On the development of the venture industry in Kazakhstan and an investment course from BGlobal Ventures

Abay Absamet, Investor and CEO of BGlobal Ventures, @abay.abs

About Me

I lead BGlobal Ventures. Our primary mission is to develop the venture capital market. We started by educating high-net-worth individuals, entrepreneurs, top managers, and investors in proper venture investment methods. In Kazakhstan and the region, the startup ecosystem is growing rapidly: over the past five to six years, deal volume has increased by 5.5 times. However, there is a shortage of qualified venture investors. We are filling this gap and plan to launch a co-investment fund for investing in startups across Central Eurasia.

Previously, I worked as Managing Director at Astana Hub, where I oversaw incubators and accelerators such as Silkway Accelerator and programs with Draper University. Before that, I worked on large-scale investment projects at Samruk-Kazyna JSC and in business consulting at one of the Big Four firms. I have over 10 years of experience in investment and business development.

About BGlobal Ventures

This year, in our educational track, we launched a course together with Silk Road Innovation Hub and the Eurasian Business School. This is a six-day intensive online course on venture capital, combining theoretical and practical sessions of four to five hours per day. The first cohort, which took place in July, featured around 10 speakers—practicing venture investors and startup ecosystem development experts from Silicon Valley. The course was rich with cases from Stanford and real startup pitches. About 80 people participated, including novice and active angel investors, as well as representatives of major organizations such as the European Bank for Reconstruction and Development, the World Bank, Qazaqstan Investment Corporation, the Asian Development Bank, and many others.

We received extensive feedback from participants. Our key task is to encourage Kazakhstani investors, who are accustomed to investing in the stock market, real estate, or offline businesses, to consider venture capital as an alternative option. It involves high risks, but returns can be substantial, so deep knowledge in this area is essential. Our course is valuable for the growing market of venture capitalists in Kazakhstan. This is our main focus this year.

About Venture Capital Courses

The course serves as an entry point into venture capital. However, success requires immersion and self-study. Work with accelerators and incubators, attend demo days. Do not stop at the knowledge gained; join clubs, follow the activities of practicing angels, and participate in syndicates. The venture capital market is becoming increasingly accessible.

A syndicate is a group of investors who pool funds of $5,000–$10,000 and invest together in a single deal. Typically, a syndicate has a leader—an experienced person who conducts analysis, negotiations, and startup valuation. These leaders have a good reputation, and their expertise is highly valued. Novice angel investors can join a syndicate to gain experience. Those who do not have time for active investing can allocate a sum and invest through venture funds as limited partners.

Venture funds are professional teams that invest in startups. They promise, but do not guarantee, that investments will generate profit. It is important for course participants to join the angel investor community and begin investing. Online platforms for venture capital investment are also worth considering.

The fund we plan to launch will aim to stimulate angel investors to invest, supporting their investment efforts.

What Are Venture Investments and How to Become a Business Angel

Venture investing is a high-risk investment in fast-growing technology startups. Startups are temporary organizations seeking a scalable business model under conditions of uncertainty. Unlike traditional businesses, startups do not have a clear business model or target audience and are constantly in the process of product development and market search.

Startups find it difficult to obtain funding from traditional banks and funds because these institutions require a stable financial model and track record. Therefore, founders turn to business angels, who are willing to take high risks.

Business angels invest in startups not to receive dividends, but to increase capital value. These are long-term investments: it usually takes 5 to 10 years to achieve significant profits. It is important to understand that most startups fail, but successful investments can cover losses and generate profit.

Advice for novice investors: do not invest all your funds in startups. It is recommended to allocate no more than 5–10% of your free capital. It is optimal to invest through angel clubs or syndicates—this reduces risks and learning costs.

On Venture Investment Trends

If you are a venture investor, it is important to define your strategy. You need to choose:

1. Average check size and geography: where you will invest—in Kazakhstan, Central Asia, Europe, East Asia, or globally
2. Startup stage: Seed, Pre-seed, or later stages
3. Vertical: in which area you will specialize

The key recommendation is not to chase hype. Many are investing in artificial intelligence. However, if you understand, for example, EdTech better, it is better to invest there. Investing in a familiar field will allow you to analyze projects more deeply and avoid mistakes. Trends may be interesting, but it is important to choose areas where you have expertise.

Plans

We are recruiting participants for the venture capital course. The list is open to all interested parties. If you are an entrepreneur looking to expand your investment horizons or diversify your portfolio, this course is for you. We also invite top managers of corporations who want to improve efficiency or develop new business models, as well as startup founders who want to better understand how venture investors evaluate projects and conduct due diligence.

The course starts in September. In October, we plan a business tour to Silicon Valley, including visits to leading companies and forums such as TechCrunch. The Silk Road Angel Club is also available for investing in startups from Silicon Valley. Details are available on our website, where you can also learn about free online and offline seminars with practicing investors.