Kazakhstan Targets $1 Billion in Venture Fund to Attract Startups
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Kazakhstan’s government unveiled plans to target $1 billion in investment to help regional startups and cutting-edge technologies by launching a venture capital fund of funds next year.
Central Asia’s biggest oil producer has seen the rise of home-grown fintech companies such as US-listed Kaspi.kz, while the authorities have sought to break its dependence on energy revenue. President Kassym-Jomart Tokayev has vowed to reduce the state’s role in the economy and to attract $150 billion in foreign investment by the end of his term in 2029.