We assemble
institutional-grade
ventures before
capital arrives
A private structure for ventures incorporated or relocating to Uzbekistan and Central Asia – identifying, structuring, and scaling high-potential companies into institutional-grade assets, prepared for IPO or DPO – Digital Public Offering, the new path to capital markets.
WHAT WE DO
Four functions. One engine.
NUF operates as an execution engine across the full lifecycle of company formation and scale – focused on ventures based in or relocating to Uzbekistan and Central Asia. We do not invest – we structure, align, and deploy.
HOW WE WORK
From application to exit.
01
Application
Founders or sponsors submit projects through structured intake – early signal evaluation against pipeline thesis.
02
Screening
Initial diligence on team, market, model, and capital trajectory – conducted by the NUF core team.
03
Approval
Formal approval by NUF leadership – entry into the program, deal structure, and capital alignment plan.
04
Assembly Phase
Team completion, governance setup, model refinement, legal and capital structure preparation.
05
Capital Raise
SPV formation. Partner funds and strategic investors enter the project under engineered terms.
06
Scale Execution
Operational growth, market expansion, follow-on rounds – institutional readiness throughout.
07
Exit
IPO (traditional public market listing) or DPO (Digital Public Offering — regulated digital securities).
Path determined during the Forge based on maturity, asset structure, and capital markets readiness.
EXIT PATHS
Two structured paths to capital markets.
Every venture passes through the Forge with a defined capital market route. Path is determined during structuring based on company maturity, asset profile, and regulatory fit.
IPO Division · Traditional path
Initial Public Offering.
For mature companies with audited financials, scaled revenue, and institutional governance – prepared for public listing on major regional and international exchanges.
Market type
Traditional public market
Stage
More mature
Instrument
Shares · public listing
Primary goal
Large capital · valuation · liquidity
Exchanges
RSE Tashkent · LSE / Nasdaq / TSE (planned)
NUF role
IPO readiness coordination
DPO Division · New paradigm
Digital Public Offering.
For asset-backed or pre-IPO ventures where digital securities offer a more efficient capital path – structured for regulated digital exchanges with full compliance.
Market type
Regulated digital securities market
Stage
Pre-IPO or alternative path
Instrument
Digital securities
Primary goal
Alternative capital · digital liquidity
Exchanges
AIFC · Digital securities exchanges
NUF role
DPO readiness coordination
INVESTMENT MODEL
Deal-by-deal. Success-aligned.
NUF operates on a structured commission model. We earn through success fees on capital raised, with selective minority co-investment alongside partner funds. No pooled capital. No fund mechanics.
SPV
FEE
CO
Tier 1 · Engine
NATIONAL UNICORN FORGE
Selection, structuring, capital alignment – the assembly engine.
Tier 2 · Vehicle
SPV – Project-specific
Tier 3 · Operating Company
Portfolio Venture
First project
In the forge.
A fintech infrastructure platform – the first venture entering the NUF assembly process. Working through team completion, structural setup, and capital alignment toward institutional readiness.
Coming soon
Sector
Fintech infrastructure
Stage
TBD
Geography
TBD
Path
TBD
AUDIENCE
Who we work with.
NUF stands at the intersection of capital, founders, and operators. Each relationship structured for clarity and aligned outcomes.
FREQUENTLY ASKED
Common questions.
Is NUF a fund?
No. NUF is a venture assembly engine. We do not pool or manage investor capital. Each project is structured as a separate SPV – investors participate directly in the venture, not in a fund.
What's the difference between IPO and DPO tracks?
IPO Division prepares mature companies for traditional public market listing – equity shares on major exchanges (LSE, Nasdaq, TSE, RSE Tashkent). DPO Division (Digital Public Offering) handles regulated digital securities on AIFC and other licensed digital exchanges – suitable for pre-IPO, asset-backed, or alternative-path ventures. Path is determined during Forge based on company maturity, asset structure, and capital markets readiness.
How does the SPV structure work?
Each project enters its own Special Purpose Vehicle with a defined cap table, governance, and capital plan. Investors join the SPV directly under terms specific to that project. NUF may participate alongside investors through minority co-investment, separate from advisory fees.
What does NUF earn?
NUF earns through success-based commission on capital raised – structured per engagement based on deal size, complexity, and capital path – alongside selective minority co-investment in ventures we structure. We do not charge management fees on uninvested capital. Long-term upside comes through IPO or DPO listings of portfolio ventures.
Does NUF take equity in companies?
Selectively, yes – but as a minority co-investor alongside partner funds, not as the primary investor. NUF's primary revenue is structured commission on capital raised. Equity participation is opportunistic, transparent, and aligned with long-term portfolio outcomes.
What kinds of projects do you work with?
Fintech, financial infrastructure, scalable platforms with institutional growth potential. Pre-revenue to early-revenue stage where assembly creates measurable structural value. Each venture must be incorporated in Uzbekistan, or willing to relocate there as part of the assembly process – this is a structural requirement, not a preference.
Why Uzbekistan?
Uzbekistan offers a structured regulatory environment for fintech and capital markets activity, alongside active reforms aimed at attracting institutional investment. NUF operates under Uzbekistan jurisdiction and supports founders through incorporation, residency setup, and structural alignment with local frameworks where required.
How do funds engage?
Funds enter at the Capital Raise stage – after internal approval and structural assembly are complete. Direct participation in the SPV. Co-investment positions, lead positions, and strategic alignment all available depending on project structure.
What's the typical timeline from application to capital?
Screening: 2–4 weeks. Approval decision: 1–2 weeks. Assembly Phase: 8–16 weeks depending on scope. Capital Raise: 6–12 weeks following assembly. Total from application to first capital: typically 4–7 months.
Contact
Start the conversation.
Project submissions and partnership inquiries are reviewed on a deal-by-deal basis. We respond to all serious inquiries within five business days.