Transparency as Strategy: How Kazakhstan’s Venture Funds Are Stepping onto the Global Stage

A new generation of Kazakhstani investors is choosing transparency, legal maturity, and global competitiveness — and not just in words, but in practice.

According to data from RISE Research, venture investment in Kazakhstan reached $71 million in 2024. More than 200 projects with roots in Central Asia are now operating abroad — and local funds are following them into global markets.

Among the most active players are Big Sky Capital, Silkroad Angels Club, and FutureMED Ventures KZ (USA), Eurasian Hub Ventures (UK), and EA Group (Spain, in partnership with Plug and Play).

Transformation through Adaptation

For these emerging funds, selecting an international jurisdiction is a strategic decision. The goal: to operate within a mature legal environment and build trust with global LPs.

“We structure deals in Delaware because it offers a leading legal infrastructure for startups and venture capital — transparent rules, minority protection, and strong liquidity,” says Abay Absamet, Managing Partner of Silkroad Angels Club.

Adil Nurgozhin, co-founder of Big Sky Capital, highlights that setting up the fund abroad was a requirement from international LPs.

“Our aim was to build a global platform that could work with startups around the world, attract LPs from different countries, and operate in a legally and institutionally mature environment,” says Adilbek Kamiev, Head of Venture at EA Ventures (EA Group).

Spain was chosen for its tax incentives and vibrant startup ecosystem. For Nurdaulet Bazylbekov, founder of Eurasian Hub Ventures, London was a natural choice — he spent most of his international career there and understands the regulatory and investor landscape.

Expanding internationally requires more than registering an entity — it demands deep adaptation to local business norms and expectations.

EA Ventures has tailored its strategy to fintech, AI, e-commerce, and sustainable tech. Eurasian Hub Ventures highlights the maturity of UK founders and the speed at which pre-seed deals are closed.

How the New Funds Operate

Big Sky Capital has already closed 29 deals and is preparing to launch its second fund.

Silkroad Angels Club has backed 20 tech startups, many of which have gone on to raise capital from top-tier Silicon Valley funds. The minimum ticket size per deal is $10,000, with each angel making independent investment decisions.

Eurasian Hub Ventures has invested in over 10 projects, including personal angel investments by Bazylbekov — some of which have already exited.

EA Ventures is finalising its first investments and aims to attract LPs globally.

What’s Next?

Kazakhstani founders are increasingly raising capital from international funds, while local GPs are building global expertise.

“There are now several VC funds in the US led by Kazakhstanis who have made it onto the global venture stage,” says Bazylbekov. “Ultimately, the key metric for any fund is the ability to invest early in future unicorns.”