April 2022 – Kuanysh Shekerbekov, Managing Associate of Kinstellar's Almaty office, participated as a speaker in a panel discussion in connection with the official presentation of the "VC Guide for Founders". The event took place on 8 April 2022 and was organised by The AIFC Tech Hub, a subdivision of the "Astana" International Financial Center (AIFC), which has the task of promoting the development of the start-up ecosystem, the venture industry, e-commerce, corporate innovation and new technological directions in Kazakhstan (FinTech, GovTech, SatelliteTech, Industry 4.0. etc.).
The purpose of the guide is to provide a clear understanding of the opportunities and advantages of the AIFC for structuring venture transactions and attracting investments. The guide was based on interviews with the founders of Kazakhstan start-ups and business angels.
At the event, the speakers discussed the venture capital industry, talked about the benefits of structuring venture deals within the AIFC, and shared their personal experience of creating start-ups in Central Asia.
"The AIFC platform is unique. There are a lot of
principles and mechanisms that exist in English law. These
mechanisms allow better protection of investors, companies,
founders. The main mechanisms, such as reps & warranties,
indemnities - all this exists in the law of the AIFC. Currently,
there are no such instruments in Kazakhstan, although in practice,
even if the contract is governed by Kazakh law, the parties
sometimes add these things from English law. But there is always a
risk - how it will be implemented in Kazakhstan. If we apply the
AIFC law, this risk is completely eliminated, because such
instruments are recognized in the AIFC law, and it should be used
to protect investors."
A full version of the presentation is available at this link.
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