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Qazaqstan Venture Group (QVG) has secured $115 million of investments.

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Qazaqstan Venture Group (QVG) has secured $115 million of investments.

We are pleased to announce that QVG (the general partner and manager of the fund of funds Alem Ventures Fund) has secured $115 million as part of the first closing. At this stage, initial investor commitments were secured, and the fund has commenced its investment activities. Capital was contributed by
Qazaqstan Investment Corporation, Freedom Holding Corp., Astana Hub, as well as a number of private investors.


The initiative to establish a national venture fund of funds was launched in December 2024 by the Prime Minister of the Republic of Kazakhstan together with the Ministry of Artificial Intelligence and Digital Development. Its goal is to boost the national venture ecosystem, attract private capital, and integrate the region into the global innovation economy.

Alem Ventures Fund is focused on building a diversified portfolio of institutionally robust funds across Central Asia and the Caucasus, as well as leading global venture funds, along with direct co-investments. In selecting managers, we place strong emphasis on institutional quality, transparency, strategy sustainability, and team expertise. Our goal is to enable access to world-class venture practices while accelerating development of the regional innovation ecosystem.”

Askar Bilisbekov, CEO of QVG

The launch of Alem Ventures Fund marks a new chapter for the venture capital market in Central Asia and the Caucasus. It is the region’s first institutional fund of funds, creating a systemic platform to support venture managers, elevate market standards, and strengthen the technology investment landscape. For global institutional investors, it also provides a new entry point into the region through a trusted local partner with deep market insight and a long-term strategic mandate.

Following its first closing, the fund of funds has officially entered its investment period and is conducting an open selection of venture funds in line with its mandate. The program aims to support fund managers investing in startups and technology companies connected to the region. Alem Ventures Fund also welcomes applications from First-Time Fund Managers who are raising their inaugural funds and can demonstrate institutional discipline, strategic relevance, and strong long-term ecosystem contribution potential.

Further information and the application form are available at alem.qvgvc.com. Applications may also be submitted via email at ir.ventures@qvgvc.com.

This announcement is for informational purposes only and does not constitute an offer or invitation to invest in Alem Ventures Fund LP.

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