Business
Posted: 1 month ago

Government Becomes a Limited Partner in the $ 50 Million CATAPULT

Negotiations on the establishment of the first venture fund in Georgia are in the last phase, the final agreement will be made by June.

According to the negotiations, Catapult Georgia One will be represented as a state-limited partner. The goal is to get the fund interested in investing in Georgia.

According to the Deputy Minister of Economy, the negotiations are already being completed, which was a rather long and difficult process, due to the fact that this is the first time that such a fund is established in Georgia.

Let us remind you that the application for the establishment of the $ 50 million funds in Georgia was made in November last year, the priority of which was to invest in Georgian innovative startups that have the potential to enter global markets.

"We are already negotiating, it was quite a long and difficult process. This is the first time this type of fund is being established in Georgia and there were many nuances with the trial GP.

Jonathan Tower, the founder, and managing partner of Catapult VC will arrive in Tbilisi in June. By the time our negotiations are over, he will make a statement on the other statuses," said Irakli Nadareishvili, the Deputy Minister of Economy.