SparkLabs and Mirae Asset Launch $50 Million Fund for Central Asian AI Startups

The new venture fund signals growing investor confidence in Central Asia’s emerging AI ecosystem, with a focus on Series A and later-stage companies.

If you’re building AI agents or hardware-focused AI solutions in Central Asia, there’s fresh capital available.

SparkLabs, the global accelerator network, and Mirae Asset, the South Korean financial giant, have teamed up to launch a $50 million venture fund targeting startups in Kazakhstan, Uzbekistan, and neighboring markets.

The fund will prioritize AI companies that have moved beyond seed stage, specifically those raising Series A or later rounds according to Pulse 2.0.

Why Central Asia?

The region has seen a quiet but steady rise in AI talent, partly due to government-backed tech initiatives and a growing pool of engineers returning from abroad.

Kazakhstan, for example, has been investing heavily in AI education through partnerships with universities in Europe and Asia as noted by Dealroom.

SparkLabs, which already runs accelerators in Seoul and Taipei, sees untapped potential in local startups solving regional problems—like multilingual AI for Central Asia’s diverse languages or logistics optimization for cross-border trade.

What the Fund Looks For

The SparkLabs-Mirae Asset fund isn’t writing small checks. It’s hunting for:

• AI agents with proven traction in enterprise or consumer markets
• Hardware-integrated AI, such as robotics or IoT devices (a sector gaining momentum globally, per MISUMI Americas’ recent fund launch)
• Startups with revenue or clear monetization paths, avoiding pre-revenue bets

This aligns with a broader trend of venture funds shifting toward later-stage investments in AI, as seen with Project Ventures’ £5M deeptech fund for Imperial College London spinouts.

How to Apply

SparkLabs hasn’t published formal application guidelines yet, but here’s what we know:

1. The fund is sector-agnostic within AI, though enterprise solutions may have an edge.
2. Teams should have a presence in Central Asia, even if incorporated elsewhere.
3. Expect due diligence to focus on unit economics—this isn’t a “growth at all costs” fund.

For founders outside the region, the message is clear: Central Asia’s AI scene is maturing, and investors are taking notice. If you’re working on AI agents with cross-border applications, explore the directory to see how your project stacks up.