In order to thrive and survive, startups always require some decent support from the government and the investment community. Luckily, Azerbaijan is one of those countries where the startup culture is constantly on the rise.

The country has produced some amazing companies, and there are many startups to watch in Azerbaijan. However, the questions about the support from the investment community can be quite troublesome, especially if you are new to Azerbaijan’s startup landscape.

So, here’s an article featuring the list of the top 6 venture capital firms in Azerbaijan, along with their investment interests. 

Top 6 Venture Capital Firms in Azerbaijan 

Among the list of these VC firms, it is important to note that many of them support diverse investing strategies and sectors. So, try to conduct strong research and pitch in the best way to avoid any regrets later on.

Caucasus Ventures

Website: Caucasus.vc

Investor Type: Venture Capital Firm

Investment Interests: AI

Investment Stage: Early 

Caucasus Ventures was established in 2022 through collaboration between the Innovation and Digital Development Agency, PASHA Holding Group of companies, and individual investors. The firm seeks to invest in companies operating in various sectors, including financial technology, education technology, software as a service, cyber technology, consumer technology, gaming, and e-commerce.

Moreover, Caucasus Ventures has announced plans to invest $6.6 million in 50 projects over the next five years. They invest in startups depending on their market potential, team strength, scalability, and innovation.

Once a startup has been funded, Caucasus Ventures also provides it with additional mentorship and workshop programs. It is an active venture capital with a strong interest in boosting the entrepreneurial landscape of Azerbaijan.

The investment range of Caucasus Ventures is around $500,000. Some of their portfolio companies are:

MagicPort: MagicPort is a collaboration platform that is used in the maritime industry. It aims to provide essential information and tools for ship operations, ship suppliers, service providers, ship owners, managers, and seafarers.

TestedWeb: TestedWeb is an AI-verified online review platform that focuses on authentic and reliable reviews. It uses multiple data points to verify the authenticity of businesses listed on the platform. 

Tripsome: Tripsome is a startup that brings together unique entertainment hubs and activities on a single platform. Users can explore various fun and interesting activities through this platform. 

Khazar Ventures

Website: Khazar Ventures (vc.mk)

Investor Type: Venture Capital Firm

Investment Interests: Tech and Digitalization

Investment Stage: Early and Seed

Founded in 2013 by almost 10 angel investors, Khazar Ventures is also one of the prominent VC firms in Azerbaijan. The network has supported more than 50 startups since its inception and continues to boost growth in the travel and tech sector.

When funding startups, this firm follows a strict approach and only provides funding to startups that align with their requirements. Startups must have a decent ROI, a strong business model, and low competition ideas.

Once an idea has been accepted, there is no doubt that Khazar Ventures provides the best guidance through its growth events. The investment range of Khazar Ventures lies between $100,000 to $1M. Some of their portfolio companies are:

Paymes: Paymes is a financial technology development company that enables users to enter electronic commerce faster and easier. It serves commerce through social networks, allowing anyone to receive payments via social media in seconds. Paymes aims to simplify e-commerce for users regardless of age, device needs, language, or location.

Nextsale: Nextsale is a sales promotion platform that offers website sales with social proof and urgency. It allows users to create elegant booking pages, collect deposits, set automatic payment plans, and manage financials securely from anywhere in the world.

Ticketsetup: Ticketsetup provides a 360° ticketing solution for event organizers and venues. It allows businesses to create, sell, and control tickets, manage access via barcodes and QR codes, and generate real-time reports on events. 

Sup VC

Website: SUP.VC - Corporate Innovation

Investor Type: Venture Capital Firm

Investment Interests: Management Solutions

Investment Stage: Early

Sup VC is an active venture capital firm that was founded in 2015, by Mammad Karim, Nail Valiyev, and Vusal Karimli. The network has funded around 15 startups and is planning to extend its portfolio up to 20 startups this year.

Moreover, Sup VC offers capital and advisory services to startups, enabling them to grow and expand in the global market. They provide an intensive accelerator program that helps startups build their products and learn different practices applied in an international environment.

The investment range of SUP VC lies between $200,000 to $500,000. Among their portfolio, some notable investments include:

Nextsale: Nextsale is a sales promotion platform that offers website sales with social proof and urgency. The platform adds powerful testimonials, notifies visitors about how busy the website is, and encourages new visitors to purchase by showing them previous orders.  

Topla: Topla is a provider of operation management solutions for e-commerce businesses. It provides integration, automatic plug removal, order tracking, reporting, and return management solutions. Its mobile application is available on Android and iOS platforms.

Talent Port: Talent Port is a local platform aimed to link students and people with limited abilities with temporary jobs. The company offers internships, paid part-time jobs for students, and exclusive full-time job opportunities for top-skilled graduates

Infipro Venture Capital

Website: Infipro Inc. Venture Capital | About us

Investor Type: Venture Capital Firm

Investment Interests: Fintech and Digital Services

Investment Stage: Seed

Infipro Venture Capital is another prominent name in the VC community of Azerbaijan. The firm was founded in 2011 and has funded around 10 startups (most at the seed stage). They are headquartered in Baku and usually invest in tech-related businesses.

During the presentations, the investors at Infipro Venture Capital, highly prioritize innovation and fund-related startups. They emphasize the importance of new tech in the market and fund startup leaders with related ideas.

Similarly, Infipro Venture Capital has also been known to have portfolio companies attend international events where they meet with local teams, founders, and investors to discuss their opportunities. Their investment range is around $1M. 

Manads: Manads is a mobile advertising platform that provides advertisers with ad analytics and user feedback to measure the effectiveness of advertisements. It allows clients to conduct market surveys among users. It has secured a total funding of $100K in a Seed round.

Vital: Vital is an insurtech platform that personalizes health insurance coverage for each member. The company has raised a total funding of $3.8M.

MultiBon: MultiBon is a bonus cashback system integrated with a social network. Users can earn rewards from online and offline partners.

Golden Pay: Golden Pay is an online payment service provider. It offers an online payment system that helps with bank loans, payments, selling of cinema tickets, and insurance sales.

Relatively Fund

Website: RelativelyFund

Investor Type: Venture Capital Firm

Investment Interests: Tech

Investment Stage: Early 

Relatively Fund is a Startup Studio that builds, operates, and invests in the most ambitious entrepreneurs and inventors across the MENA region. With more than 15 years of tech experience, the firm finds the most deserving tech ideas and provides them with their required funding and assistance.

During the selection procedure, the investors prioritize innovation and growth. Startup leaders must be experienced and must have a qualified team to take their businesses to the next level. As for the funding, Relatively Fund invests in almost 6 startups every year and is known to be one of the most active investment funds in Azerbaijan.

The investment range of Relatively Fund is between $50,000 to $250,000. However, in some cases, It also depends on the type of startup and its growth potential.

Advent Venture Partners

Website: Advent International - leading global private equity investor

Investor Type: Venture Capital Firm

Investment Interests: Innovative Tech

Investment Stage: Early 

Advent Venture Partners is a venture capital firm and one of the biggest names operating in Europe. They focus on growth and venture capital investments in market-leading tech and life sciences businesses. The network has a portfolio of around 500 startups, operating in more than 40 countries.  

Advent Venture Partners only focuses on the most innovative businesses, having the lowest competition. And since the firm is headquartered outside Azerbaijan, startup leaders have to apply online and can appear for presentations in their regional offices.

The investment range of Advent Venture Partners is $500,000  as they are only making early-stage investments in Azerbaijan (currently). Notable companies in their portfolio are:

Skala: Skala is a supplier of technical services, processing equipment, and consumables for the food industry. It offers process design, engineering for food production, automation, and project management. Skala raised a total of $64.4K in funding.

myPOS: myPOS is a European payment service provider, offering mobile payment terminals and online payment solutions to small and medium businesses. It was acquired by Advent International for €500M on Nov 16, 2023.

Aareal Bank: Aareal Bank Group is a leading international provider of smart financing, software products, digital solutions, and payment transaction applications in the property sector and related industries. Aareal Bank has raised a total of €360M in funding.

Wrap-Up:

Even with the perfect piece of information, there is always room for some minor mistakes. So, how can you minimize these errors and maximize the chances of securing an investment?

Well, practice your presentation, check some good examples of a pitch deck, and if it’s your first time pitching to investors, don’t forget to watch some tutorials. 

Frequently Asked Questions