"Fund of Funds" began financing AI projects in Kazakhstan
ACM supports talent and creates critical AI infrastructure
Translated with AI from the Russian original.
The "Fund of Funds", managed by Alem Capital Management (ACM), has started investing in a number of projects. This was announced on the sidelines of the international technology forum GITEX AI Kazakhstan 2026, according to the press service of the Ministry of AI and Digital Development of Kazakhstan.
The head of the ministry, Zhaslan Madiyev, reminded that this step confirms the seriousness of the republic's technological ambitions. In October 2025, the "Fund of Funds" attracted investments of 115 million dollars (first close), 60% of which are funds from Kazakhstani businesses.
Currently, Alem Capital Management is developing 2 directions: the Alem Ventures Fund (AI startups) and the Alem Crypto Fund (digital assets). ACM not only supports promising projects but also creates critical AI infrastructure, including a network of data centers.
One of the goals of the "Fund of Funds" is to increase the capital volume to 1 billion dollars. This will give Kazakhstani entrepreneurs access to world-class expertise. The investment process is designed for 5 years. It will solidify the republic's status as the main investment hub in Central Eurasia.
