30 June 2022,   20:16
Prime Minister meets Venture Capital Investment Fund Catapult VC founder and managing partner

Irakli Garibashvili, Prime Minister of Georgia met Jonathan Tower, Founder and Managing Partner of Catapult VC - a venture investment fund - today.

Meeting was focused on Catapult Georgia One - a first ever venture capital investment fund to be incorporated in Georgia with a portfolio of 50 MLN USD. It was also noted that it will support innovative start-ups and their quick expansion on the global market.

The Prime Minister of Georgia highlighted that the venture capital investment fund is yet another significant step towards transforming the country into a regional innovations hub. According to Irakli Garibashvili, it will have the full support of the Government of Georgia and the Innovations Agency of the country will be one of its key partners.

Discussion touched upon the significance of a more efficient development of innovations in the conditions of global competition. Focus was made on the success gained by Georgian start-ups and significant progress of the country towards creating start-ups of global potential was noted at the meeting.

Catapult is a venture capital investment fund, specialised in technical hubs beyond the silicon valley. Its investments reached 220 MLN USD in over 15 years in more than 100 companies.

Meeting held at the Government Administration of Georgia engaged Colin M. Donohue, Director of Startup Grind Tbilisi; Christopher Milton Barr, Co-Director of US Market Access Center; from the Georgian side - Natia Turnava, Minister of Economy and Sustainable Development of Georgia; Irakli Nadareishvili, Deputy Minister of Economy and Sustainable Development of Georgia; Avtandil Kasradze, Chairman of Innovations and Technologies Agency of Georgia.