Samruk-Kazyna Invest

What Samruk-Kazyna Invest does

Samruk-Kazyna Invest (ТОО «Самрук-Қазына Инвест») is the direct investment subsidiary of the Samruk-Kazyna National Welfare Fund, a Kazakhstan-based sovereign wealth fund with approximately $70 billion in assets under management that ranks among the TOP-20 sovereign wealth funds globally. Established on July 20, 2007, originally to provide expert support for the parent fund's investment activities, the company was repositioned in 2012 as a project financing vehicle focused on import substitution and competitive goods production in the Republic of Kazakhstan. The company holds long-term issuer default ratings of BB (Stable Outlook) from Fitch Ratings and operates from a single headquarters in Astana.

The firm's core product is its investment service: it co-invests pari passu with strategic partners in Kazakhstan-based projects, typically taking up to 49% equity stakes, across priority sectors including mining-metallurgy, manufacturing (machine-building, light industry, food industry), renewable energy, coal, agro-industrial complex, and financial services. Investments are sourced through direct outreach, government referrals, and international investment forums and are executed via a structured three-stage process — concept approval, comprehensive due diligence with term sheet, and formal joint development agreement. The company does not operate a technology product or platform, charge publicly disclosed fees, or sell services beyond project-level equity co-investment and portfolio management.

Over 2014-2021, Samruk-Kazyna Invest deployed approximately 33 billion KZT across 14 projects, financed through 23 billion KZT in charter capital contributions from the parent fund and 10 billion KZT from the company's own funds. Under a new Development Strategy approved on June 15, 2021 covering 2021-2030, the firm has pursued active international partnership expansion — particularly with China, Azerbaijan, Kenya, Vietnam, and Denmark — with multiple MoUs, term sheets, and shareholder agreements signed in 2026 targeting UAV localization (Shenzhen Tianying), smart water meters (Goldcard Smart Group), EV manufacturing (Geely), high-tech medical devices (SMT, Ewpartners), battery energy storage (Gotion High-Tech), wind power (SANY Renewable Energy), and port infrastructure (CCCC, AZCON). An SK-AIH joint investment fund with Azerbaijan Investment Holding was also established in July 2026.

Name

Samruk-Kazyna Invest

Legal name

ТОО «Самрук-Қазына Инвест»

Website

https://skinvest.kz

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

Direct investment subsidiary of Kazakhstan's ~$70 billion Samruk-Kazyna National Welfare Fund, co-investing up to 49% pari passu with strategic partners in priority-sector projects spanning mining, manufacturing, renewable energy, agriculture, and financial services within Kazakhstan.

Ownership category

akta.pro rank

Product category

Sovereign Direct Equity Investment

NAICS

Other Financial Vehicles (525990), Other Investment Pools and Funds (5259), All Other Financial Investment Activities (52399)

SIC

Investors, Nec (6799), International Affairs (9721)

akta.pro primary industry

Multi-Sector / Generalist Growth Equity (FSANACAO)

akta.pro secondary industries

Infrastructure & Project Finance Advisory (BPAHADAO), Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG), Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG), Private Sector & Blended Finance Arms (IFC-type) (BPADACAJ)

Keywords

• Sovereign equity investment
• Direct co-investment partnerships
• Foreign direct investment facilitation
• Project financing services
• Strategic investor partnerships

Headquarters

HQ city

Astana

HQ country

Kazakhstan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Direct Equity Investment Returns: Samruk-Kazyna Invest generates returns through equity participation in project companies in Kazakhstan. The company co-invests with strategic partners in priority sectors (manufacturing, renewable energy, agriculture, mining, financial services) and earns returns through dividends, capital gains, and asset value appreciation. Funding comes from the parent fund's equity contributions and the company's own funds.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Samruk-Kazyna Invest is a wholly state-owned investment company that attracts foreign direct investment and co-invests directly in projects in the Republic of Kazakhstan alongside strategic partners, on a Pari Passu basis with up to 49% equity participation. It finances projects that promote import substitution and competitive goods and services production across priority sectors including manufacturing (machine-building, light industry, food industry), mining-metallurgical, coal, renewable energy, agro-industrial complex, and financial services. The investment process follows a structured three-stage approach: project concept approval with a partner, comprehensive Due Diligence and Term Sheet signing, and project implementation through a formal joint development agreement.

Product overview

Samruk-Kazyna Invest is a single-purpose investment company operating as a wholly-owned subsidiary of the Samruk-Kazyna National Welfare Fund. The company does not offer a technology product or platform; rather, it provides direct investment services, structuring equity participation in project companies, conducting due diligence on investment opportunities, and managing investment portfolios in priority sectors of Kazakhstan's economy including manufacturing, machine building, light industry, and food industry. The sole product offering is investment financing and portfolio management services for Kazakhstan-based projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Direct Equity Co-Investment Services Direct equity participation in Kazakhstan-based projects alongside strategic partners, providing up to 49% equity stakes on a Pari Passu basis in sectors including mining-metallurgical, mechanical engineering, coal, renewable energy, agro-industrial complex, manufacturing (machine-building, light industry, food industry), and financial services. Investment proceeds through concept approval, Due Diligence and Term Sheet, and joint development agreement. Targeted at international and domestic strategic investors and corporations.

Quantifiable outcome

• 33 billion tenge invested in 14 projects over 2014–2021
• +2 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

18 partnerships are on record, tiered core, minor and moderate.

• Azerbaijan Investment Holding (AIH)coreStrategic or Co-development Partner · 29 July 2026SK Invest's CEO met Azerbaijan's Minister of Economy Mikail Jabbarov and AIH Chairman Ruslan Alikhanov to discuss the SK-AIH joint investment fund. The fund's investment management on the Kazakhstan side is handled by SK Invest's investment team. Both parties confirmed interest in developing joint initiatives for long-term economic impact.
• GeelycoreStrategic or Co-development Partner · 18 July 2026SK Invest CEO Saken Pirmakhanov, as part of a Kazakh delegation, visited Geely's full-cycle EV manufacturing plant near Ningbo, China. Modern production facilities, automated assembly lines, and innovative automotive solutions were presented. Both parties discussed next steps for a joint project in the electric vehicle industry.
• SMTcoreStrategic or Co-development Partner · 18 July 2026SK Invest's CEO visited SMT's production facilities in China, exploring high-tech medical equipment manufacturing. SMT presented automated production lines, dialyzer and hollow fiber membrane manufacturing processes, and quality control systems. Both parties expressed mutual interest in cooperation in high-tech medical product manufacturing.
• Shenzhen Tianying Brothers UAV Innovation Co., Ltd.coreStrategic or Co-development Partner · 16 July 2026MoU signed on July 16, 2026, between Samruk-Kazyna Invest and Shenzhen Tianying Brothers UAV Innovation Co., Ltd. for cooperation in unmanned aerial systems in the Republic of Kazakhstan. The agreement covers localization of UAV and ancillary equipment manufacturing in Kazakhstan, training of local specialists, and transfer of production and technical competencies.
• Goldcard Smart Group Co., Ltd.coreStrategic or Co-development Partner · 16 July 2026Agreement on key terms (Term Sheet) signed on July 16, 2026, for localization of smart water meter production in Kazakhstan, signed during President Tokayev's visit to Shanghai. Goldcard Smart Group will act as strategic investor providing financing, technology transfer, equipment supply, and operational support. SK Invest will serve as co-investor and project partner, overseeing localization and local competency development in Almaty.
• Gotion High-Tech Company LimitedcoreStrategic or Co-development Partner · 16 July 2026Negotiations held on July 16, 2026, between SK Invest's CEO and Gotion High-Tech's VP Zhang Dongsheng regarding prospects for bilateral cooperation and localization of Battery Energy Storage Systems (BESS) production in Kazakhstan. Gotion High-Tech is one of the world's largest lithium-ion battery and energy storage system manufacturers.
• China Communications Construction Company (CCCC)coreStrategic or Co-development Partner · 16 July 2026SK Invest CEO participated in meetings with CCCC — one of the world's largest state engineering and construction companies specializing in transport and port infrastructure development. Discussions covered joint projects in transport infrastructure and port development.
• SANY Renewable EnergycoreStrategic or Co-development Partner · 15 July 2026SK Invest's CEO met SANY Renewables' Chairman Li Qiang in Beijing. The parties discussed the wind component localization factory in Zhambyl Oblast (2 GW/year capacity, operational since September) and signed a Shareholder Agreement for a 1 GW wind power station project in Jetysu Oblast. SANY is a global leader in renewable energy equipment.
• Kenya National Chamber of Commerce and IndustryminorStrategic or Co-development Partner · 14 July 2026SK Invest delegation held meetings in Kenya with the National Chamber of Commerce and Industry and tea/coffee sector associations to explore trade and economic cooperation, including a potential tea and coffee distribution hub project in Kazakhstan. Meetings also covered mineral deposits information exchange and fertilizer production opportunities.
• China Harbour Engineering CompanymoderateStrategic or Co-development Partner · 3 July 2026Working meeting between SK Invest and China Harbour Engineering Company to discuss current cooperation areas and prospects for joint projects in transport and port infrastructure development. Both parties reviewed ongoing initiatives and confirmed mutual interest in continuing cooperation.
• Ewpartners Investment Management LimitedmoderateStrategic or Co-development Partner · 2 June 2026MoU signed between SK Invest and Ewpartners Investment Management Limited for investing in hemodialysis product manufacturing (dialyzers and membranes), including project implementation in Kazakhstan. Signed during Hong Kong Chief Executive John Lee's visit to Kazakhstan.
• AZCONcoreStrategic or Co-development Partner · 2 April 2026Samruk-Kazyna and AZCON (Azerbaijan's state holding) are implementing a joint project for dredging works at ports of both countries. SK Invest and AZCON have agreed on key cooperation terms and signed a Shareholder Agreement. The joint venture will be established at the AIFC platform, with contract for main equipment to follow. Dredging in Azerbaijan to begin in 2027.
• SANY Renewable Energy Co., Ltd.coreStrategic or Co-development Partner · 3 February 2026Mangistau Renewables B.V. (joint venture of Eni and KazMunayGas) signed a contract for wind turbine supply for the Mangystau hybrid power plant. Turbines will be supplied from the wind turbine factory in Zhambyl Oblast built in 2025 in partnership with SANY Renewable Energy. Contract covers 77 MW of turbines including installation, commissioning, and after-sales service.
• State Capital Investment Corporation (SCIC) of VietnammoderateStrategic or Co-development Partner · 2 February 2026Meeting with Vietnam's Deputy PM Nguyen Hao Binh and SCIC (Vietnam's sovereign fund) in Astana. Both parties conducted detailed negotiations and exchanged project pools. Potential cooperation between SK Invest and SCIC is being explored.
• Huawei TechnologiescoreStrategic or Co-development Partner · 27 January 2026SK Invest's CEO met Huawei's Chairman Liang Hua in Beijing. Discussions covered progress on IT product localization project in Kazakhstan and potential projects in digitalization and AI. A Strategic Cooperation Agreement was signed in September of the previous year. Huawei operates in more than 170 countries.
• ZTE CorporationcoreStrategic or Co-development Partner · 27 January 2026Meeting between SK Invest CEO and ZTE Corporation President Xu Ziqiang in China. Topics included strategic partnership in 5G, AI, and digital transformation; potential IT product lines for localization in Kazakhstan. ZTE contributes to Kazakhstan's telecom infrastructure via projects with Kazakhtelecom and Kcell.
• Guodong Network Communication GroupmoderateStrategic or Co-development Partner · 26 January 2026Meeting with founder Lu Jie in Beijing. Discussions covered cooperation plans with Samruk-Kazyna portfolio companies in telecommunications and digital infrastructure. Guodong operates over 50,000 telecom towers (8th globally, 4th among independent operators) and was recognized as a provincial unicorn in 2024–2025.
• Energy ChinamoderateStrategic or Co-development Partner · 26 January 2026Meeting with Energy China leadership in Beijing. Discussions covered cooperation prospects in renewable energy and infrastructure, including ongoing joint projects. Energy China is the world's largest company in coal mining, thermal power, wind energy, coal processing, and water industry.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Public Investment Fund (PIF) of Saudi Arabia: PIF is Saudi Arabia's sovereign wealth fund driving Vision 2030 sector localization. Comparable to SK Invest in its role as a sovereign vehicle directing capital into import substitution, EVs, renewables, and tech localization through international partnerships.
• Khazanah Nasional: Khazanah is Malaysia's sovereign strategic investment fund, holding equity stakes in domestic strategic sectors. Comparable to SK Invest as a state-mandated vehicle pursuing strategic sector development through equity co-investment in domestic priority industries.
• GIC (Singapore): GIC manages Singapore's foreign reserves with diversified multi-sector investment mandates. Comparable to SK Invest's parent fund Samruk-Kazyna in asset scale, sovereign backing, and global investment reach.
• Temasek Holdings: Temasek is a Singapore state-owned investor that takes minority equity stakes alongside strategic partners across diverse sectors. Comparable to SK Invest in structure (sovereign-backed, minority co-investor), sector breadth (multi-sector generalist), and long-duration capital deployment.
• Mubadala Investment Company: Mubadala is a UAE sovereign investor that makes direct equity co-investments alongside strategic partners in priority sectors globally. Comparable to SK Invest in its role as a state-backed direct investment vehicle deploying Pari Passu capital into industrial localization and infrastructure projects.

Regional players

• Caisse des Dépôts et Consignations: CDC is France's state-owned long-term investor in strategic sectors. Comparable to SK Invest as a sovereign-aligned investment entity deploying long-duration capital into priority domestic industries alongside strategic partners.

Direct peers

• Azerbaijan Investment Holding (AIH): AIH is Azerbaijan's state holding company for strategic investments and an active partner of SK Invest via the SK-AIH joint investment fund. The most directly comparable peer given matched sovereign-backed direct investment mandates, regional Central Asia/Caspian focus, and an established co-investment relationship.
• State Capital Investment Corporation (SCIC) of Vietnam: Vietnam's sovereign investment corporation managing state equity in enterprises. Directly comparable to SK Invest as another state-owned investment vehicle exploring cooperation with SK Invest on co-investment platforms and cross-border strategic projects.
• Russian Direct Investment Fund (RDIF): RDIF is a Russian sovereign-backed direct investment fund that co-invests with strategic partners in priority sectors. Comparable to SK Invest in sovereign mandate, Pari Passu co-investment model, and focus on attracting technology and capital to domestic priority sectors.
• Baiterek Holding (Kazakhstan): Baiterek is Kazakhstan's national development institution providing financing for priority sectors. Directly comparable as a domestic Kazakh state vehicle referenced by SK Invest for complementary financing in joint deals — a same-country, same-mandate peer in the national investment ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/samruk-kazyna-invest-llp

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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Frequently asked questions about Samruk-Kazyna Invest