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Astana, Kazakhstan • 14 February, 2024 | 16:36
1 min read

New Venture Fund to Back Kazakh, CA Startups from Pre-seed to Series B

The Kazakh-British fund will specialize in funding IT projects

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Qazaqstan Investment Corporation (QIC) and the British investment service company Sturgeon Capital Ltd. signed an agreement to establish a venture fund. This fund will finance IT projects in Kazakhstan and Central Asia, QazMonitor reports citing the press service of QIC.

The document was signed by Yerbolat Zholat, Chairman of the Board at QIC, and Kiyan Zandiyeh, CEO of Sturgeon Capital.

The fund will finance projects in various IT sectors at the pre-Seed, Seed, A, and B Series. Sturgeon Capital aims to develop its relations with Kazakhstan, viewing the nation as the entry point to the Central Asian market and will consider promising projects in the region.

Qazaqstan Investment Corporation JSC is a private equity fund created to promote the sustainable development of the national economy. The fund aims to attract foreign investment, utilizing leading international experience and transferring innovative knowledge and technologies to private equity.

Sturgeon Capital Ltd. is an investment management company headquartered in the United Kingdom. Since 2006, it has been managing investment funds and offering investment strategies and consulting services.

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