14.10.2021

Kazyna Capital Management and Abu Dhabi Sovereign Wealth Fund establish Joint Venture Fund

Within the framework of the working visit of Askar Mamin, the Prime Minister of the Republic of Kazakhstan, to the United Arab Emirates, Kazyna Capital Management JSC (a subsidiary of Baiterek NMH JSC) and ADQ Abu Dhabi Sovereign Wealth Fund through their own DisruptAD Venture Platform agreed to establish ADQ-KCM Joint Venture Fund.

The Fund will focus on joint investment in innovative companies at early and later stages, as well as in enterprises with high growth potential and sustainable business models. The Fund's investment will be aimed at supporting projects that correspond to the missions of development institutions and respond to regional challenges.

The planned capitalization of ADQ-KCM Fund amounts to USD 100 million. The initial investment will amount to USD 50 million on a parity basis. Further investment in the Fund will be agreed upon by the partners as the initial funds are disbursed.

The Fund will investment in projects with the potential to introduce technological innovations for the digital transformation of industries. According to the basic terms of the Fund being established, projects will be in areas of IT, Fintech, agricultural technology, B2B and B2C, infrastructure technologies and telecommunications, food production technology, platform solutions and digital transformation.

Partnership with ADQ within the framework of the new fund will provide additional financial support for the development of the venture capital investment market in Kazakhstan and become a catalyst for the growth of investment flows between the countries.

Kazyna Capital Management JSC is a Private Equity Fund established in 2007, whose main mission is to develop private equity infrastructure in Kazakhstan to promote the sustainable economic development of Kazakhstan. It is a subsidiary of Baiterek NMH JSC. For more information, please, visit: https://kcm-kazyna.kz/

Abu Dhabi Development Holding Company - Abu Dhabi Sovereign Wealth Fund. ADQ Fund is widely represented in such sectors as manufacturing and mining, agriculture, transport and logistics, finance, tourism, media and energy. The Fund manages assets of more than USD 175 bln. For more information, please visit: https://adq.ae.