Kazakhstan is establishing a Fund of Funds for Venture Investments to attract $1 billion

Prime Minister Olzhas Bektenov held a meeting with leading experts in venture financing, representatives of the Kazakh business community, and international partners. The central topic of discussion was the creation of a Fund of Funds for Venture Investments, aimed at attracting global capital, developing the startup ecosystem, and strengthening Kazakhstan’s position as a regional hub for technology and innovation.

Invited to the dialogue, Stanford University professor and recognized venture investment expert Ilya Strebulayev, Andreessen Horowitz partner Malika Aubakirova, Lightspeed Venture Partners partner Galym Imambaev, and DCVC Investment Director Anna Fokina shared their experience in fostering innovation. Experts noted that for Kazakhstan to achieve significant progress, it is important to strengthen cooperation with leading global venture capital funds, which will provide access to cutting-edge technologies and best practices in investment management. They emphasized that attracting global capital requires strengthening the legal infrastructure and creating conditions to support startups in the later stages of their development.

Minister of Digital Development, Innovations, and Aerospace Industry Zhaslan Madiev noted that Kazakhstan already holds a leading position in Central Asia, accounting for more than 70% of all venture deals in the region. Over the past five years, the volume of venture capital in the country has grown more than sixfold, reaching $80 million.

The creation of the fund marks a new stage in the development of the country’s venture market, aimed at integrating Kazakhstan into the international investment and technology ecosystem.

The Fund of Funds for Venture Investments is targeted at attracting $1 billion in private investments in the medium term, which will be directed into leading global, regional, and Kazakh venture funds. This will ensure effective diversification, maximum access to global competencies, and critically important technologies necessary for economic transformation. To date, applications from representatives of major Kazakh businesses totaling more than $100 million have been collected to form the fund’s initial capital.

Special attention in the fund’s operations will be given to promising areas, including artificial intelligence, digital healthcare, and other key technology sectors. It is projected that the global artificial intelligence market will grow to $827 billion by 2030, making this area one of the top priorities for investment.

Source: Official Information Resource of the Prime Minister of the Republic of Kazakhstan