The startup ecosystem in Kazakhstan is shaping at an incredible speed, supported by a recent wave of venture capital activity. The country has recently become number one in the volume of venture deals in Central Asia, Europe and the Caucasus; more than a fivefold increase in the volume of venture capital financing in the last five years. To assist entrepreneurs, we have compiled an extensive list of venture capital investors and handpicked for you the top 10 venture capital firms in Kazakhstan. You can find more information about investment opportunities here.
Here's a table that summarizes the overall VC data for a quick overview:
| VC Firm | Ticket Size | Stages | Founding Year |
|---|---|---|---|
| Tumar Venture Fund | $50,000 to $500,000 | Pre-seed to Series C | 2021 |
| Quest Ventures | $500,000 to $1 million | Early Revenue, Growth | 2011 |
| Plug and Play Tech Center | $100,000 to $150,000 | Seed, Early Stage | 2006 |
| Big Sky Capital | $50,000 to $500,000 | Prototype, Early Revenue | 2022 |
| bYb Capital | Undisclosed | Early-stage | 2024 |
| Baring Vostok Capital | $10 million to $200 million | Growth, Expansion | 1994 |
| AltaIR Capital | $100,000 to $5 million | Seed and early stages | 2010 |
| DOMiNO Ventures | $100,000 to $1 million | Prototype, Early Revenue | 2021 |
| RTP Global | $1 million to $10 million | Seed and early stages | 2000 |
| Almaz Capital | $2 million to $10 million | Series A, Series B | 2008 |
1. Tumar Venture Fund
Tumar Venture Fund is an early-stage VC fund that is managed by White Hill Capital Ltd. They invest between $50k and $500k in fast-scaling startups from all over the world. Supported by the World Bank and Kazakhstan's Ministry of Digital Development, it focuses on industries such as agri-tech, fintech, health-tech, and e-commerce. Having raised a $20–$50M fund, Tumar invests in founders affiliated with Kazakhstan or global entrepreneurs with experience in structuring a deal, capital markets, and scaling innovations.
- Website: tumar.vc
- Founding Year: 2021
- Investment Range: $50,000 to $500,000
- Stage: Pre-seed, Seed, Series A, B, C
- Sector: Agri-tech, E-commerce, Logistics, Fintech, Health-tech
- Geography: Kazakhstan and global
- Notable Investments: CodiPlay, PLATMA, zypl.ai, Garderob, JobEscape
- Submit Pitch/ Contact: Link
2. Quest Ventures
Quest Ventures is a premier VC operator that invests in startups that drive the digital economy in key sectors such as AI, e-commerce, finance, and logistics. They are focused on creating a global impact while supporting more than 100 portfolio companies in over 150 cities worldwide. Beyond capital, Quest drives innovation for enterprises and champions social good through initiatives in financial inclusion, healthcare, and education-building a sustainable future.
- Website: questventures.com/
- Founding Year: 2011
- Investment Range: $500,000 to $1 million
- Stage: Early Revenue, Growth
- Sector: Scalable internet communities
- Geography: Asia, including Kazakhstan
- Notable Investments: Carousell, 99.co, ShopBack, Carro, Glife
- Submit Pitch/ Contact: Link
3. Plug and Play Tech Center
Plug and Play is a leading global innovation platform that connects startups, corporations, and investors to drive meaningful change across industries. With a presence in 60+ locations, they support 90,000+ startups in fields such as fintech, health, mobility, and sustainability. Known for fostering open innovation, Plug and Play partners with forward-thinking businesses and they offer acceleration programs, investments, and a strong ecosystem that will be the epicenter for where the future of technology and entrepreneurship will begin.
- Website : plugandplaytechcenter.com/
- Founding Year: 2006
- Investment Range: $100,000 to $150,000
- Stage: Seed, Early Stage
- Sector: Agri-tech, Energy, Fintech, Animal Health, Deeptech
- Geography: Global, including Kazakhstan
- Notable Investments: PayPal, Dropbox, LendingClub, N26, Honey
- Submit Pitch/ Contact: Link
4. Big Sky Capital
Big Sky Capital is a Kazakhstani VC firm, headquartered in Astana. The fund targets early-stage investments in innovative startups from multiple sectors which includes media, productivity software, and horticulture. So far, the fund has made 15 investments. Big Sky Capital invests in entrepreneurs who seek to bring game-changing solutions. VC of the Year just recently, Big Sky Capital is a significant player in the Kazakhstani startup ecosystem and a driver of global innovation.
- Website: bigskycapital.co/
- Founding Year: 2022
- Investment Range: $50,000 to $500,000
- Stage: Prototype, Early Revenue
- Sector: B2B SaaS, Fintech, Medtech, Agritech, Industrial Tech, Web3, AI
- Geography: Kazakhstan, Singapore
- Notable Investments: Cattle Care, Key Caliber, Boom Grow, Kidle
- Submit Pitch/ Contact: Link
5. bYb Capital
BYB Capital is a VC fund investing in early-stage startups, from pre-seed to pre-Series A. Having a focus on global expansion, the firm is backed by the success of the "Sabi" project. BYB supports ventures in sectors like agrotech, e-commerce, medtech, and climate tech, focusing on ESG-driven projects. BYB shares its expertise and global network to enable founders to be successful players on the world arena.
- Website: byb-capital.com/
- Founding Year: 2024
- Investment Range: Undisclosed.
- Stage: Early-stage
- Sector: Technology startups
- Geography: Kazakhstan
- Notable Investments: uVu
- Submit Pitch/ Contact: Link
6. Baring Vostok Capital Partners
Baring Ventures is a venture capital firm that manages private equity funds of 5.5 billion dollars. They back entrepreneurs in scaling businesses to long-term success across Europe, Central Asia, and the Americas. Powered by sustainability and transparency, they happen to be one of the global investors apart from pension funds and sovereign wealth funds. The firm has listed an array of companies on stock exchanges hence standing out in nurturing remarkable ventures.
- Website: baring-vostok.com
- Founding Year: 1994
- Investment Range: $10 million to $200 million
- Stage: Growth and expansion stages
- Sector: Consumer products, media, technology, telecommunications, financial services
- Geography: Kazakhstan, Russia and CIS
- Notable Investments: Yandex, Ozon.ru, CTC Media, Tinkoff Bank, VkusVill
- Submit Pitch/ Contact: Link
7. AltaIR Capital
AltaIR Capital is a venture capital fund investing globally in early to growth-stage startups with disruptive ideas. With $600M under management, their investment focus spans AI, SaaS, FinTech, InsurTech, Digital Health, and Productivity Tools. They support driven teams with scalable business models and impressive product vision, AltaIR Capital looks for game-changing innovation with high return prospects, from idea stage to successful exits.
- Website: altair.vc
- Founding Year: 2010
- Investment Range: $100,000 to $5 million
- Stage: Seed and early stages
- Sector: Software, SaaS, information technology
- Geography: Global
- Notable Investments: Miro, PandaDoc, Turing, Scentbird, Guesty
- Submit Pitch/ Contact: Link
8. DOMiNO Ventures
DOMiNO Ventures is a Netherlands-based VC fund that invests in high-tech, digital-first startups rooted in Eastern Europe, Central Asia, and the Caucasus. Operating globally from offices in Amsterdam, Istanbul, and beyond, they back founders solving modern challenges in AI, DeepTech, CleanTech, HealthTech, and more. With a strong focus on sustainability and impact, DOMiNO is dedicated to creating a "DOMiNO Effect" by fostering global innovation for a better future.
- Website: dominovc.com/
- Founding Year: 2021
- Investment Range: $100,000 to $1 million
- Stage: Prototype, Early Revenue
- Sector: AI, Deeptech, Fintech
- Geography: Kazakhstan, Azerbaijan
- Notable Investments: Picogrid, Gamer Arena, PointAI, Hirize, Atlas Space.
- Submit Pitch/ Contact: Link
9. RTP Global
RTP Global is a VC firm that supports bold founders in building transformational companies. With more than $3 billion in assets and teams in the USA, Europe, and Asia, RTP invests in early-stage companies. They focus on B2B and B2C tech sectors, including AI, fintech, and health. Renowned for long-term partnerships, they have helped create unicorns such as Datadog and Delivery Hero. RTP is far beyond capital; they are believers in realizing true potential.
- Website: rtp-global.com
- Founding Year: 2000
- Investment Range: $1 million to $10 million
- Stage: Seed and early stages
- Sector: Technology, internet, software, fintech
- Geography: Global, including Kazakhstan
- Notable Investments: Yandex, Delivery Hero, Cred, Datadog, RingCentral
- Submit Pitch/ Contact: Link
10. Almaz Capital
Almaz Capital is an early-stage VC firm, which invests in technology startups from Central and Eastern Europe, targeting global markets. Having a bridge between Berlin and Silicon Valley, it funds and supports founders strategically in scaling their businesses internationally. Supported by the EIF and EBRD, Almaz Capital focuses on deep tech and supports ambitious entrepreneurs in creating impactful solutions and driving innovation worldwide.
- Website: https://almazcapital.com/
- Founding Year: 2008
- Investment Range: $2 million to $10 million
- Stage: Series A, Series B
- Sector: Software, IT, deep tech
- Geography: Central and Eastern Europe, including Kazakhstan
- Notable Investments: Mobalytics, Hover, Nomagic, 3DLOOK, Acronis
- Submit Pitch/ Contact: Link
FAQ (Frequently Asked Questions)
- Is VC high risk?
Venture capital is a type of investment that can be risky but has the potential for high returns. However, there is no guarantee of success. Investing in startups is always uncertain, and you might lose your money. Even though VC firms try to minimize risks, investing in startups is always uncertain, and you might lose your money. - What is the best country in Europe to set up a VC fund?
Luxembourg is ideal for setting up a VC fund in Europe due to its investor-friendly regulations, diverse investment vehicles, and a strong financial sector that supports local and foreign investors. The country's tax efficiency and stability further make it a preferred choice. - Which European cities have the most VC investments?
The top cities for VC investments in Europe are London, Paris, Berlin, Amsterdam, and Stockholm. London leads with $22.67B in 2023, followed by Paris and Berlin. These cities are known for strong startup ecosystems and significant funding opportunities. - What is the minimum amount for a VC fund?
Venture capital funds usually ask for a minimum investment of $250,000 to $500,000, and sometimes even more. Investing a small amount of money can still cost a lot. These funds are usually only open to wealthy people and big organizations that have a lot of money. - How do I choose a VC fund?
To choose a VC fund, check how much experience and success the venture capital firm has had before. Look at the companies they’ve invested in before to see if they match what your business does. This can help you figure out if they’re a good match for you.
Best of luck with your amazing ventures.
Please note that this list is filtered by various metrics, and all the data are collected through various third-party websites, mostly the VC website. Since data such as ticket size or industry may change, you are requested to visit the official website given in the blog for the latest and updated information.