Concessional Financing Program involving second-tier banks for small and medium enterprises out of the funds of “Kazyna Capital Management” JSC through the “Baiterek Venture Fund” JSC
General conditions of the Program:
Program goal | Ensuring the sustainable and balanced growth of entrepreneurship through the development of direct investment in capital of small and medium enterprises |
Objectives |
|
Developer | “Kazyna Capital Management” JSC |
Operator/Fund | “Baiterek Venture Fund” JSC (hereinafter the “Fund”) |
Investment geography | Companies in the territory of the Republic of Kazakhstan (hereinafter the “Companies”) |
Investment amount | Up to 1 000 000 000 (one billion) tenge and including |
Financing currency | Tenge |
Participation interest of the Fund | Up to 49% and including |
Final rate of return | No more than 8% per annum ex capitalization |
Investment term |
|
Appropriate use of Fund investments |
|
Investment instruments | Acquisition of participating interest shares in the Companies authorized capital with the option executor’s liability under an options agreement |
Investment recovery security instruments | Options agreement conclusion and the second-tier bank guarantee as security for the liabilities of option executor under the options agreement |
Investment restrictions |
Investments cannot be allocated to:
Investments cannot be allocated to:
Investments can be allocated only to specific priority sectors of economy. |
Requirements to Companies |
|
For details refer the Partner’s website: | Concessional Financing Program BVF |