Transformative Investing in Frontier Markets


Sturgeon has invested in Central Asia for 15 years


Our companies have an addressable market of 400m people


We only consider companies capable of generating +40% IRRs


We maintain active board representation on 100% of our companies

Central Asia Investment Pioneers

Sturgeon Capital has invested in extraordinary businesses across Central Asia and the Caucasus region for over 15 years.

Focus: Uzbekistan Growth Equity Fund

The world’s first private investment fund focused in Uzbekistan, a country primed for high growth after recent liberalisation and economic reforms. With 15 years experience in the region and with an in-country team, Sturgeon is committed to a data-driven investment process that involves partnering with future industry-leading businesses to leverage the region’s unique growth dynamics to achieve profitability and impact.

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An experienced investment team with over 15 years experience investing in Central Asia & the Caucasus region, with unparalleled local knowledge and support network.

Ground breaking Private Equity in Uzbekistan Audio & Video (34:15 listen)

bne IntelliNews editor-in-chief Ben Aris talks to Kiyan Zandiyeh and Alex Branton, investment managers at Sturgeon that has been working in the region since the early days about the progress the country has made and where the opportunities lie.

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An introduction to Sturgeon’s impact investing approach Insights

In this edition of Sturgeon Insights, the team introduce their data-driven approach to impact investing. The central premise of the team’s rigorous impact framework is that investing in innovative, technology-enabled companies that create private-sector jobs can generate long-term sustainable social impact and superior financial returns for investors.

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A ‘new economy’ approach to frontier market investing Insights

In this edition of Sturgeon Insights, the team write about how the emergence of cheaper forms of technology and increased levels of connectivity have transformed the nature of investing in frontier markets.

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