Catapult Georgia and GITA Form Partnership Agreement

The Georgian Innovation and Technology Agency and Catapult Georgia formed a partnership agreement, according to which Catapult Georgia will invest $50 million in Georgian technology and innovation startups.

GITA will also allocate $5 million in the fund, in order to promote the development of Georgian startups in global markets.

The presentation of Catapult Ventures, one of the leading Silicon Valley venture funds, was held in Tbilisi.

The founder of Catapult, Jonathan Tower introduced company's plans to the audience. The fund will help Georgian startups in their early stage financing, and willl promote them in order to enter international market as well as attract large American investors.

Catapult focuses single-mindedly on companies that have the ability to become dominant platform companies. And with their network of relationships and with assets in multiple geographies, the company's mission is to help those companies achieve global scale.