Kazakhstan Launches Venture Fund To Support Technology Startups


(MENAFN- Trend News Agency) ASTANA, Kazakhstan, March 3. A new venture fund bybcapital has been launched in Kazakhstan to support technology startups in Kazakhstan and other countries around the world, Trend reports.

According to information from the Sabi fund, the first investors in bybcapital will be entrepreneurs Kenes Rakishev and Asel Tasmagambetova.

Thus, bybcapital will support start-up B2B-SaaS companies focused on Central Asia/Caucasus, cross-border expansion, and entry into large markets such as the US and Europe.

The managing partner of the firm will be Askar Bilisbekov, a graduate of the Stanford Graduate School of Business with extensive experience in Kazakh business and the corporate sector.

"At bybcapital we don't just invest in startups, we invest in the future of Kazakhstan and the entire region. Our mission is to develop the next generation of technology leaders and entrepreneurs by providing them with the resources and support they need to succeed on a global scale," said one of the investor, Kenes Rakishev, commenting on the launch of the company.

It was noted that bybcapital is committed to leveraging the extensive experience and networks of its founders to propel Kazakh and Central Asian startups to global success, with a focus on innovation and sustainable growth.

Based at the Astana International Financial Center (AIFC) in Astana, bybcapital will seek to make best use of Kazakhstan's financial and innovation ecosystem, benefiting from the AIFC's regulatory framework and business-friendly policies.

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