Qazaqstan Investment Corporation invests $30 million in the venture fund Alem Ventures

Qazaqstan Investment Corporation and the management company Qazaqstan Venture Group Ltd. have announced a partnership within the framework of the Alem Ventures Fund Limited Partnership venture fund.

The target size of QIC is $1 billion. QIC is expected to invest $30 million into the fund. The funds will be directed toward supporting IT projects in Kazakhstan, Central Asia, the Caucasus, and other promising global markets.

QIC's potential participation in the fund of funds will be an important step for the further development of Kazakhstan's venture market and strengthening its position on the global stage. The partnership will attract the attention of global funds to promising regional startups, as well as contribute to their scaling and subsequent successful exits.

The creation of the Alem Ventures Fund Limited Partnership venture fund was supported at the level of the Head of State and the Government of the Republic of Kazakhstan.

Qazaqstan Investment Corporation is designed to become a catalyst for attracting private venture capital, including investments from global funds, and will play a key role in shaping and developing the national technological ecosystem.

Qazaqstan Investment Corporation is a fund of direct investments, established in 2007. Its main mission is to promote sustainable economic growth in Kazakhstan by attracting direct investments and supporting projects that contribute to the modernization and increased competitiveness of key economic sectors. More details on the website: https://qic.kz/ru.

Qazaqstan Venture Group Ltd. is a management company whose main mission is to develop the venture ecosystem in Kazakhstan and the region, providing investors with opportunities for diversification and access to global investments.