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National Managing
Holding "Baiterek"

JSC «Kazyna Capital Management»


Mission of «Kazyna Capital Management» JSC is to provide share capital to companies at various stages of growth, directly through private equity funds and in association with other investors in order to facilitate sustainable economic development.

Main activities
  • Contribution towards realization of government programs through the creation of infrastructure for direct investments through equity participation in national and international investment funds and project companies;

  • Attracting major institutional investors to Kazakhstan, as well as stimulation of national investors to jointly finance non-energy economy sectors through investment funds;

  • Attraction of leading international organizations and holding companies with decades of experience and stable earnings as strategic partners;

  • Selection of the most attractive foreign assets, from the viewpoint of Kazakh economy, through the mechanism of equity participation in multinational investment funds and project companies.

Strategic plan until 2023
  • Funding of investment projects through private equity funds;

  • Attraction of foreign investments to Kazakhstan.

Current projects

«Kazyna Capital Management» JSC – is a quasi-public company and participant of private equity market. Since 2007, «Kazyna Capital Management» JSC created 12 private equity funds, 10 of which perform investment activities in the Republic of Kazakhstan. Scope of projects financed by these funds is fairly wide: from providing support to SME’s to making investments in major infrastructure projects.
1. Aureos Central Asia Fund;
2. Falah Growth Fund;
3. Kazakhstan Growth Fund;
4. Kazakhstan Infrastructure Fund;
5. CITIC Kazyna Investment Fund I;
6. ADM Kazakhstan Capital Restructuring Fund;
7. Russian-Kazakhstan Nanotechnology Fund;
8. Islamic Infrastructure Fund;
9. Baiterek Venture Fund;
10. Almex-Baiterek Fund.

Management structure

Full name


Responsible for


Ardak Kassymbek

Chairman of the Board


Timur Beguliev

Deputy Chairman of the Board

Treasury, budget planning and operating


Aset Sagimbekov

Deputy Chairman of the Board

Investment unit


Address: Republic of Kazakhstan, Z05T2H3, Astana, Yesil District, Mangilik El av., 55A


Open hours: с 9:00 до 18:30