Tumar Venture Fund

Overview

Established in 2021, Tumar Venture Fund is an early-stage venture capital fund based in Kazakhstan. The fund was created as part of the Fostering Productive Innovation Project, a collaboration between the World Bank and the Ministry of Digital Development, Innovation, and Aerospace Industry of the Republic of Kazakhstan. It is registered with the Astana International Financial Centre (AIFC) and managed by White Hill Capital Ltd. The fund's size is up to $50 million, with an investment period of 4 (+1) years and a total duration of 8 (+2) years. Tumar Venture Fund focuses on investing in startups at various stages, including Pre-Seed, Seed, Series A, Series B, and Series C. The fund primarily targets sectors such as FinTech, E-commerce, EdTech, HealthTech, AgriTech, and LogiTech. It accepts applications from startups structured in Kazakhstan or internationally, provided they align with the fund's investment criteria. The minimum investment size is $50,000, with a maximum of $500,000, and the fund aims to invest up to 15% of its total size in any single startup. The fund's strategy emphasizes supporting startups that have achieved product-market fit, established sales in their home markets, and demonstrated scalability. Tumar Venture Fund has invested over $10 million in approximately 14 startups, with plans to raise additional capital to reach a total of $30-35 million. The fund is managed by White Hill Capital Ltd, which has experience in private equity and venture capital, as well as in banking investments. The fund's leadership includes Aslan Sultanov, who has been instrumental in its establishment and growth.

Investment Focus

• Startups with a working product and confirmed demand
• Startups with scalable business models
• Startups at Seed and Pre-A stages

Portfolio Companies