Rakishev launches new VC for high-tech and financial start-ups

Kenges Rakishev, Ehud Olmert, and Moshe Hogeg

Kenges Rakishev, one of Kazakhstan’s leading businessmen, has invested $102m in a second venture capital fund following on the success of his inaugural foray into the world of start-ups.  Named Genesis Angels, the fund was launched at the end of last month and Rakishev’s co-investors are Tel Aviv’s Singulariteam investment capital fund the RenRen Chinese social networking service, and Tencent Holding Group, one of China’s largest conglomerates estimated to be worth more than $150 billion. The fund will focus on early stage investments in start-ups in mobile technologies, robotics, finance and Internet. “We are looking for companies that dream to bring some change into this world,” said Singulariteam’s founder Moshe Hogeg.  The new fund’s chairman is Ehud Olmert a  former Israeli Prime Minister.  Tengrinews