QIC Participates in LEAP East 2026 International Forum in Hong Kong

Gabbas Yerzhanov, Deputy Chairman of the Management Board of Qazaqstan Investment Corporation JSC (QIC), participated in the LEAP East 2026 international technology forum, held in Hong Kong from July 8 to 10, 2026.

LEAP East is the first Asian edition of the global LEAP forum, bringing together leaders from the technology industry, investors, startups, businesses, and government institutions. This year, the forum welcomed more than 35,000 participants from 30 countries and regions, over 340 speakers, and 450 exhibiting companies. Discussions focused on artificial intelligence, fintech, robotics, biotechnology, smart cities, Web3, and digital transformation.

As part of the forum, Gabbas Yerzhanov spoke at the panel discussion, "The New Geography of Venture Capital: Building Cross-Border AI & Capital Corridors Between the US and Asia." Participants explored the latest trends shaping the global venture capital market amid the transformation of the technology landscape driven by artificial intelligence. Particular attention was paid to the increasingly cross-border nature of venture investment, the impact of geopolitical factors on investment flows, and new approaches to raising capital and building strategic partnerships that increasingly span multiple regions rather than being concentrated in a single technology hub.

During the discussion, the Deputy Chairman highlighted QIC's efforts to develop Kazakhstan's venture capital ecosystem. He noted that QIC currently acts as a Limited Partner in six venture capital funds with total investment commitments of USD 62 million, of which USD 40.7 million has been allocated under investment mandates for subsequent investment in Kazakhstan-based projects.

According to Gabbas Yerzhanov, these funds have already invested more than USD 6 million in 41 Kazakhstani IT startups. These include Surfaice, which develops AI agents for the construction industry; KenesAI, which develops analytics solutions for the retail and e-commerce sectors; and Cerebra AI, which specializes in AI-powered medical diagnostics.

The QIC representative also noted that Kazakhstan's venture capital ecosystem continues to demonstrate steady positive momentum, with artificial intelligence remaining its key growth driver. According to the RISE Research analytical report, "Startups and Venture Capital in Central Asia" (April 2026), Kazakhstani IT startups attracted USD 209 million in investment in 2025, excluding Higgsfield AI's separate USD 79 million funding round. Startups developing artificial intelligence solutions accounted for 81.6% of the country's total venture capital investment during the year.

"Today, venture capital has become truly transregional in nature, and Kazakhstan is not merely an observer but a full-fledged participant in this process. Our objective is to transform the success of individual companies into a sustainable model for long-term development by establishing systematic cooperation mechanisms with venture capital funds across the Middle East and North Africa (MENA) and Southeast Asia, while leveraging the Astana International Financial Centre (AIFC) as a jurisdiction that provides an effective platform for attracting regional capital. At the same time, we believe Kazakhstan's greatest opportunity lies in developing applied artificial intelligence solutions—creating products for specific industries based on existing AI models rather than competing directly with developers of frontier foundation models," said Gabbas Yerzhanov, Deputy Chairman of the Management Board of Qazaqstan Investment Corporation JSC.