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Gulf Capital, QIC to invest in Kazakhstan + Central Asia: Abu Dhabi-based private equity firm Gulf Capital inked an agreement with Kazakhstan’s state-backed private equity fund Qazaqstan Investment Corporation (QIC) to expand its portfolio companies to Kazakhstan, with support from QIC and Kazakhstan’s Baiterek, according to a QIC LinkedIn post. The partnership aims to attract foreign direct investment flows into Kazakhstan.
The agreement will see the entities set up a new fund, looking to raise USD 800 mn with QIC as an investor, according to the statement. The fund will “invest twice the amount of QIC investments in Kazakhstani projects,” the statement added.
Targeted sectors: Investments will target Kazakhstan’s priority non-resource sectors, including technology and fintech, healthcare and healthtech, business services, logistics, and sustainability, including water and food security, agrotechnology, and green energy.
That’s not all: Gulf Capital plans to also offer Kazakhstani specialists in finance and investment internships in its UAE offices, in a bid to ramp up the country’s human resources potential.
Gulf Capital has had its eyes on Kazakhstan: “We have several companies operating [in Kazakhstan] in sectors such as water management, environmental services, and fintech,” Gulf Capital CEO Karim El Solh said earlier this month, adding that the firm wants to bring in healthcare, health tech, and fintech companies. “This is a large and rapidly growing market. I’m particularly impressed with the region’s economic diversification and momentum,” El Solh said.
