ALMATY, Kazakhstan and NEW YORK, April 12, 2023 (GLOBE NEWSWIRE) -- Oxus Capital, the pioneering investment company driving Central Asia’s first SPAC, unveiled today plans to launch a new visionary fund worth $200 million, and will start raising capital in the incoming weeks.
The Oxus Visionary fund will be aimed to promote a greener and more equitable planet through impactful investments that disrupt traditional practices. It will prioritize backing innovative companies focused on sustainability and a fairer world, with a special emphasis on renewable energies, clean technologies, climate-smart agriculture, ethical supply chains, and food tech.
The vehicle is expected to be fully operational by 2024.
Oxus Capital already made history as the originator of the first Central Asian SPAC, Nasdaq-listed Oxus Acquisition Corp. (NASDAQ:OXUS), which raised $172.5 million in 2021. It recently announced a Business Combination Agreement with Borealis Foods Inc., an innovative food technology company that has developed a high-quality, affordable, sustainable, and highly nutritious range of plant-based, ready-to-eat meals, sold in the U.S. and Canada.
The transaction valued Borealis at an equity value of $150 million and is expected to close during the third quarter of 2023.
Oxus Capital is led by Kanat Mynzhanov and Askar Mametov. With headquarters in Almaty and partners in New York, London, Dubai, and New Delhi, the firm is well-positioned to showcase Central Asia's untapped potential in the global markets.
By focusing on impact investments that align with the United Nations' Sustainable Development Goals, Oxus Capital aims to create a lasting, positive impact on its region of origin and beyond. “We believe in investing in people first, so each person can contribute significantly to solving global challenges,” said Mynzhanov.
Both Mynzhanov and Mametov have two decades of experience in the world of investment management and in large global corporations.
After years of working in the investment unit of blue chip corporations, Mynzhanov successfully launched Bellprescot Prime Fund in 2016, participated in private equity deals in fintech and mobility industries, and led relevant projects in metals and mining, rare metals, and alternative energy. At the moment, he also serves as the CEO of Oxus Acquisition Corp.
Mametov was formerly the CFO of KM Gold Inc., a public Kazakh gold mining company, and a financial controller at Sequa Petroleum Kazakhstan, a subsidiary of Sequa Petroleum, an oil and gas company listed on Euronext Access.
With the launch of its new Visionary Fund, Oxus Capital is poised to leverage its experience and expertise to drive innovation and growth across the region.
"Our team's diverse background and experience allows us to understand and navigate the unique cultural and business landscapes of both the Western and Eastern worlds,” Mynzhanov added.
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