Creative Capital Fund launched in Almaty to support GameDev, IT, and design

In Almaty, the Creative Capital Fund has been established—a city direct investment fund aimed at developing creative industries. The initiative was implemented with the support of the city akimat, Almaty Creative, Freedom Holding Corp., and VPE Capital Fund Management Limited.

The total fund size will amount to 21 billion tenge, with 10 billion allocated from the local budget and 11 billion coming from private and foreign investors. The funds are planned to be directed toward the development of sectors with high export potential: film and video production, animation, music, IT and GameDev, architecture, design, and digital media.

The fund is registered on the basis of the Astana International Financial Centre and will operate under English law. Its operational term will be 10 years: the first five years are designated for the investment period, and the following years for the post-investment period.

The project is supported by the President of Kazakhstan and aligns with the concept for the development of creative industries for 2021–2025. Currently, the share of the creative sector in the country's economy does not exceed 1%, but authorities expect that launching the fund will be an important step toward increasing this indicator.

Source: Gov.kz