TLDR:
- Entrepreneurs Kenges Rakishev and Aselle Tasmagambetova invest in new venture firm BYB Capital to boost tech startups in Kazakhstan.
- BYB Capital will support early-stage B2B software companies and focus on sectors like agriculture, logistics, and energy security.
Article Summary:
Entrepreneurs Kenges Rakishev and Aselle Tasmagambetova have announced their investment in a new venture capital firm called BYB Capital, with the aim of boosting technology startups in Kazakhstan and supporting their growth and international expansion. The new corporation will focus on supporting early-stage B2B software enterprise companies in Central Asia and the Caucasus, as well as facilitating trans-border and U.S. market expansion. BYB Capital, headquartered in Almaty, Kazakhstan, with partner offices in California and New York, will invest in companies ranging from pre-seed/seed to Series A stage, specifically targeting sectors like agriculture, logistics, natural resources, and energy security.
The firm’s managing partner, Askar Bilisbekov, a Stanford Graduate School of Business alumnus with extensive experience in Kazakhstan’s business sector, will be responsible for day-to-day operations. The founders believe that now is the right time to boost the local startup ecosystem and create bridges with global markets. BYB’s approach includes mentoring, knowledge sharing, and access to a global network, with a strong commitment to environmental, social, and governance principles.
BYB Capital is incorporated at the Astana International Financial Centre in Astana to leverage Kazakhstan’s financial and innovation ecosystem. The venture capital firm is a follow-up to the successful “Build Your Own Business” competition started by the Saby Foundation a decade ago. The competition, supported by Rakishev, Tasmagambetova, and global investor Vyacheslav Kim, aimed to create companies by local professionals in Kazakhstan. The launch of BYB Capital signifies a new phase in supporting Kazakhstani entrepreneurs to scale up their projects and reach a new level of development.
Kenges Rakishev, a prominent investor in natural resources and technology companies, and Aselle Tasmagambetova, a leading philanthropist and ecologist in Kazakhstan, are spearheading this initiative to accelerate the growth of the tech startup ecosystem in Kazakhstan. Their combined expertise and experience are expected to drive the success of BYB Capital and contribute to the development of the local entrepreneurial landscape.
