JSC National Innovation Fund out of the venture fund Advant with a profit of KZT50 million

/IRBIS, July 22, 2010/ - JSC National Innovation Fund "out of the venture fund" Advant "in 2010 with a profit of nearly 50 million tenge, the news agency reported today," News of Kazakhstan ", with reference to the statement by the Chairman of the Board of JSC" National Innovation Fund" Mr. Aydin Kulseitov. "We go out of one of the funds this year, the amount of profit of about KZT50 million to be" - this statement Mr. A. Kulseitov made during the Board of the Ministry of Industry and new technologies. As indicated, the journalists, he explained that this fund is "Advant. "Venture Fund will finance three projects, which can not call until the completion of the transaction. Through one of these projects we have covered all their costs, a profit" - Mr. Kulseitov explained. According to him, "one project in the field of telecommunications covered all costs of the venture fund, and the outcome of the talk's participants in the Fund it was decided to close the fund at a profit." "This is the first example of successful from the beginning to the end of the classic out of the venture fund in Kazakhstan: all profits received on the account are legally completed," - he said. National Innovation Fund, together with the Kazakh investors created five venture capital funds: "Areket", "Advant", "Centras", "and Glotur Technology fund", Almaty venture capital". Since 2005, the National Innovation Fund is a shareholder in five foreign venture funds. [2010-07-22]