Discover if this is a suitable investor for your startup. If they are we'll make a warm introduction for free. Otherwise, we'll connect you with matching investors.
White Hill Capital is a prominent venture capital firm based in Astana, Kazakhstan, founded in 2021. The firm operates the Tumar Venture Fund, which has an initial size of $20 million and aims to support early-stage technology startups primarily in Kazakhstan and Central Asia. White Hill Capital leverages partnerships with international organizations, including the World Bank, to enhance its investment capacity and impact.
The firm has established itself as a key player in the region's venture capital landscape, frequently cited alongside government-backed innovation programs. White Hill Capital's ambition is to catalyze innovation by bridging local talent with Gulf capital and markets, positioning itself as a leading institutional VC in Central Asia.
As of March 2025, White Hill Capital has deployed approximately $10 million across its portfolio, with plans to expand its fund size to $30-35 million. The firm is actively involved in fostering a vibrant startup ecosystem, focusing on sectors such as EdTech, AI, fintech, healthcare, and commerce.
White Hill Capital primarily invests in pre-seed, seed, and Series A stages, targeting startups with a working product. The firm focuses on sectors including EdTech, AI, fintech, healthcare, and commerce, emphasizing support for local entrepreneurs in Kazakhstan and Central Asia. The average check size ranges from $300,000 to $1 million, with a strong preference for companies that demonstrate innovative solutions and growth potential.
The firm’s investment strategy is designed to enhance the growth potential of its portfolio companies by providing strategic support, mentorship, and access to networks. White Hill Capital aims to facilitate connections with Gulf markets, leveraging its extensive experience in the region to maximize the impact of its investments.
White Hill Capital's thesis centers on catalyzing innovation in Kazakhstan and Central Asia by investing in early-stage technology startups. The firm seeks to bridge local talent with Gulf capital and markets, positioning itself as a vital link in the regional startup ecosystem.
White Hill Capital's portfolio includes a diverse range of innovative companies, showcasing its commitment to supporting early-stage technology startups. Key portfolio companies include:
Approximately 70% of the portfolio consists of Kazakhstani founders, while 30% includes projects from other Central Asian countries. The firm has invested in a total of 14 companies, reflecting its broad focus across various sectors.
Aslan Sultanov: Founder & Managing Partner. Aslan leads all investment and expansion decisions at White Hill Capital. He has been actively quoted in Central Asian tech press and has over 20 years of combined investment experience in local and global markets.
Startups looking to pitch White Hill Capital should prepare a concise pitch deck that includes key information about their business model, market opportunity, and growth strategy. A warm introduction is preferred, but cold outreach is also accepted. Founders can expect a response within a few weeks, depending on the volume of inquiries.
As of March 2025, White Hill Capital has deployed approximately $10 million across its portfolio, with plans to target 5-6 new deals in 2025. The firm has also announced plans for two exits in 2025, with CodiPlay and ZYPL.AI both raising follow-on rounds. In June 2023, White Hill Capital led a $2 million seed round for CodiPlay, which has since achieved a valuation of $100 million.
Additionally, White Hill Capital announced a $5 million venture fund in October 2024, in partnership with Tajinvest, focused on supporting IT startups in Tajikistan. This expansion reflects the firm's commitment to fostering innovation across Central Asia.
What stages does White Hill Capital invest in?
White Hill Capital invests primarily in pre-seed, seed, and Series A stages, focusing on startups with a working product.
What is the typical check size for investments?
The firm typically writes checks ranging from $300,000 to $1 million, depending on the startup's needs and growth potential.
What sectors does White Hill Capital focus on?
White Hill Capital focuses on several sectors, including EdTech, AI, fintech, healthcare, and commerce, aiming to support innovative solutions in these areas.
How can startups apply for funding from White Hill Capital?
Startups interested in funding should prepare a pitch deck that outlines their business model, market opportunity, and growth strategy. A warm introduction is preferred, but cold outreach is also accepted.
What kind of support does White Hill Capital provide to portfolio companies?
The firm offers strategic support through mentorship, access to networks, and partnerships with key industry players, enhancing the growth potential of its investments.
What is the expected return on investment for White Hill Capital?
White Hill Capital aims for expected returns of 5-7X per investment, reflecting its commitment to supporting high-growth startups in the region.
All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.