• Our portfolio companies offer a product or service which solves an unserved, acute pain point in the economy.

Example portfolio companies

Zoodmall: The largest cross-border eCommerce platform in Central Asia.
ZoodPay: Payment solution for online customers to buy local and cross-border items. The service targets customers across Central Asia and the Middle East.
Finmedia: FinTech business providing airtime advance, digital content and mobile financial services.
Inspiring Development Microfinance Institution: Leading microfinance institution serving MSMEs in Uzbekistan.
Billz: SaaS enterprise software platform and ecosystem for SME retailers in Uzbekistan.
Smart Satu: A unique platform automating B2B and B2C relationships for retailers and distributors in the global FMCG market.
Arzon Apteka: A pharmaceuticals software company serving the entire value chain of distributors, pharmacies and consumers in Uzbekistan.
Zip24: An on-demand software or “Software-as-a-Service” (SaaS) startup that streamlines operations management functionalities for e-commerce businesses.
PeopleForce: HRM software for SMEs
Payze: Building the “Stripe” of the former Soviet Union.
Finmap: Cash flow management software
Datacultr: Smartphone software allowing the provision of affordable financial products to the unbanked.

Why does this opportunity exist?


Our investment strategy ensures we only invest in companies that benefit from the localisation of their service or product, which in turn makes it difficult for international companies to compete.

First mover

Our portfolio embraces innovators. Each of our investments are made in companies that are pushing the boundaries of their own particular niche, capitalising on first mover advantage in that region.

Limited capacity

The limited capacity of our Funds is dictated by the current opportunity set. We are not looking for large ‘unicorns’ – with the associated low hit rate. We are looking to >5x ‘smaller’ companies (sweet spot is $2m-$5m) in a sustainable manner with a high hit rate.

Investing for profit and impact

Our portfolio companies are not solely focused on growth and financial returns: they consider impact a central goal from the start, a stance that is reflected in the problems they are tackling as well as the customers they serve.

Find out more


We aim to support 500k jobs through the companies in Fund 2


We only consider companies capable of generating a minimum 5x return

5x to 7x

The private investments in Fund 1 – made in 2017 – have already generated returns between 5x-7x.


We maintain active board representation on 100% of our companies


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