BAKU, Azerbaijan, Nov. 16
By Maryana Akhmedova – Trend:
Catapult venture capital platform will launch a fund for Georgia's innovative startups, Trend reports via the press service of the Georgian Government Administration.
Prime Minister of Georgia Irakli Garibashvili met with Jonathan Tower, the founder and managing partner of the Catapult VC to discuss more efficient innovations development of innovations amid the global competition.
According to the Georgian Government, The parties noted the success gained by Georgian start-ups and significant progress of the country towards creating start-ups of global potential.
Catapult Georgia One will be the first-ever venture capital investment fund to be incorporated in Georgia with a portfolio of $50 million, which will support innovative start-ups and their quick expansion on the global market, the statement said.
“We discussed the initiative to create a new investment fund in Georgia. We are great supporters of the Georgian ecosystem. We have been looking for a suitable place for a long time and we believe that now is an ideal time to invest in Georgia, to focus on new Georgian startups that can become globally competitive,” Jonathan Tower said after a meeting.
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