Investors in Kazakhstan

Eksim was established in Istanbul as a foreign trade company in 1986. In a short time period, the company succeeded to become one of the important player in the market by trading grain (wheat, barley, oat, etc.), oilseeds (soybean, sunflower, corn, etc. ). In the following years, Eksim has started to invest such as Kazakhstan, Ukraine and Romania. Especially in food sector, the group has succeeded to establish a continuous supply chain from the producer to the end user in the agricultural products through its own companies and its local contacts. In the year of 2000s, Eksim decided to make investments in different sectors, according the changing dynamics in the world. And today, Eksim has become one of leading groups in Turkey, in the energy, food and real estate sectors. Especially, Eksim has a wide portfolio of projects in the field of renewable energy. With the 464 MW wind farm license, Eksim is one of the pilot companies in Turkey in the wind energy field. In the sector of hydroelectric energy which is another section of renewable energy, Eksim holds over 874 MW capacity project portfolio. Eksim’s first HPP, 63 MW Uzundere – I HPP which was built on the İncesu creek, has already been commissioned on May 2010. Eksim has intensive interest in the Real Estate sector and is implementing many prestigious projects which have their own special concepts. The Aquacity 2010 project in Sancaktepe region, the Ak-Asya project in Acıbadem region, the Ottomare project in Zeytinburnu region, the KAT project in Ataköy region are being developed by Eksim and strategic partner SİNPAŞ company. Sinangil which is the first packaged flour supplier company in the Turkish market, and Eksun Food and Altınapa Milling Company which are in the list of top 500 Turkish Industrial Enterprises, are being operating under the Eksim umbrella in the food sector.

Centras Capital is the Kazakhstan leading investment management firm. It was established as a team spin-out from Kazkommertsbank’s Group. The investment team was responsible for direct investments and investment banking of the Group and went independent by launching an independent licensed investment advisory boutique in 2004. Since then the businesses have grown up and now extend on private equity, capital markets, and insurance. The Company is now present in Russia, Kyrgyzstan and Guernsey. Centras is the market pioneer in mutual funds, venture capital and buyouts. The Company launched the country’s first open-ended mutual fund in 2005 and international private equity fund in 2007. Its private equity fund for control investments and growth equity opportunities was supported by EBRD and CDC Group. Centras also runs two local venture funds – government-private initiatives for innovations and nuclear industry’s ventures. Operating in a transition economy, Centras emphasizes the market need for Core Competence and Operating Efficiency and focuses on management-intensive businesses. The firm introduces intellectual capital to local entrepreneurs and seeks to further professionalize businesses. Centras Securities, the brokerage and investment banking arm, is ranked #2 in local equities and one of the largest Kazakhstan Stock Exchange’s stakeholders. They are emerging growth equity specialists focusing on junior high-growth businesses. The Company is one of three country’s largest mutual fund managers. Two Centras insurance businesses – Centras Insurance (rated B3/Positive Outlook by Moody’s) and Kommesk-Omir (B3/Stable) – are market largest independent insurers. They jointly command the #7 market position in property & casualty insurance. Both the companies provide their own nationwide coverage and distribution to individuals and businesses.

JSC Rietumu Banka is one of the largest banks in the Baltics States, specialized in corporate banking and affluent individuals. Headquartered in Riga, Latvia, the Bank is well represented in the global market, providing services to customers all over Europe, the Baltic States, Russia, Ukraine, Belarus, Kazakhstan, Romania, Armenia, and other regions.

Baiterek's mission is to facilitate the sustainable economic development of Kazakhstan through financing and supporting the economy’s priority sectors, implement state policies, addressing socially oriented challenges and achieving the country’s long-term economic strategy.

MyVentures VC is a venture capital firm based in Almaty, Kazakhstan. The firm was founded in 2021 by Shakhboz Rakhmanov and Timur Tulebaev. MyVentures VC invests in early-stage technology startups that are shaping the industries of tomorrow. The firm's focus sectors include fintech, medtech, enterprise tech, e-commerce, and artificial intelligence.

AV Frontiers is an investment management firm based in Bishkek, Kyrgyz Republic. AV Frontiers is owned by Kyrgyz financial institution Frontiers and Washington DC-based impact investment manager AV Ventures, a subsidiary of development organization ACDI/VOCA. AV Frontiers is well equipped to fill the financing gap in the dynamic Central Asian SME market by providing both favorable financing terms and technical assistance. This approach will allow AV Frontiers to return value to investors and put its impactful portfolio companies on a path of sustainable growth. AV Frontiers is raising a US$8–10 million evergreen Central Asia Impact Fund anchored with US$2 million investment from ACDI/VOCA and affiliates.  Taalaibek Djoumataev, Managing Director, AV Frontiers (Bishkek, Kyrgyz Republic). Kyrgyz national with 25+ years’ experience in private commercial banking, microfinance lending, and financial regulation with the Kyrgyz National Bank (Central Bank). Key figure in the Kyrgyz Republic’s structural and regulatory changes during the country’s shift to a market-based economy  Arsalan Ni, Fund Management Advisor, AV Frontiers (Almaty, Kazakhstan). American citizen with 20+ years’ experience in venture capital, development finance, SME lending and investing, and entrepreneurship. Proven track record launching and managing SMEs funds in emerging and frontier markets at the IFC, World Bank, and United Nations Green Climate Fund.  Geoffrey Chalmers, Managing Director, AV Ventures (Washington, DC). American citizen with 20+ years’ experience in development partnerships, catalyzing investment in emerging and frontier markets, and enterprise development.

BYB Capital is a venture capital firm that evolved from the Saby Foundation's 'Build Your Own' (BYB) competition. The firm backs visionary founders driving innovation in AI, advanced materials, and robotics across CIS, North America, Europe, and Asia.

Kaspi.kz is the largest consumer-focused Ecosystem in Kazakhstan with a leading market position in each of its key products and services. Kaspi.kz provides technologically advanced, seamless and innovative ways for consumers to shop, pay for and finance their purchases, as well as manage their personal finances through a growing range of interconnected products and services. This is fast-growing, transaction-driven, profitable and dividend-paying business.Kaspi.kz is guided by its mission to improve people’s lives through developing innovative products and services. The company is built around four core revenue generating platforms, which form its Ecosystem and includes Marketplace, Payments, e-Finance and Consumer Financial Services platforms.

We are a specialist Emerging Market asset manager focused on investing institutional funds to enhance risk weighted return with a focus on the geographies in the CIS regionFounded in 2010, VPE Capital focuses primarily on Private Equity opportunities. The Manager currently has two strategies, one sector-agnostic focused on Russia, and the second on Infrastructure in Kazakhstan. VPE Capital pairs expert local knowledge with Institutional standards of practice. VPE Capital (Middle East) Limited is regulated by the ADGM Financial Services Regulatory Authority. Registered number 000000564.VPE Capital pairs expert local knowledge with institutional standards of practice. ​The primary focus of our Moscow and Nur-Sultan based teams is on sourcing, analysing and structuring PE investments on behalf of our LPs.

Amun Capital is an international private investment and advisory firm with a key focus on CIS, Southeast Asia, Middle East and Sub-Saharan Africa. Investment professionals based in Hong Kong, Almaty, Moscow and Abu Dhabi combine a unique pool of skill sets, vast experience and in-depth knowledge in venture capital, mergers and acquisitions, capital markets, legal and operational management and entrepreneurship. The Firm focuses on fast growing sectors and partners with entrepreneurs and like-minded investors to identify investment opportunities, utilize unique business know-how and its superior local network of relationships to ensure efficient business plan execution and successful exits. Commitment to bring value-add to its portfolio companies as well as implementation of international best-practice standards in corporate governance, transparency and professional management are the cornerstones of Amun Capital’s investment approach.

Almak Capital provides to its clients a broad spectrum of investments, including private equity deals in different industries, venture investments in start-ups and «early growth» stage companies, and investements on stock markets of US, Europe, Asia and CIS countries. 3 Reasons to Work with Us 01. EXPERIENCE Our team has experience in finance and investment industries, including working on key positions in banking, corporate finance, and stock exchanges. 02. PERSONAL APPROACH We offer investments in accordance with individual preference of each investor. 03. REPUTATION We value our reputation and have earned high trust both from our clients and partners around the world. We invest in mid-size companies on every stage of their growth. Both equity and debt financing could be options. Investment horizon does not exceed 2-3 years. We actively support co-investments with leading private equity and venture funds. At the moment our portfolio includes investments into oil&gas, solar energy, healthcare and retail industries. Asset management For our clients we offer a wide portfolio of liquid assets management: stocks, bonds and various structured products. We actively cooperate with leading brokerage companies of Kazakhstan, and also we are partners of brokerage companies of Great Britain and Russia. Almak Capital is the authorized Portfolio Manager of the largest brokerage company in the US – Interactive Brokers Inc. For each client, we propose an appropriate strategy: from conservative to aggressive. Investment advisory We actively consult our clients on various transactions: from helping on M&A deals to fundraising processes. A large network of partners in the CIS, Europe and the United States, allows you to attract the right partner to your business, which can bring not only financial resources, but also knowledge, technology and experience.

We are a private venture fund in Central Asia. For more than 10 years, we have been providing financial and non-financial support to technology entrepreneurs, as well as conducting incubation and acceleration programs for the entire region. The Fund focuses on IT startups building an international business.We believe in innovators and become partners of their businesses. We select the best technology startups that create cool products. We invest for rapid scaling to global markets. A win-win strategy in which high financial risks are justified by the explosive growth of the company.We also provide non-financial types of support to startups. By participating in the funds acceleration programs, a startup gets the opportunity to "package" a project, prepare for receiving investments through mentoring, workshops, individual meetings with professional practitioners, as well as "hack" its growth (today known as growth hack)We bring together founders, mentors, experts, representatives of corporations, investors and business angels on one platform. Our startups get access to this community. By holding various meetings, master classes, and training, we are growing together in all directions.

Corporate Governance The Corporate Governance system of "Samruk-Kazyna" JSC protects the rights and provides investors with prompt and reliable information about profit, management principles and the state of affairs in the company, minimizes and eliminates possible risks of interests and rights of shareholders.The Government of the Republic of Kazakhstan is the Sole Shareholder of "Samruk-Kazyna" JSC, empowered to approve the Fund's development strategy, appoint directors and general director, approve financial results and receive dividends; The Board of Directors provides general management of the company and delegates day-to-day operational tasks to the Management Board, which is headed by its CEO.Joint Stock Company «Samruk-Kazyna» was founded in accordance with the Decree of President of the Republic of Kazakhstan dated October 13, 2008 № 669 «Оn some measures on competitiveness and sustainability of national economy» and by the Decree of the Government of the Republic of Kazakhstan dated October 17, 2008 № 962 «Оn measures on realization of the Decree of President of the Republic of Kazakhstan № 669» by merge of two joint stock companies Kazakhstan Holding for the Management of State Assets SAMRUK and KAZYNA Sustainable Development Fund.The key area for Samruk-Kazyna and Companies shall be modernization and diversification of national economy in the framework Annual Addresses of the President of Kazakhstan, Strategy of Industrial and Innovation Development of Kazakhstan 2003-2015, “30 Corporate Leaders of Kazakhstan” Program, aims and objectives assigned to Companies and other documents.Samruk-Kazyna is to provide maximum support to the Government of Kazakhstan, promptly and efficiently responding to the needs in attracting investments into real economy, becoming more active in the regions, strengthening inter-industry and inter-regional links and making maximum use of available advantages and opportunities.

One of the largest groups in Kazakhstan, specializing in making direct equity investments in private companies. By acquiring a controlling or significant minority stakes in companies in Kazakhstan and other CIS countries from private owners, the group is actively involved in their strategic and operational management. The group was founded in 2006.We help companies in attracting financing, managing local risks and introducing the best practices in the field of corporate governance and financial reporting.We enter the capital of adult companies with the aim of developing them at a new operational level, entering emerging markets, increasing their value with subsequent sales. At the same time, the portfolio of the group includes green field projects, implemented "from scratch”.Our visionTo preserve and increase the value of the capital we manage.Our missionWe integrate capitals, attract professionals to effective teams, introduce advanced technologies to create high-yielding companies thus to develop the economy and to augment public welfare.

Ordabasy Group is an investment group founded in 2010 that successfully operates in the traditional industries of Kazakhstan and beyond, controlling leading enterprises in their areas.Ordabasy Group's business strategy is based on obtaining the best return on shareholders' equity and implementing modern management methods. Continuous improvement of the professionalism and competencies of the team, aimed at achieving the desired results for our partners, contractors and consumers, and also are a good basis for the effective development of the company's investment activities, not only in the short term, but also in the long term. We are convinced that our success is largely based on this business philosophy.Maintain the position of one of the best companies in the region, determining the development of business in the future, ensuring the financial stability of the company at the stage of its operation and further development.Expand investment activities for new promising projects and enterprises with high potential, in order to achieve maximum financial and production indicators.Transformation of the holding with a goal achieving a total Enterprise Value of more than USD 2.8 billion by 2026.

Asadel Venture Holding is a venture capital fund managed by Asadel Partners. The fund is located in Almaty, Kazakhstan, and will invest in Southeast Asia, Belarus, Moldova and Ukraine. The fund targets to invest in information technology sector and prefers investment ranging from USD 500 thousand to USD 5 million per company.

Lancaster Group is a diversified holding company in Kazakhstan. Investing in various sectors of the economy, the company creates joint ventures with major international operators and today is represented in such sectors as industrial infrastructure, oil and gas services, pharmaceuticals, logistics, financial services, hotel business and education.Kazakhstan is our Motherland. Love for the motherland and care for it gives us strength, allows us to develop business and establish new business ties abroad.We value honesty, decency and reliability. Our business and our reputation are very important to us, so adhering to high ethical standards is a key element of our business practice.

Promoting the development of technological entrepreneurship through venture financing, business incubation and expert and technological supportVISIONBY 2024, IT IS A KEY INSTITUTION FOR THE DEVELOPMENT AND IMPLEMENTATION OF TECHNOLOGICAL INNOVATIONS IN KAZAKHSTAN.The activities of the Company are:investment in industrial and innovative projects through participation in the authorized capital of subjects of industrial and innovative activities, creation of legal entities with foreign participation, creation or participation in investment funds, venture funds and other methods provided for by the legislation of the Republic of Kazakhstan;promoting the development of risk investment funds, venture capital funds and venture financing;organization of training events in the fields of technological entrepreneurship, technology development;examination of projects (technological, financial, economic, legal);provision of information, analytical and consulting services in the field of innovation development;provision of services and technology consulting, including with the assistance of the development of investment funds of risk investment, venture funds and venture financing as part of its activities;cooperation with international organizations in order to attract information, educational and financial resources to stimulate the technological development of priority sectors of the economy.QAZTECH VENTURES allows business angels to invest together with the Fund, before the start of the Accelerator. A potential investor joins the same corporate agreement as the Fund, according to the same assessment. The minimum investment amount is calculated individually.

SigmaBleyzer LLC is a private equity and venture capital firm specializing in early venture, middle market, mature, growth capital, industry consolidation, buyouts, turnaround, distressed situations, and corporate restructuring. It prefers to invest in cable TV, food and beverage, financial services, pharmaceuticals, energy, consumer goods, retail, agriculture, chemicals, metallurgy, shipyards, dairy production,biotech, life science and healthcare ventures, and commodities sectors. The firm prefers to invest in companies based in Kazakhstan, Romania, Ukraine, and Texas. It prefers to invest equity investment between $ 5 million and $ 50 million. The firm prefers to have controlled interests and majority stake in its portfolio companies and also prefers minority stakes. It prefers a strategic exit or IPO and for biotechnology investments, concentrating on creating exit opportunities prior to US FDA Phase 2 development. SigmaBleyzer LLC was founded in 1994 and is based in Houston, Texas with additional offices in Almaty, Kazakhstan; Bucuresti, Romania; Kharkov, Ukraine; Kyiv, Ukraine, and Kiev, Ukraine.

Welcome to the official corporate Internet resource of the private equity fund ALMEX-Baiterek Fund LLP! On behalf of the Head of State, with the support of the Government of the Republic of Kazakhstan and the Atameken National Chamber of Entrepreneurs of the Republic of Kazakhstan, with the participation of the Baiterek National Managing Holding and the ALMEX Holding Group, a new direct investment fund will be created to support domestic enterprises of the agro-industrial complex and the food industry. The size of the Fund will be 18.6 billion tenge. The Fund's investors on a parity basis were a subsidiary of Baiterek Holding Kazyna Capital Management JSC and Almex Project LLP, which is part of the ALMEX Group of Companies. In the future, the Fund may be increased by attracting financial resources from other investors. It is expected that as a result of the Fund's activities, Kazakhstani companies in the agricultural sector and the food industry will have the opportunity for their own development and growth both by improving the capital structure and the possibility of reducing the debt burden, and by assisting the Fund's professional team in improving business efficiency by introducing the best world practices of corporate governance. It is worth noting that the Fund's activities will be aimed at supporting domestic producers in these sectors of the economy of the Republic of Kazakhstan through equity financing. The average time of the Fund's presence in one project will not exceed 5-7 years from the date of the decision to participate. At the same time, the return of the Fund's investments will be made at the time of termination of the Fund's participation in the project. This distinguishes the Activities of the Fund from the activities of banks, which, as a rule, require the payment of remuneration during the entire period of provision of debt financing. The demand for the proposed shared type of financial support is due to the existing difficulties of Kazakhstani entrepreneurs associated with a shortage of own funds, the lack of a high-quality collateral base, high cost and difficult access to obtaining debt financing. The creation of the direct investment fund of ALMEX-Baiterek Fund LLP is carried out in accordance with the instruction of the President of the Republic of Kazakhstan N.A. Nazarbayev to support small and medium-sized businesses and business activity, voiced in the Address to the people of Kazakhstan "NURLY ZHOL - THE WAY TO THE FUTURE". This initiative marks an important signal of the readiness of the Government and representatives of the business community to direct joint efforts to the development of small and medium-sized businesses in our country.

Centras Capital Ltd. is a venture capital and private equity firm specializing in seed/startup, early venture, mid venture, late venture, emerging growth, industry consolidation, buyout, turnaround, growth capital and mezzanine investments. The firm does not invest in the gambling, tobacco, and alcohol industries. It seeks to invest in the financial services, consumer, basic materials, and healthcare sectors. The firm invests in Kazakhstan region. Centras Capital Ltd. was founded in 2004 and is based in Almaty, Kazakhstan.

JSC Lancaster Invest is a private equity and venture capital arm of Lancaster Group Kazakhstan specializing in seed, startup, early venture, mid venture, growth capital investment, late venture, undervalued enterprises, leveraged buy-out, consolidations and additional acquisitions; corporate restructurings; and purchase of lame duck companies. The firm invests in existing businesses and in limited cases in greenfield projects. It seeks to invest in pharmaceuticals and information and communications technology. The firm seeks to acquire non-public companies and limited liability partnerships. It prefers to invest a minimum of $3 million in Kazakhstan. It typically takes a blocking stake of at least 25% in its targets. The firm seeks to take a board seat. It seeks to exit its investments in five years through a strategic investor/portfolio investor or initial public offer. The firm also Invests as an asset management company investing the funds under management in the charter capitals of investees. JSC Lancaster Invest was founded in September, 2005 and is based in Almaty, Kazakhstan.

Tech Garden Ventures is a venture capital firm specializing in incubation, seed/startup, early venture, mid venture and growth capital investments. It prefers to invest in agritech, AI, ecommerce, ecotech, fintech, health-tech, industry 4.0, IoT, new materials, and smartcity. The firm typically invests in Central Asia, CIS and Eastern Europe. The firm prefers to invest between $20000 million to $100000 million in equity. It prefers to invest from its balance sheet. Tech Garden Ventures was founded in 2017 and is based in Lewes, Delaware with an additional office in Almaty, Kazakhstan.

White Hill Capital Ltd is a venture capital firm specializing in pre-seed and seed /startup and early stage investments. The firm seeks to invest in businesses which are involved in fast-growing technology companies including agri-tech, e-commerce, log-tech, fin-tech, and health-tech sectors. The firm prefers to invest in Kazakhstan. The firm seeks to make investment up to $0.5 million. White Hill Capital Ltd is based in Astana city, Kazakhstan.

Astana Hub Ventures Ltd. is the venture capital arm of Astana Hub, launched in May 2024. Based in the AIFC, it invests in early-stage tech startups across Central Eurasia and global markets.