Investors Assess Kazakhstan’s Prospects in Raising Capital in Global Venture Market

The Astana Times

Managing Partner at Quest Ventures James Tan provided statistics on the venture capital invested into Central Asia startups, noting that “for the last four years, the region has received only $150 million, which is a drop in the ocean.” With a focus on early-stage digital commerce investments, his Beijing-based company deploys funds across Asia.

In Tan’s view, having no back-up support, Central Asian startups head to Silicon Valley at some stage of their development. “The United States has nearly 49% of the world’s global venture capital market,” he noted.

Local limited partnerships (LP), in his opinion, should be interested in supporting the local funds, saying that “the companies focus not only on the startups themselves, but also on the interests of local LPs.”

During his speech at the opening of the Digital Bridge Forum on Oct. 12, President Kassym-Jomart Tokayev outlined the importance of attracting international players to Kazakhstan’s venture capital market.

“We need their competence and high-quality expertise of projects. Domestic institutional investors, including the Baiterek national holding can become key partners. In addition, it is necessary to develop mechanisms and tools to ensure participation in venture funds of various financial institutions – second–tier banks, insurance companies, and microfinance organizations,” said the head of state.


Quest Ventures backs Vulcan Augmetics
Kazakhstan Science Fund partners Quest Ventures to boost startup ecosystem