# Investors based in Azerbaijan (2026 list) > 40 investors based in Azerbaijan, 3% active in the last 12 months. Led by Caucasus Ventures, Infipro Inc, QU TechnoPark. Ranked by what they funded. Source: https://millionrounds.com/lists/investors-based-in-azerbaijan (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Investors based in Azerbaijan Updated 7 November 2026 Firms headquartered in Azerbaijan, ordered by what we have observed them do rather than by what they claim to invest in. Where a firm sits is not where it invests; for that, see investors in Azerbaijan. [See all 40 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Finvestors-based-in-azerbaijan)The top 25 **40** investors on the list No change this week **1** cheques in 12 months Too few cheques to tell **$100K** median round they joined *-99%* against the market median **3%** wrote a cheque in 12 months **0%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (1) - 1 [Caucasus Ventures](https://millionrounds.com/fund/caucasus-ventures) *Deploying now* VC firm · Azerbaijan **1** **$2.5M** median round **Apr 2026** last seen - 2 [Infipro Inc](https://millionrounds.com/fund/infipro-inc) quiet VC firm · Azerbaijan **1** **$100K** median round **Mar 2013** last seen - 3 [QU TechnoPark](https://millionrounds.com/fund/qu-technopark) quiet VC firm · Azerbaijan **1** **$12K** median round **May 2014** last seen - 4 [AIH](https://millionrounds.com/fund/aih) unknown Institutional LP · Azerbaijan **none observed** **-** median round **-** last seen - 5 [Allin Fund](https://millionrounds.com/fund/allin-fund) unknown Investment firm · Azerbaijan **none observed** **-** median round **-** last seen - 6 [Azerbaijan Deposit Insurance Fund](https://millionrounds.com/fund/azerbaijan-deposits-insurance-fund) unknown Investment firm · Azerbaijan **none observed** **-** median round **-** last seen - 7 [BackupVC](https://millionrounds.com/fund/backupvc) unknown VC firm · Azerbaijan **none observed** **-** median round **-** last seen - 8 [Genezi](https://millionrounds.com/fund/genezi) unknown Investment firm · Azerbaijan **none observed** **-** median round **-** last seen - 9 [HBDC](https://millionrounds.com/fund/hbdc) unknown Private equity · Azerbaijan **none observed** **-** median round **-** last seen - 10 [Hubble l VENTURE STUDIO](https://millionrounds.com/fund/hubble-l-venture-studio) unknown VC firm · Azerbaijan **none observed** **-** median round **-** last seen - 11 [INMerge Ventures](https://millionrounds.com/fund/inmerge-ventures) unknown VC firm · Azerbaijan **none observed** **-** median round **-** last seen - 12 [Integrity Group](https://millionrounds.com/fund/integrity-group) unknown Investment firm · Azerbaijan **none observed** **-** median round **-** last seen - 13 [International Eurasia Press Fund (IEPF)](https://millionrounds.com/fund/international-eurasia-press-fund-iepf) unknown Investment firm · Azerbaijan **none observed** **-** median round **-** last seen - 14 [Khazar](https://millionrounds.com/fund/khazar) unknown VC firm · Azerbaijan **none observed** **-** median round **-** last seen - 15 [Lotfi Zadeh Technology Center (LTC)](https://millionrounds.com/fund/lotfizadeh-technol) unknown Accelerator · Azerbaijan **none observed** **-** median round **-** last seen - 16 [Moonwake Investment LLC](https://millionrounds.com/fund/moonwake-investment-llc) unknown Private equity · Azerbaijan **none observed** **-** median round **-** last seen - 17 [NEXT STEP Angel Network](https://millionrounds.com/fund/next-step-angel-network) unknown Angel network · Azerbaijan **none observed** **-** median round **-** last seen - 18 [NewSpace Business Accelerator](https://millionrounds.com/fund/newspace-business-accelerator) unknown Accelerator · Azerbaijan **none observed** **-** median round **-** last seen - 19 [Next Step Innovation and Incubation Center](https://millionrounds.com/fund/next-step-innovation-and-incubation-center) unknown Incubator · Azerbaijan **none observed** **-** median round **-** last seen - 20 [PASHA Capital](https://millionrounds.com/fund/pasha-capital) unknown Fund of funds · Azerbaijan **none observed** **-** median round **-** last seen - 21 [PASHA Holding LLC](https://millionrounds.com/fund/pasha-holding-llc) unknown Company · Azerbaijan **none observed** **-** median round **-** last seen - 22 [PASHA Investments LLC](https://millionrounds.com/fund/pasha-investments-llc) unknown Private equity · Azerbaijan **none observed** **-** median round **-** last seen - 23 [PASHA Ventures Company](https://millionrounds.com/fund/pasha-ventures-company) unknown Company · Azerbaijan **none observed** **-** median round **-** last seen - 24 [Plato Capital & Co. Investment Company OJSC](https://millionrounds.com/fund/plato-capital-and-co-investment-company-ojsc) unknown Investment firm · Azerbaijan **none observed** **-** median round **-** last seen - 25 [Republic Innovation Challenge](https://millionrounds.com/fund/republic-innovation-challenge) unknown Investment firm · Azerbaijan **none observed** **-** median round **-** last seen **15 more on this list** All 40 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Finvestors-based-in-azerbaijan) ## The Newest Cheques Rounds this list's investors joined most recently - **13** Apr **[Replenit](https://millionrounds.com/company/replenit)** Pre-seed · $2.5M *With* [Caucasus Ventures](https://millionrounds.com/fund/caucasus-ventures) ## Stages This Year 1 rounds - Pre-seed **100%** ## What They Backed Sectors, last 12 months - AI **1** - E-commerce **1** - Retail **1** ## Cheques by Quarter Led Joined Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 1 Q2 26 Q3 26 Q4 26 The last bar is the quarter still running. ## Lists Like This - [Investors based in United States 73,439](https://millionrounds.com/lists/investors-based-in-united-states) - [Investors based in United Kingdom 8,136](https://millionrounds.com/lists/investors-based-in-united-kingdom) - [Investors based in Canada 3,879](https://millionrounds.com/lists/investors-based-in-canada) - [Investors based in India 3,865](https://millionrounds.com/lists/investors-based-in-india) - [Investors based in Germany 3,455](https://millionrounds.com/lists/investors-based-in-germany) - [Investors based in China 3,027](https://millionrounds.com/lists/investors-based-in-china) - [Investors based in United Arab Emirates 2,916](https://millionrounds.com/lists/investors-based-in-united-arab-emirates) - [Investors based in Australia 2,592](https://millionrounds.com/lists/investors-based-in-australia) - [Investors based in France 2,280](https://millionrounds.com/lists/investors-based-in-france) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about investors based in Azerbaijan ### Who are the most active investors based in Azerbaijan? By cheques observed, the most active are Caucasus Ventures, Infipro Inc, QU TechnoPark, AIH and Allin Fund. ### How many investors based in Azerbaijan are there? 40 are on record. 3% made an investment in the last 12 months. ### Which stages do investors based in Azerbaijan back? Of the rounds with a named stage in the last 12 months, mostly Pre-seed (100%). ### Which sectors do investors based in Azerbaijan back most? In the last 12 months, mostly AI, E-commerce and Retail. ### What have investors based in Azerbaijan invested in recently? Recent rounds include Replenit (Pre-seed, Apr 2026, with Caucasus Ventures). ### How is this list of investors based in Azerbaijan ranked? By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night. ### Can I see all 40 investors based in Azerbaijan? The top 25 are here. All 40 are in the app, with filters for stage, sector, market and cheque size. A free account shows 10 per search, Pro up to 1,000. Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)