Agrobank launches $6.1M corporate venture fund for Uzbek startups
What's the deal? AgrobankDealroom has a profile for this one. Try Dealroom → has launched AgroVentures, a $6.1 million corporate venture fund established within the bank under a presidential decree dated March 13, 2026. It unveiled the fund at ICT Week Uzbekistan 2026, held September 22–25 in Tashkent. The move makes AgrobankDealroom has a profile for this one. Try Dealroom → one of the first banks in Uzbekistan to run its own venture investment vehicle.
What's the endgame? AgroVentures plans to back 60–75 companies and create more than 1,000 direct and indirect jobs. It targets a 2.5x–3x return on invested capital, an annual IRR above 25%, and 8–12 exits worth a projected $15–18 million.
Where the money goes: Capital will flow to early- and growth-stage startups, private equity in high-growth firms, Agrobank's own digital and fintech initiatives, and university research and IP. Cheques range from $25,000 to $500,000. AgriTech and AI/ML are the biggest focus areas, followed by fintech, with further bets on retail, HealthTech, EdTech, GreenTech, logistics, and deep tech.
Why now? The fund's first program is the AgroBank Corporate Accelerator, run with AI Station. The 12-week program will select up to 20 startups to run live pilots with Agrobank departments and SME clients, with mentoring, workshops, and a closing Demo Day.
The accelerator charges no fee and takes no equity or revenue share. Standout teams may win a partnership or white-label deal with Agrobank, or follow-on investment from AgroVentures. It is open to startups in any sector with a working MVP and early traction; applications close October 23, 2026.
"Agrobank has financed Uzbekistan's farmers and entrepreneurs for decades. With AgroVentures, we are also investing in the technology that will shape how they work," said Kakhorov Erkin, chairman of the management board. "We want the best founders in the country to see Agrobank as a partner, an investor, and their first large customer."
The signal: A state-linked lender turning itself into a venture investor points to Uzbekistan's push to build a domestic startup ecosystem, with banks moving beyond traditional financing into technology bets across the agro-industrial value chain.
Read more: tashkenttimes.uz
Image credit: JESHOOTS.com
