Qazaqstan Investment Corporation, formerly Kazyna Capital Management, has operated since May 2007 as a fund-of-funds under the National Managing Holding Baiterek. It was created to support economic diversification in Kazakhstan and the broader Central Asian region by attracting domestic and foreign capital. Through participation in 18 private equity funds with combined capitalization of $2.8 billion, it has backed 120 initiatives, generated over 23,000 jobs, drawn $408 million in foreign financing and contributed $119.5 million in tax revenue.
All of the corporation’s activities target non-resource industries that match the country’s development goals, with particular emphasis on healthcare, agriculture and food security, green energy, and innovative technologies. It provides funding to a spectrum of businesses—from micro and small enterprises to large, city-forming projects—partnering with regional and international investors to manage growth-driven funds. By channeling capital where it can strengthen regional infrastructure and spur technological progress, QIC plays a central role in advancing sustainable economic growth across Central Asia.
Clean energy projects form a significant part of QIC’s portfolio. Notable examples include the 50 MW Baikonur and 10 MW Kengir solar plants and a 100 MW wind facility developed for EXPO-2017, investments that support emissions cuts, boost fuel savings and contribute to the nation’s carbon neutrality targets. Regional gasification projects have improved access to cleaner energy in Astana and northern Kazakhstan. Through a joint investment vehicle with CITIC Capital, QIC has also modernized power grids via Central Asian Electric Power Corporation. Details on direct backing of battery storage technologies are not publicly highlighted.
