QIC and Sturgeon Capital Ltd have signed an agreement to establish a venture fund.

Qazaqstan Investment Corporation and international asset management firm Sturgeon Capital Ltd. have agreed to establish the Sturgeon Emerging Opportunities II LP venture fund.

The signing ceremony took place during the annual meeting of investors, partners, and portfolio companies managed by Sturgeon Capital Ltd.

The Fund is expected to finance projects in various IT sectors at the pre-Seed, Seed, A, and B stages.

Attracting foreign investment to Kazakhstan is one of the primary objectives of Qazaqstan Investment Corporation. The joint efforts of Qazaqstan Investment Corporation and Sturgeon Capital Ltd. will bring institutional investors, as well as major private foreign investors, into the fund.

According to the document, the fund's primary geographic mandate will cover Kazakhstan and the countries of Central Asia.

Source: qic.kz