A new city investment fund — Creative Capital Fund — has been launched in Almaty. The fund aims to support creative industries such as game development, IT projects, architecture, design and digital media. The initiative is supported by the Almaty Akimat, Almaty Creative, Freedom Holding Corp. and VPE Capital Fund Management Limited.
Fund structure
The total volume of the fund is 21 billion KZT. Of this, 10 billion KZT will come from the city budget, while 11 billion KZT will be provided by private and foreign investors. The funds will be directed toward industries with high export potential — film and video production, animation, music, IT, GameDev, architecture and design.
Creative Capital Fund is registered at the Astana International Financial Centre and operates under English law. Its duration is ten years, with the first five years dedicated to the investment phase and the next five to post-investment development.
Developing the creative economy
The initiative is supported by the President of Kazakhstan and aligns with the national concept for the development of creative industries for 2021–2025. Currently, the creative sector accounts for less than 1% of the national economy, but the launch of the fund is expected to help increase this share and strengthen Almaty’s position as a regional hub for the creative economy.