QazTech Ventures with a capital of $ 10 million will enter this fund as an anchor investor. … the jointly created fund will consider and finance promising startup projects in Kazakhstan and Central Asia in the next three years.
One of the anchor investors of the established fund is Pavilion Capital, a subsidiary of Temasek, Singapore’s leading financial development institution.
“Collaboration with the leading Singapore fund and the opening of a joint acceleration program is an important step in building the country’s venture ecosystem and bringing domestic startups to the global market. Today, the venture market in Southeast Asia has high potential and is developing at a rapid pace. We expect that in the near future projects funded by this Fund will be able to be competitive both in Kazakhstan and abroad, in particular in Southeast Asia”, Chairman of the Board of Directors of QazTech Ventures JSC, Managing Director of “Baiterek” Holding Adil Nurgozhin said.