LPs in Asia: Kazakhstan’s QIC tilts tech, targets regional funds

12.09.2024

The quasi-sovereign investor is penetrating deeper into Asia Pacific with an increasingly VC and technology-oriented mandate although the conservative DNA of an infrastructure investor persists Qazaqstan Investment Corporation (QIC), a private equity fund-of-funds set up by the Kazakhstan government, understands that with a growing appetite for both Asia and start-ups, entries must be tailored for each sub-market.

QIC cites Asia’s rapid industrialization, economic growth, favourable demographic trends, and status as a hub of innovation and technology among its main motivators. It also notes that many countries in the region have adopted export-oriented economic policies and implemented financial reforms, liberalizing their economies and encouraging foreign investment.

Crucially, the diversity driving this dynamism entails a patchwork of logistical gaps, disparities in digital connectivity, restrictive regulations, trade impediments, and variably skilled workforces. Investee business models must be adjusted to the specific conditions prevailing in each market. That means investors must not only know the market but go in with the right skills.

“Private equity plays a pivotal role in overcoming the challenges faced by businesses and investors seeking entry into the diverse Asia Pacific markets,” said QIC CEO Yerbolat Zholat.

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