Azer Capital Venture Fund Launches in Azerbaijan


Baku is Azerbaijan’s oil-rich capital city and prides itself on maintaining a formal culture. Respect for protocol is highly esteemed in Baku.

Azerbaijan, situated at the crossroads between Eastern Europe and Western Asia, lies between Russia in the north, Iran in the south, and the Armenian enclave Nagorno-Karabakh to its west. Azeri is its official language, belonging to the Oghuz branch of Turkic languages.


AZER SCIENTIFIC INCORPORATION manufactures laboratory equipment and consumables for clinical, research, industrial, and biopharma laboratories worldwide. With our commitment to quality, reliability, customer service, and value-for-money offerings, AZER Scientific strives to help laboratories make informed decisions with products that deliver on their promises.

Quidel representative Reza Ardekani of Azer Scientific was approached via emails beginning March 2, 2021, to inquire whether Azer could produce one million 2 milliliter tubes per week for them; Ardekani responded that Azer could do this but that it required purchasing automation machinery and hiring additional staff. On March 31 of that year, Quidel forwarded Ardekani a draft purchase order, which he was asked to review and confirm its terms. However, Ardekani indicated his concerns regarding it while noting Azer had already started ordering equipment and installing it at the Morgantown warehouse before placing any orders from Quidel.

Quidel contends that this evidence establishes a contract between herself and Quidel; however, the Court does not concur.

Due to the following considerations, the Court dismisses Azer’s quantum meruit claim while denying Quidel’s motions to transfer venue and dismiss the complaint. Furthermore, it rejects Azer’s assertion that an existing and valid contract precludes her from raising quasi-contract claims against it.


The company aims to facilitate start-up development in Azerbaijan and transform the country into a technological hub through this venture fund’s activities in financial technology, medicine, education, cloud technology, and artificial intelligence – as well as financial support and global scaling know-how. Tamer Azer, the managing director of this venture fund, discussed its launch at a press conference.

Seventure Partners is a European leader in sports venture capital. They invest in early-stage companies with significant growth potential and an experienced management team while maintaining integrity and transparency as an intermediary between business angels and classic financial institutions. Seventure’s investment portfolio features many prominent sports startups.


AZER Technology is a premier laboratory equipment and consumables supplier that serves clinical, life sciences, research, and industrial lab markets. Their products are used by scientists, technicians, and researchers in their respective fields daily to support their work in those disciplines. With headquarters located in Morgantown, PA, and serving customers worldwide, Inverness Graham Investments IV (a Philadelphia-based buyout firm focused on innovative companies where technology is disrupting traditional industries) owns Azer Scientific. During this competitive process, Delancey Street Partners served as the exclusive financial advisor for Azer Scientific. They negotiated terms on all transactions between parties involved for any transactions they involved with Azer Scientific.

Azerbaijan has made substantial strides toward building its ICT sector, yet additional efforts must be taken to meet the economy-wide demand for fast Internet. Azerbaijan should also create an education system capable of equipping students for tomorrow’s workforce; this requires investing in high-quality teaching and training services.

Azerbaijan’s constitution guarantees every citizen their right to education. It outlines the state’s role in providing this right, such as offering free primary and secondary schooling, scholarships for top students, and grants from leading institutions. Furthermore, government officials have made efforts to improve its technological infrastructure, creating secure systems for using ICTs effectively while increasing distant learning possibilities and expanding its scope of e-government services.