Share capital of investment fund of risky investments "Venture fund Cetras" (Kazakhstan) created with the focus on commercialization of intellectual potential and breakthrough technologies

/CENTRAS SECURITIES JCS, March 30, 05, title of IRBIS/ - On March 15, 2005 the Agency for supervision and regulation of financial market and financial organizations registered share investment fund of risky investments "Ventur fund Centras". New venture fund was created by Centras company jointly with National Investment Fund of the Republic of Kazakhstan. Managing company of the fund is Centras securities, for which it is third funds under its management. The size of the capital of the Fund will total KZT2.6 bn ($20 m). Capital of the Fund will be used to finance technology-laced start-ups, which are at the banging stage of commercialization of innovation technologies and financing new innovation and high-tech projects. Priority industries for investments of the new Fund include semiconductor materials and technologies, biotechnologies, alternative energy, petrochemicals, mining and metal technologies, deep processing of natural and industrial raw materials and etc. Currently development of innovation economy in Kazakhstan faces several key problems: absence of financing of innovation projects by commercial banks, lack of experience of commercial development of innovation projects, lack of funds for proper security of intellectual property. Appearance of Centras venture fund solves this problem. Fund renders starting capital for Kazakhstan innovation projects for the sake of development of high-tech ideas and companies. Capital of the Fund will be directed towards realization of projects, traditionally ignored by commercial banks. Centras Managing company performs detailed due diligence of innovative projects, guarantees their commercial realization. Team of professionals has joined Centras from commercial banks of Kazakhstan and holds considerable experience in successful implementation of project finance. Venture fund Centras collaborates with National institute of intellectual property (NIIP) on related issues. As well a distinctive feature of the activities of a new fund is that it aims to cooperate with leading Kazakhstan science and reseach centers including Physic-technology institute (PTI), Institute for chemical sciences (ISC), Center for chenical-technology research (CCTR) and other. Venture fund Centras inked memoranda of cooperation with CCTR and ISC. Additional information may be received by telephone in Almaty 59 88 77 or cite of the company at the web address www.centrascapital.com General information: According to article 5 of the paragraph 45 of the Law "On investment funds" information about investment fund of risky investments cannot be published in mass media and be released in form visual ad. [2005-03-30]