QIC and Sturgeon Capital Ltd. signed an agreement on the creation of the venture fund

The document was signed by Chairman of the Board of QIC Yerbolat Zholat and Chairman of the Board of Sturgeon Capital Ltd. Kiyan Zandiyeh.

The signing ceremony took place within the framework of the annual meeting of investors, partners and portfolio companies managed by Sturgeon Capital Ltd.

It is planned that the Fund will finance projects in various IT sectors at the pre-Seed, Seed, A, B stages.

"Attracting foreign investments to Kazakhstan is one of the main tasks of Qazaqstan Investment Corporation. We continue this work and are glad that within the framework of cooperation with Sturgeon Capital, it is planned to invest in the development of Kazakhstani IT projects additional funds, including foreign. Overall, we are expecting that the joint work of Qazaqstan Investment Corporation with Sturgeon Capital Ltd. will entail joining the fund of institutional investors, as well as large private foreign investors," Ye.Zholat said.

"We are pleased to welcome Qazaqstan Investment Corporation as our partner. The venture capital market in Kazakhstan is actively developing and our cooperation, I am sure, will give it an additional boost. Moreover, it is worth noting that Kazakhstan is the entry point to the Central Asian market and we will be glad to consider promising projects in the region," K.Zandie said.

According to the document, the main geographical mandate of the fund will be Kazakhstan and the countries of Central Asia.

Reference:

Qazaqstan Investment Corporation JSC is a private equity fund created to promote the sustainable development of the national economy. Our activities are aimed at building the infrastructure of private equity in Kazakhstan, attracting foreign investment in priority sectors of the economy, using leading international experience and transferring innovative knowledge and technologies to private equity.

Sturgeon Capital Ltd. is an investment management company headquartered in the United Kingdom. Since 2006, it has been managing investment funds, as well as offering investment strategies and consulting services.