mirae Asset Venture Investment
The venture capital arm of the Mirae Asset Financial Group, which manages $845 billion in total assets.
SparkLabs Group
A global startup accelerator and venture capital firm focused on early-to-growth stage technology investments.
IT Park Ventures
An investment firm focused on the Central Asian technology ecosystem that acts as an anchor investor.
Higgsfield
An AI-native startup that achieved a $1 billion valuation status in 2025.
The details
The fund will be managed by Mirae Asset Venture Investment and SparkLabs, leveraging their experience to identify AI-native firms in the region. Qazaqstan Investment Corporation and IT Park Ventures are serving as the anchor investors to support the goal of moving Central Asian startups into international markets. The architecture of the fund focuses specifically on Series A and later-stage companies that have moved past the research-only phase of their product lifecycle.
Timeline
The fund agreement was signed in Seoul during September 2026.
The article regarding the new fund launch was published on 2026-09-21.
Startups like Higgsfield achieved a $1 billion valuation in 2025.
The Tech Race
This fund launch follows the framework established by the $18.95 billion in commercial agreements between South Korea and Kazakhstan. It represents a targeted expansion of regional venture capital activity intended to compete with larger, globalized pools of growth-stage funding.
Founders operating Series A or later-stage AI companies within the Central Asian region will be the primary participants for this new capital. The fund aims to provide the necessary runway for these businesses to initiate their expansion efforts into markets outside of their home base.
The takeaway
The firm’s performance will be measured against its goal of successfully scaling Central Asian startups into international players. Observers should track IT Park Ventures’ future participation as an anchor limited partner in subsequent fundraising stages.
Further reading
For more on the trajectory of emerging market investment, visit our Startups section.
Source note: This article includes information reported by Crypto.
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