QIC: Central Asia Is Transitioning to New Investment Models
Almaty, May 6, 2026 — JSC “Qazaqstan Investment Corporation” (QIC) took part in the annual Tansar Capital Investors Annual Meeting 2026, where it highlighted the ongoing transition of Central Asia’s investment market toward more structured models and platform-based solutions.
The statement was made during the panel session titled “The Role of Private Capital in the Development of Central Asia’s Investment Ecosystem,” featuring Gabbas Yerzhanov, Deputy Chairman of the Management Board of QIC, and Marcia Favale, Independent Director of the company.
According to Yerzhanov, the region remains underinvested but is gradually moving from one-off transactions toward the systematic development of the private equity and venture capital market.
“The key challenges include the limited number of fund managers with proven track records, insufficient market depth, and the need to build an infrastructure of trust,” he noted.
QIC emphasized that the role of institutional investors in the region is evolving: beyond providing financing, they are increasingly acting as market builders, supporting the development of management teams and attracting international capital.
The company participates in the management of investment funds, develops local investment teams, and supports the growth of the venture ecosystem, including through Alem Ventures Fund. Particular attention is also being given to international cooperation and the launch of new investment platforms, including the co-GP model.
With the support of its shareholder, JSC “National Investment Holding “Baiterek,” QIC allocated more than USD 1 billion to projects in the real sector of the economy in 2025.
Despite limitations associated with its status as a state-backed institution, the company stated that it remains committed to a sustainable growth trajectory and to expanding instruments for attracting private capital.
QIC is part of the Baiterek Holding structure and is one of the key development institutions focused on building the private equity and venture capital market in Kazakhstan and Central Asia.
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