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500 Startups venture fund to invest in Kazakhstan

11 December 2019 11:11

SAN FRANSISCO. KAZINFORM Baiterek National Management Holding expands its collaboration with Silicon Valley, its press service reports.

QazTech Ventures JSC, the holding subsidiary, and the 500 Startups, the global venture capital seed fund, signed in San Francisco an agreement on QazTech Ventures JSC accession into the V Global Fund.

The signing ceremony took place on December 10 as part of the Kazakh PM’s visit to the US.

The agreement provides for QazTech Ventures JSC participation in the V Global Fund up to USD 10 mln with further backing of Kazakhstani startup projects.

Besides, 500 Startups is interested in cooperation with QazTech Ventures in building a separate thematic fund focused on Kazakhstan.

500 Startups was founded in 2010 in Silicon Valley. It built 21 funds, including five global funds to invest in startups worldwide, 15 thematic funds.

Its thematic funds invest targetedly in Singapore, Thailand, Vietnam, South Korea, Japan, Israel, Turkey, Brazil, Mexico, Canada, etc.