Bank CenterCredit JSC and National Innovation Fund JSC created in Kazakhstan new venture fund - JSIFRI Center Capital

/KASE, February 7, 06/ - Bank CenterCredit JSC (Almaty, hereinafter - Bank), whose shares and bonds are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, today spread press release, which informs about creation of new venture fund in Kazakhstan. Jointly with the Bank and National Innovation Fund JSC (NIF JSC) joint stock investment fund of risky investing Center Capital was created with authorized capital in KZT2.7 bn. Aim of activity of JSIFRI Center Capital is attraction of investments in projects with high potential of growth, whose activity is directed at creation and commercialization of innovations, and also transfer and borrowing of advanced and innovational technologies. "One of advantages for project companies in such investing of projects is experience and consultative support from leading specialists in the field of investing and management of project", - the message says. The press release notes, that development of long term investment financing is one of the most efficient key factors for financing of big capital-intensive projects, and further the Bank plans considerably to expand volumes of investment financing. In the period from 2003 to 2005 NIF JSC have created on the territory of Kazakhstan five venture funds: Fund of high technologies Areket, Venture fund Advant, JSIFRI Venture fund Sentras, Halyk Private Equity JSC and JSIFRI Glotur Technology Fund, and also executed investments in existing foreign venture funds Wellington Partners Ventures III Technology Fund L.P., Central-Asian small enterprises fund for (CASEF, USA), Flagship Ventures Fund 2004, L.P. (USA). [2006-02-07]