"The first venture investment fund will start operating in Georgia," - Levan Davitashvili, Deputy Prime Minister and Minister of Economy and Sustainable Development of Georgia said on Monday at the briefing held after the meeting of the Government of Georgia.
It was noted that the development of innovative business has reached a level when global players take an interest in investing in the Georgian startup ecosystem. Georgia 500 is a 20-million-USD venture fund established by 500 Global to support and further develop investments in Georgian startups and innovations.
Notably, it will be a venture fund, in which, alongside the Government of Georgia, the private sector will also take part, namely the Innovation and Technology Agency will be the fund’s partner with a 5-million-USD investment.
