Top 14 Leading Venture Capital Firms in Baku in 2025
Baku is emerging as a bold new destination for early-stage innovation. In 2025, the capital of Azerbaijan is no longer just a regional hub — it's attracting global attention thanks to its growing pool of talent, favorable regulatory changes, and strategic location connecting Europe, Central Asia, and the Middle East.
At the center of this momentum are venture capital firms in Baku offering not just capital, but mentorship and international reach. Whether you're building in fintech, logistics, SaaS, or deep tech, this guide will help you find the right investor.
We'll also include related search terms like VC in Baku and investors in Baku to make discovery easier for founders.
Quick list of top venture capital firms in Baku
- Caucasus Ventures – Public–private early-stage VC firm backing tech entrepreneurs
- Sabah Fund – Seed and pre-seed fund connected to leading Azerbaijani university incubators
- PASHA Investments – Diversified group investing in fintech, infrastructure, and innovation
- INMerge Venture Fund – Baku-based VC supporting software and platform startups
- Caspian Venture Capital – Backing scalable ventures in logistics, media, and IT
- Genezi VC – Pre-seed and seed investor focused on Azerbaijani and CIS startups
- Khazar Ventures – Regional fund supporting early-stage innovation
- NextStep Ventures – VC and accelerator focused on social impact and sustainable ventures
- IDDA Venture Fund – Government initiative investing in high-growth technology startups
- Azerbaijan Investment Company – Sovereign fund supporting strategic private sector development
- Sup VC – New-age micro VC supporting consumer tech
- Khazar Angels – Angel syndicate supporting pre-seed innovation
- Caspian International Investment Company – Focused on long-term private equity and growth
- Capital Partners Investment Company – Private investment firm with venture and PE arms
How to find the right VC firm in Baku
With a mix of sovereign-backed funds, operator-led firms, and mission-driven accelerators, choosing the right VC in Baku is all about alignment.
Ask yourself:
- Are they stage-aligned? Most funds focus on pre-seed or seed rounds
- Do they have a regional focus? Some focus solely on Azerbaijan, others cover CIS and MENA
- What's their check size and involvement?
- Do they offer strategic support or just capital?
- How quickly do they decide?
To narrow your search, use Papermark's Investor Database and filter by check size, geography, and sector.
How to send your pitch deck to VC firms in Baku
To stand out in the inbox of an investor in Baku, you need more than a PDF attachment — you need insights and delivery.
Here's how to pitch smarter with Papermark:
- Avoid attachments: Static decks get lost
- Use trackable links: Send via Papermark to see who's reading
- Localize: Emphasize your relevance to the region
- Lead with clarity: Show traction, team, market, and monetization
- Follow up strategically: Use engagement data from your deck
Why use a pitch deck link instead of attachments?
- Get notified when an accelerator team opens your deck
- Track how long they were on each page of your deck
- Capture emails of those who viewed your deck
- Protect your IP using watermark, screenshot protection and other link permissions
- Securely send data room with multiple documents
Table
| Accelerator | Location | Investment Size | Program Length | Focus Areas | Success Rate |
|---|---|---|---|---|---|
| Caucasus Ventures | Baku, Azerbaijan | $100 K – $1 M | Long‑term | Early‑stage tech, Regional founders | — |
| Sabah Fund | Baku, Azerbaijan | $25 K – $200 K | Long‑term | Pre‑seed, University spin‑outs | — |
| PASHA Investments | Baku, Azerbaijan | $1 M – $10 M | Long‑term | Fintech, Infrastructure, Innovation | — |
| INMerge Venture Fund | Baku, Azerbaijan | $100 K – $2 M | Long‑term | Software, Platforms | — |
| Caspian Venture Capital | Baku, Azerbaijan | $250 K – $5 M | Long‑term | Logistics, Media, IT | — |
| Genezi VC | Baku, Azerbaijan | $50 K – $500 K | Long‑term | Azerbaijan & CIS pre‑seed/seed | — |
| Khazar Ventures | Baku, Azerbaijan | $100 K – $500 K | Long‑term | Regional early‑stage innovation | — |
| NextStep Ventures | Baku, Azerbaijan | $50 K – $300 K | Long‑term | Social impact, Sustainability | — |
| IDDA Venture Fund | Baku, Azerbaijan | $500 K – $5 M | Long‑term | High‑growth tech, Government‑backed | — |
| Azerbaijan Investment Company | Baku, Azerbaijan | $1 M – $20 M | Long‑term | Strategic sectors, Sovereign fund | — |
| Sup VC | Baku, Azerbaijan | $50 K – $250 K | Long‑term | Consumer tech, Micro VC | — |
| Khazar Angels | Baku, Azerbaijan | $20 K – $150 K | Long‑term | Angel syndicate, Pre‑seed | — |
| Caspian International Investment Company | Baku, Azerbaijan | $2 M – $15 M | Long‑term | Private equity, Growth capital | — |
| Capital Partners Investment Company | Baku, Azerbaijan | $1 M – $10 M | Long‑term | Venture & PE, Diversified | — |
1. Caucasus Ventures
Public‑private early‑stage VC firm backing tech entrepreneurs.
- Focus: Early‑stage tech, Regional founders
- Location: Baku, Azerbaijan
- Program length: Long‑term partnership
- Investment: $100 K – $1 M seed/Series A
- Equity free: No
- Website: caucasus.vc
2. Sabah Fund
Seed vehicle linked to leading Azerbaijani university incubators.
- Focus: University spin‑outs, Pre‑seed tech
- Location: Baku, Azerbaijan
- Program length: Long‑term partnership
- Investment: $25 K – $200 K pre‑seed/seed
- Equity free: No
- Website: sabahhub.com/fund
3. PASHA Investments
Diversified group investing in fintech, infrastructure, and innovation.
- Focus: Fintech, Infrastructure, Innovation
- Location: Baku, Azerbaijan
- Program length: Long‑term partnership
- Investment: $1 M – $10 M growth equity
- Equity free: No
- Website: pashainvestments.az
4. INMerge Venture Fund
Baku‑based VC supporting software and platform startups.
- Focus: SaaS, Platforms, Enterprise software
- Location: Baku, Azerbaijan
- Program length: Long‑term partnership
- Investment: $100 K – $2 M seed/Series A
- Equity free: No
- Website: inmerge.az
5. Caspian Venture Capital
Backing scalable ventures in logistics, media, and IT.
- Focus: Logistics, Media, IT services
- Location: Baku, Azerbaijan
- Program length: Long‑term partnership
- Investment: $250 K – $5 M seed/Series A
- Equity free: No
- Website: caspianvc.com
6. Genezi VC
Pre‑seed and seed investor focused on Azerbaijani & CIS startups.
- Focus: Web 3, SaaS, Regional seed
- Location: Baku, Azerbaijan
- Program length: Long‑term partnership
- Investment: $50 K – $500 K seed
- Equity free: No
- Website: genezi.io
7. Khazar Ventures
Regional fund supporting early‑stage innovation.
- Focus: Early‑stage innovation, Regional tech
- Location: Baku, Azerbaijan
- Program length: Long‑term partnership
- Investment: $100 K – $500 K seed
- Equity free: No
- Website: khazarventures.com
8. NextStep Ventures
VC & accelerator focused on social impact and sustainable ventures.
- Focus: Social impact, Sustainability
- Location: Baku, Azerbaijan
- Program length: Long‑term partnership
- Investment: $50 K – $300 K seed
- Equity free: No
9. IDDA Venture Fund
Government initiative investing in high‑growth technology startups.
- Focus: High‑growth tech, Gov‑backed
- Location: Baku, Azerbaijan
- Program length: Long‑term partnership
- Investment: $500 K – $5 M seed/Series A
- Equity free: No
10. Azerbaijan Investment Company
Sovereign fund supporting strategic private‑sector development.
- Focus: Strategic sectors, Industrial growth
- Location: Baku, Azerbaijan
- Program length: Long‑term partnership
- Investment: $1 M – $20 M growth equity
- Equity free: No
- Website: aic.az
11. Sup VC
New‑age micro‑VC supporting consumer tech.
- Focus: Consumer tech, Digital lifestyle
- Location: Baku, Azerbaijan
- Program length: Long‑term partnership
- Investment: $50 K – $250 K pre‑seed/seed
- Equity free: No
- Website: sup.vc
12. Khazar Angels
Angel syndicate supporting pre‑seed innovation.
- Focus: Angel syndicate, Pre‑seed innovation
- Location: Baku, Azerbaijan
- Program length: Long‑term partnership
- Investment: $20 K – $150 K angel cheques
- Equity free: No
- Website: khazarventures.com
13. Caspian International Investment Company
Focused on long‑term private‑equity and growth.
- Focus: Private‑equity, Growth capital
- Location: Baku, Azerbaijan
- Program length: Long‑term partnership
- Investment: $2 M – $15 M growth/PE
- Equity free: No
- Website: ciic.az
14. Capital Partners Investment Company
Private investment firm with venture and PE arms.
- Focus: Venture & PE, Diversified sectors
- Location: Baku, Azerbaijan
- Program length: Long‑term partnership
- Investment: $1 M – $10 M Series A/B
- Equity free: No
- Website: capitalpartners.az
Prepare for Demo Day: what Baku investors expect
Demo Day or your first meeting with a VC in Baku is your chance to show you're not just building — you're building smart.
Here's what investors in Baku care about:
- Local market validation or international relevance
- Strong founder-market fit
- Sustainable traction or strong roadmap
- Your plan for deployment of capital
- Signals of resilience and regional growth
Use Papermark to follow up with real-time data and tailored messaging.
Didn't find the right investor?
Browse 7,000+ global investors by sector, geography, and check size in Papermark's investor database.
Final Thoughts
Baku's venture capital scene is still young — but growing fast. With government-backed funds, private players, and a new wave of regional startups, there's no better time to build in Azerbaijan.
With the right strategy — and the right tools like Papermark — founders can pitch smarter and close faster.