INVESTMENT MANAGEMENT COMPANY · AIFC
Institutional capital. Real economy.
Connecting capital with real-sector projects in Kazakhstan and Central Asia.
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APEX Fund IAgribusiness and SMEs - APEX Fund IIPharmaceuticals and healthcare
- Regulated by AFSALicence AFSA-A-LA-2023-0009. Astana International Financial Centre.
FUNDS UNDER MANAGEMENT
One investment discipline.
From financing agribusiness to developing pharmaceutical manufacturing, each fund has its own mandate and risk profile.
01 / APEX Fund I
Agribusiness and SMEs
Debt and structured financing through local financial infrastructure, as well as vertical integration projects in agribusiness.
Kazakhstan · 2 programmes · 1 project.
The fund page sets out its strategy, instruments, programme parameters and principal risks.
Kazakhstan · 2 programmes · 1 project.
The fund page sets out its strategy, instruments, programme parameters and principal risks.
02 / APEX Fund II
Pharmaceuticals and healthcare
Direct and structured investments in technology localisation, manufacturing, biotechnology, medical and related infrastructure.
Kazakhstan, the EAEU, the Middle East, Asia and East Africa · 8 investment projects at different stages of development.
The fund page sets out its investment areas, projects and principal risks.
Kazakhstan, the EAEU, the Middle East, Asia and East Africa · 8 investment projects at different stages of development.
The fund page sets out its investment areas, projects and principal risks.
OUR APPROACH
Capital works when there is a system behind it.
From initial assessment to project delivery, we manage every stage of the investment process.
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01 / Understand the economics
We assess demand, the business model, the team and risks before making a decision. -
02 / Structure the investment
We align the capital structure, transaction terms and investor protection mechanisms. -
03 / Support implementation
We monitor the budget, key milestones and execution of the investment strategy.
From strategy to real assets.
Financial programmes and manufacturing projects at different stages of development.
APEX Fund I · Capital raising
Financing through credit partnerships
An institutional capital deployment channel through the credit partnership system for its members.
Agriculture and SMEs
Agriculture and SMEs
APEX Fund II · Capital raising
Khan Tengri Biopharma
A full-cycle biopharmaceutical complex with technology transfer and a phased deepening of localisation.
Biopharmaceuticals
Biopharmaceuticals
APEX Fund II · Capital raising
Khan Tengri Compound
A compounding pharmacy and personalised medicine platform with clinical, bioanalytical and educational infrastructure.
Personalised medicine
Personalised medicine
APEX Fund I
Financing through the credit partnership system
Capital raising · Agriculture, SMEs and agribusiness
Fund I raises external capital and deploys it through a system of credit partnerships that are members of Credit Partnership Central, which comprises 44 member credit partnerships.
Credit Partnership Central consolidates credit partnerships. Smaller credit partnerships may find it difficult to attract external institutional capital independently. The common structure creates a channel for such financing; the credit partnerships then work with their own members and end borrowers.
Key parameters
The model connects institutional capital with local knowledge of borrowers and regional economies. Membership in Credit Partnership Central does not mean automatic financing for every member: access to funding is determined by due diligence results and the terms of the specific transaction.
Role in the investment strategy
An operating Fund I debt channel and a source of sector knowledge for the development of the investment strategy.
207 credit partnerships and 23,000+ members / agricultural producers describe Kazakhstan's market potential, not Fund I's current reach.
Financing platform ↗
Fund I raises external capital and deploys it through a system of credit partnerships that are members of Credit Partnership Central, which comprises 44 member credit partnerships.
Credit Partnership Central consolidates credit partnerships. Smaller credit partnerships may find it difficult to attract external institutional capital independently. The common structure creates a channel for such financing; the credit partnerships then work with their own members and end borrowers.
Key parameters
- Capital raising
- 44 members of Credit Partnership Central
- Agricultural producers, agribusiness and SMEs
The model connects institutional capital with local knowledge of borrowers and regional economies. Membership in Credit Partnership Central does not mean automatic financing for every member: access to funding is determined by due diligence results and the terms of the specific transaction.
Role in the investment strategy
An operating Fund I debt channel and a source of sector knowledge for the development of the investment strategy.
207 credit partnerships and 23,000+ members / agricultural producers describe Kazakhstan's market potential, not Fund I's current reach.
Financing platform ↗
APEX Fund II
Khan Tengri Biopharma
Capital raising · Biopharmaceuticals
A full-cycle biopharmaceutical complex in the Alatau SEZ with technology transfer and phased deepening of manufacturing localisation.
Khan Tengri Biopharma forms the manufacturing foundation of Fund II's pharmaceutical portfolio. The project focuses on producing complex and strategically important medicines, developing biotechnology capabilities and progressively increasing the depth of local manufacturing.
Key parameters
Project value is created through a combination of technology transfer, physical manufacturing infrastructure, the product portfolio and a phased transition to deeper stages of localisation. The technology partner in the current project model is R-Pharm.
Role in the investment strategy
A flagship biopharmaceutical manufacturing asset and a capability base that can support other pharmaceutical projects in the portfolio.
Focus areas
Oncology and haematology; orphan and autoimmune diseases; cardiology and metabolic diseases; diagnostics and infectious diseases.
Project website ↗
A full-cycle biopharmaceutical complex in the Alatau SEZ with technology transfer and phased deepening of manufacturing localisation.
Khan Tengri Biopharma forms the manufacturing foundation of Fund II's pharmaceutical portfolio. The project focuses on producing complex and strategically important medicines, developing biotechnology capabilities and progressively increasing the depth of local manufacturing.
Key parameters
- Capital raising
- 58 SKUs
- 16.5 ha
- 2026–2028 — design and construction
- December 2028 — target production launch
Project value is created through a combination of technology transfer, physical manufacturing infrastructure, the product portfolio and a phased transition to deeper stages of localisation. The technology partner in the current project model is R-Pharm.
Role in the investment strategy
A flagship biopharmaceutical manufacturing asset and a capability base that can support other pharmaceutical projects in the portfolio.
Focus areas
Oncology and haematology; orphan and autoimmune diseases; cardiology and metabolic diseases; diagnostics and infectious diseases.
Project website ↗
APEX Fund II
Khan Tengri Compound
Capital raising · Personalised medicine
A compounding pharmacy and personalised medicine platform combining patient-specific preparation, clinical capabilities, bioanalytics, education and quality control.
Khan Tengri Compound focuses on preparing medicines for individual patient needs and developing capabilities at the interface between industrial pharmaceutical manufacturing and clinical application. The project model includes patient-specific preparation, personalised and orphan solutions, bioanalytical infrastructure and quality control.
Key parameters
Personalised medicine requires smaller batches, closer integration with the clinical environment and advanced analytical infrastructure. The project creates a distinct highly specialised segment within the Fund II portfolio without the need to scale it as mass production.
Role in the investment strategy
A clinical, analytical and personalised layer of the portfolio complementing major manufacturing assets and research themes.
A compounding pharmacy and personalised medicine platform combining patient-specific preparation, clinical capabilities, bioanalytics, education and quality control.
Khan Tengri Compound focuses on preparing medicines for individual patient needs and developing capabilities at the interface between industrial pharmaceutical manufacturing and clinical application. The project model includes patient-specific preparation, personalised and orphan solutions, bioanalytical infrastructure and quality control.
Key parameters
- Compounding pharmacy
- Clinical and educational centres
- Bioanalytical research
- Quality-control laboratories
Personalised medicine requires smaller batches, closer integration with the clinical environment and advanced analytical infrastructure. The project creates a distinct highly specialised segment within the Fund II portfolio without the need to scale it as mass production.
Role in the investment strategy
A clinical, analytical and personalised layer of the portfolio complementing major manufacturing assets and research themes.
People accountable for decisions.
Financial expertise, sector knowledge and control functions in one team.
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Ayan IskakovChief Executive Officer
Executive leadership and coordination of the company’s activities. -
Dastan ZholdassovChief Financial Officer
Financial control, budgeting and reporting. -
Samat ImankulovChief Compliance Officer
Compliance with applicable requirements and management of conflicts of interest. -
Askhat KarimullinChief Credit Officer
Credit operations and oversight of the credit process. -
Yerassyl ShayakhmetovDirector of Investor Relations and Government Affairs
Investor relations and engagement with government bodies. Experience in healthcare, business development and international cooperation.
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MANAGEMENT GP
Institutional capital.
Real economy.
Institutional capital.
Real economy.
Astana, Kazakhstan
© 2026 Apex Management GP Ltd.
BIN 230940900036 · AFSA AFSA-A-LA-2023-0009
The materials are for general information only and do not constitute a public offer or investment recommendation.
BIN 230940900036 · AFSA AFSA-A-LA-2023-0009
The materials are for general information only and do not constitute a public offer or investment recommendation.
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