‘First Close’ of Uzbekistan private equity fund

Mar 31, 2020

‘First Close’ of Uzbekistan Private Equity Fund

Sturgeon Capital Ltd (‘Sturgeon’) announced today the ‘first close’ of their Uzbekistan Growth Equity Fund. Based on keen interest from investors, the team expects total capital commitments to reach the $35 million fundraising target by year-end 2020. Current investors in the Fund are a diverse group of leading global institutional investors. Internal capital committed to the Fund represents the most significant amount in Sturgeon’s history, underscoring the company’s level of conviction and alignment of interest with investors.

Kiyan Zandiyeh, Sturgeon’s CEO, said “We are pleased to have reached this milestone based on the ongoing strong support we have received from our investors. We have already deployed capital into several high-growth Uzbek businesses, and look forward to developing them into industry-leaders. Uzbekistan represents the greatest opportunity we have seen in our 14-year history, and we expect the country to provide a source of strong investment returns that are uncorrelated to broader emerging markets and developed countries.”

Sturgeon Capital Ltd

London-based Sturgeon Capital is a leading alternative investment manager which has been specialising in Frontier Markets for over 15 years. The investment team is highly experienced and includes some of the most seasoned PE investors in Uzbekistan, including Alijon Ravshanov (founding CEO of UzOmanCapital).

In recent years Sturgeon has refocused its team and resources to launch a Private Equity Fund that takes advantage of Uzbekistan’s rapid shift towards a free market economy. Sturgeon invests in tried-and-tested business models, and proven management teams, that have the potential to become industry leaders in their respective sectors. Sturgeon’s investors are made up of a diverse group of leading global institutional investors and high-net-worth individuals.