TLDR:
A new venture fund called Sturgeon Emerging Opportunities II LP has been established by the Qazaqstan Investment Corporation (QIC) and Sturgeon Capital to provide financing to IT startups in Central Asia. The fund will invest at various stages of development, including pre-seed, seed, A, and B stages, and will focus on sectors such as fintech, software, and business products and services. This partnership aims to attract foreign investment and stimulate the development of the venture market in Kazakhstan and the wider Central Asian region.
The Qazaqstan Investment Corporation (QIC) and the United Kingdom-based Sturgeon Capital have announced the establishment of a new venture fund called Sturgeon Emerging Opportunities II LP. The fund will provide financing to IT startups in Central Asia at various stages of development, including pre-seed, seed, A, and B stages. It will focus on sectors such as fintech, software, and business products and services.
The QIC, which is a private equity fund, aims to attract foreign investment to Kazakhstan, and partnering with Sturgeon Capital is expected to bring institutional and private foreign investors to the fund. Sturgeon Capital, an investment management company based in the UK, has been managing investment funds since 2006 and offers investment strategies and consulting services.
The Chairman of the Board of QIC, Yerbolat Zholat, stated that attracting foreign investment is a key objective for the corporation, and partnering with Sturgeon Capital will help achieve that goal. He also highlighted the potential for the venture capital market in Kazakhstan to further develop with this partnership.
The Chairman of the Board of Sturgeon Capital, Kiyan Zandiyeh, expressed his pleasure in welcoming QIC as a partner and emphasized the importance of Kazakhstan as an entry point to the Central Asian market. He stated that their cooperation will give a boost to the development of the venture capital market in Kazakhstan and that they look forward to considering promising projects in the region.
This partnership between QIC and Sturgeon Capital aims to stimulate investment in the IT startup ecosystem in Central Asia and support the growth of innovative companies. The establishment of the Sturgeon Emerging Opportunities II LP fund highlights the potential for technological development and entrepreneurship in the region, particularly in sectors such as fintech and software. It also demonstrates the growing interest and appetite for investment in Central Asian countries, with Kazakhstan being seen as an attractive entry point to the wider Central Asian market.
