New venture capital company established in Azerbaijan via IDDA partnership

The Innovation and Digital Development Agency (IDDA) and venture fund White Hill Capital have signed a founding agreement to establish a new venture financing company in Azerbaijan.

According to Report, White Hill Capital has played a key role in scaling dozens of startups across Central Eurasia through its investment initiatives. The agreement, reached during the INMerge 2025 innovation summit, marks the expansion of the fund's operations into the Azerbaijani market.

Speaking at the signing ceremony, IDDA Chairman Farid Osmanov emphasized that the entry of a new foreign venture fund will accelerate the integration of Azerbaijani startups into the global innovation ecosystem.

White Hill Capital Managing Partner Aslan Sultanov noted that expanding into Azerbaijan will both strengthen the fund's investment portfolio with high-potential opportunities and diversify the local venture financing landscape.

The event concluded with presentations by Azerbaijani startup Push30 and Tajik startup Zypl - both beneficiaries of White Hill Capital's support. Representatives from the startups shared insights into the fund's financial backing model and highlighted its vital role in their growth and scalability.