Alem Capital Management invests $3 million into the MOST Accelerator Fund

Alem Ventures Fund, managed by Alem Capital Management, is investing $3 million in the MOST Accelerator Fund, an accelerator fund focused on B2B startups leveraging artificial intelligence.

The MOST Accelerator Fund operates as a next-generation venture fund and follows a logic similar to the Y Combinator model: it combines early-stage investments with accelerator expertise. The fund’s key focus, with a total volume of $10 million, is scaling AI-driven B2B solutions from Central Asia.

The MOST Accelerator Fund’s portfolio already includes five startups: PanDev, Call2Action, Athena AI, 4sell.ai, and MoonAI. Previously, IT entrepreneurs joined the fund as investors and partners, including Murat Abdrakhmanov, Bayzhan Kanafin, Alexander Bondarenko, and Alexander Doroshenko.

The MOST Accelerator Fund plans to invest in more than 35 projects, which, in addition to acceleration and funding, will receive expertise and support for entering the Central Asian market, including Kazakhstan, Uzbekistan, and other countries, with access to corporate clients, ecosystem partners, and investors.

Alim Khamitov, Managing Partner of MOST Accelerator Fund
For us, the fund-of-funds investment is a sign of trust in our model. MOST Accelerator Fund is being built as a platform that systematically works with founders just like the world’s best accelerators, while focusing on the specific conditions of Central Asia. With the support of partners and Alem Capital Management, we plan to finance more than 35 projects.

For Alem Capital Management, this is already the second deal since the launch of the fund-of-funds, aimed at supporting institutional venture tools in the region.