Azerbaijan drafts venture funding law and submits it to government

A bill on venture funding has been drafted in Azerbaijan and submitted to the government for review.

The announcement was made by Central Bank of Azerbaijan (CBA) Governor Taleh Kazimov during a meeting with economics.

The draft bill is currently in the coordination phase with relevant authorities.

The meeting also covered a wide range of financial and technological topics, including digital banking, cryptocurrency and venture market regulation, the status of draft laws on Virtual Assets and Venture Funding, cybersecurity in the banking sector, fraud involving bank cards, the regulation of online lending, and restrictions on foreign nationals’ access to banking data.

In 2022, the Caucasus Ventures fund was launched in Azerbaijan with the participation of the Innovation and Digital Development Agency, PASHA Holding, and individual investors with a charter capital of 11.3 million manats ($6.65 million).

In addition, two more venture funds were established in 2024: SABAH.fund with a capital of $25 million and INMerge Ventures with a capital of $4 million.