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ASTANA – Kazakhstan Investment Corporation (QIC) Private Equity Fund and the UK’s Sturgeon Capital Management Company have agreed to establish the Sturgeon Emerging Opportunities II LP Venture Fund, the company’s press service said on February 14. It was reported on the day.
Photo courtesy of Kazakhstan Investment Corporation.
The fund will provide funding to IT startups in Central Asia at pre-seed, seed, A and B stages. The fund invests in fintech, software, business products and services.
“Attracting foreign investment to Kazakhstan is one of QIC’s key objectives. Through our partnership with Sturgeon Capital, we hope to attract institutional investors and major foreign private investors to the fund.” said Yerborat Zorat, Chairman of the Board of Directors.
Kiyan Zandier, Chairman of the Board of Directors of Sturgeon Capital, highlighted the development of Kazakhstan’s venture market.
“We are pleased to welcome Kazakhstan Investment Corporation as a partner. The venture capital market in Kazakhstan is widely developed and our cooperation will further boost it. Moreover, Kazakhstan is the gateway to the Central Asian market. We are happy to consider potential projects in the area,” Zandier said.
Sturgeon Capital is a UK-based investment management company that has been managing investment funds, providing investment strategies and consulting services since 2006.
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