Recent news

Attention of trustee of investment assets and commercial banks!

The State Assets Management Agency of the Republic of Uzbekistan announces the tender for the transfer of the state share in the authorized capital of «UzVC National Venture Fund» LLC to trust management.

In accordance with the decree of the Cabinet of Ministers of the Republic of Uzbekistan dated 16.10.2006 No. 215 “On measures to ensure effective management of enterprises with a state share in the authorized capital and proper accounting of state property”, dated 03.11. No. 684 “On measures to organize the activities of the National Venture Fund" UzVC”, as well as in accordance by the Decree of the President of the Republic of Uzbekistan dated November 24, 2018. No.5583 “On additional measures to improve financing mechanisms for projects in the field of entrepreneurship and innovation” will be held the tender.on May 11, 2021 year.

Private management companies without a state share in the authorized capital have the right to participate in the competition in accordance with the procedure established by the legislation on public procurement.

One of the main conditions for choosing a management company is to attract funds from the private sector, equal to the amount of resources allocated by UzVC National Venture Fund LLC for financing venture projects from centralized sources (in the amount of 15.0 billion uzbek soums)

To participate in the competition, the applicant must provide to the State Assets Management Agency the following documents:

  • general information about the management company (passport);
  • a memorandum (report) from the management company is required;
  • application for participation in the tender for the transfer to trust management of state shares and shares in the authorized capital of business entities;
  • fiduciary business plan (placed in an opaque (invisible) envelope and stamped by the applicant);
  • information about the applicant;
  • a copy of state registration documents, copies of the company's Charter and amendments to it (provided once);
  • a copy of the balance sheet approved by the bidder for the last reporting period and the last year with a note of acceptance by the bidder in the tax office (if the management company is a micro-company, the balance for the last year is provided);
  • a certificate from the tax office confirming the absence of debts to the budget, extra-budgetary payments and labor arrears as of the date of application;
  • copy of the auditor's report on financial statements for the last reporting period and the last year (for non-residents of the Republic of Uzbekistan);
  • information about the applicant's experience in this area and experience in the field of securities management;

The applicant's business plan should include the following main areas:

  • analysis of the current state of the enterprise highlighting the strengths and weaknesses of the enterprise;
  • market research (networks);
  • net profit forecast (for three years);

Fiduciary management program for:

- representing the interests of the state as a shareholder (participant);

- determination of the enterprise development strategy;

- ensuring the safety (integrity) and rational use of the property of the enterprise;

- increasing production efficiency, improving the financial and economic activities of the enterprise, preventing the occurrence of mandatory payments to the state budget and wage arrears;

- implementation and improvement of corporate governance at the enterprise;

- ensuring the rational use of the company's net profit by paying dividends or directing it to the development of production;

- other obligations and plans taking into account the interests of the state.

Within the framework of the competition, state blocks of shares (stakes) of several business entities may be transferred to trust management to one applicant at a time. The fiduciary business plan should be sealed in a separate envelope for each business.

Applications are accepted until 4:00 pm Tashkent time on May 10, 2021 in the building of the State Assets Management Agency.

The address of the State Assets Management Agency: Tashkent city, st. Amir Temur 6, postal code - 100000,

Phones – (+998-71) 259-21-47, (+998-71) 259-20-47, (+998-95)-500-09-19

General information about management company (passport)          Date:                   .

Full name of the Firm or Business Unit that is Fundraising:


Address                                               Street:                                         






Postal code:


Phone number:


Regulatory Body(s) that Supervises Firm:



Regulatory Body(s) Registration Number(s):

Registration documents, licenses and certificates provided by the regulatory body must be submitted



Firm Contact (for requesting additional information):


Full name:  




Phone number:


e-mail address:



Fund SizeUZS 10-15B



Fund Term:


Investment Period:                            

Follow-on period:                                  

Extension period:                                  

Management Fees (%):

(% of basis)


Investment Period:      %of            

Follow-on Period:    _ %of           

Extension Period:      %of           



Misc. Terms:

Reporting currency:                                 

Hurdle rate:                             %

IRR:                                 %

Cash on cash (C-o-C):                               %

Carried interest:                               %

GP commitment:                           50%

or the management company itself should attract other LP investors to the fund, whose share should be equal to the funds allocated by the “UzVC” national venture fund

Инвестиционный фокус

Strategic Focus:  __                                      

Geographic Focus: The Republic of Uzbekistan

Industry Focus:  _____                                     


Required private placement memorandum (PPM) from management company

Private placement memorandum (PPM) 

Executive summary. Why should UzVC choose you as a managing company? (3-4 pages)

● Market opportunity

● Background, history, and performance of the firm 

● Management team 

● Investment focus areas 

● Summary of terms

Investment strategy and market opportunity (4-5 pages)

Investment process (3-4 pages)

Organization and management team
(4-5 pages)

Selected transactions/investment summary

Investment terms (5-10 pages)

Risk and regulatory considerations
(10 pages)