QIC and Gulf Capital PJSC have agreed to enter into a Strategic Partnership to jointly invest in Kazakhstan and Central Asia

The document was signed by QIC Deputy Chairman of the Board Gabbas Yerzhanov and Co-founder and Chief Executive Officer of Gulf Capital Dr. Karim El Solh. The targeted capitalization of the fund is $800 million. The parties agreed that QIC will act as an anchor investor whereas, the Fund has committed to invest twice the amount of QIC investments in Kazakhstani projects. Fund IV will consider investments in priority non-resource sectors of Kazakhstan's economy, such as technology and fintech, healthcare and healthtech, business services, logistics, consumer and sustainability sectors (including water and food security, agrotechnology and green energy). It is worth noting that historically investors of Gulf Capital are represented by MENA countries, Asia, Europe and North America. These include sovereign wealth funds, pension funds, family offices and funds of funds. Gulf Capital also plans to actively attract and train Kazakhstani specialists in the field of finance and investment, offering them internships in its offices in the UAE, which will ensure the transfer of best practices in the field of private equity and increase the country's human resources potential. The partnership between QIC and Gulf Capital will contribute to the development of Kazakhstan's economy and help attract international investors to the country. Reference: Qazaqstan Investment Corporation JSC is a state-owned fund of private equity funds, established in 2007, whose main mission is to develop the infrastructure of direct investment and venture capital in Kazakhstan in order to promote sustainable economic development of Kazakhstan. It is a subsidiary of Baiterek NMH JSC. See additional information on https://qic.kz/ru Gulf Capital is an operationally focused private equity firm with over 18 years of investment experience from the GCC to the rest of Asia, one of the fastest growing investment corridors in the world today. Gulf Capital partners with dynamic entrepreneurs and exceptional management teams to provide them with growth capital, strategic advice, and operational expertise to build market leading global businesses. The Firm has a long and proven track record of investing in Growth Markets, having closed 45 investments since 2006. It currently manages over $2.4 billion in assets across seven funds and investment vehicles. As a thematic investor, Gulf Capital focuses on resilient, forward-looking sectors such as Technology and Fintech, Healthcare, Business Services, Consumer, and Sustainability. Its mission is to build value with world-class governance and ESG best practices, deep focus on operational improvements and sectoral expertise to generate sustainable and superior performance for its key stakeholders.