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White Hill Capital: We will help Azerbaijani startups enter foreign markets

29 September 2025 13:43 (UTC +04:00)

White Hill Capital venture fund will finance two categories of startups in Azerbaijan, Aslan Sultanov, managing partner of White Hill Capital venture fund, told journalists, APA-Economics reports.

He said that White Hill Capital is a $50 million Central Asian fund specializing in the expansion of startups from Central Asia to the Middle East and North Africa region: "Today, we have completed a project to create an investment vehicle together with the Innovation and Digital Development Agency (IDIA). IDIA will invest a certain amount of money. We will add two dollars to every dollar and finance two categories of startups with this vehicle."

A. Sultanov noted that the first is mainly Azerbaijani-based startups: "They want to expand first to Central Asia, then to the UAE, Qatar and other countries. The second is to finance any companies that want to enter the Azerbaijani market, establish a company, hire people and pay taxes. We believe that through this we will be able to create a successful roadmap for Azerbaijani startups that want to expand." He said that companies that quickly exit local markets gain an advantage in terms of capitalization growth: "We also plan to do this. So, we will look for projects, consider them and hopefully invest. Even today we have already announced investments in two companies - "Clopos" and "Receptor". Each will be given 150 thousand US dollars. We will help them expand beyond Azerbaijan, enter the acceleration program that we are implementing in Dubai."