Qazaqstan Investment Corporation and the UAE-based investment company Gulf Capital will jointly invest in projects in Kazakhstan

Qazaqstan Investment Corporation — QIC and investment company Gulf Capital have signed a landmark agreement to expand the GC Equity Partners IV fund into the Central Asian region, with a focus on Kazakhstan. The document was signed by Gabbas Erzhanov, Deputy Chairman of the Board of QIC, and Karim El Sol, Co-founder and Chief Executive Officer of Gulf Capital.

The targeted capitalization of the fund will be approximately $800 million. The parties agreed that QIC would act as an investor in the fund. In addition, the Fund has committed to investing in Kazakhstani projects an amount twice as large as QIC's investment.

The funds will be directed into priority non-resource sectors of Kazakhstan's economy, such as applied technologies and fintech, healthcare and HealthTech, business services, the consumer sector, as well as sustainable development, including water and food security, agrotechnologies, and energy.

Investors in Gulf Capital include representatives from the Middle East and North Africa, Asia, Europe, and North America. Among them are sovereign wealth funds, pension funds, family offices, and fund-of-funds.

Gulf Capital also plans to actively recruit and train Kazakhstani specialists in finance and investment, offering them internships at its offices in the UAE, which will ensure the transfer of advanced experience in direct investment and enhance the country's human capital potential.

The partnership between QIC and Gulf Capital will contribute to the development of Kazakhstan's economy and help attract international investors to the country.