New Delhi, May 3 -- Central Asia's venture capital ecosystem reached a record USD 320 million in funding in 2025, but sustaining growth will require closing a USD 0.5 to 1.1 billion annual capital gap and expanding the pipeline of investable startups, according to RISE Research's latest regional overview.

The record year was largely driven by two landmark deals--Higgsfield's USD 130 million Series A and Uzum's USD 65.5 million round--which together accounted for 61 per cent of total funding.

Excluding these outliers, the adjusted market volume stood at USD 124.5 million, reflecting steady organic growth of 31 per cent compared to 2024's USD 95 million. Kazakhstan led with USD 71 million, followed by Uzbekistan at USD 99 million, while K...