Oxus Capital, the promoters of the first Central Asian SPAC, to launch new $200 million Visionary Fund to drive impact investment globally
12 April 2023 - 12:30PM
Oxus Capital, the pioneering investment company driving Central
Asia’s first SPAC, unveiled today plans to
launch a new visionary fund worth $200 million, and will start
raising capital in the incoming weeks.
The Oxus Visionary fund will be aimed to promote
a greener and more equitable planet through impactful investments
that disrupt traditional practices. It will prioritize backing
innovative companies focused on sustainability and a fairer world,
with a special emphasis on renewable energies, clean technologies,
climate-smart agriculture, ethical supply chains, and food
tech.
The vehicle is expected to be fully
operational by 2024.
Oxus Capital already made history as the
originator of the first Central Asian SPAC, Nasdaq-listed Oxus
Acquisition Corp. (NASDAQ:OXUS), which raised $172.5 million in
2021. It recently announced a Business Combination Agreement with
Borealis Foods Inc., an innovative food technology company that has
developed a high-quality, affordable, sustainable, and highly
nutritious range of plant-based, ready-to-eat meals, sold in the
U.S. and Canada.
The transaction valued Borealis at an equity
value of $150 million and is expected to close during the third
quarter of 2023.
Oxus Capital is led by Kanat Mynzhanov and Askar
Mametov. With headquarters in Almaty and partners in New York,
London, Dubai, and New Delhi, the firm is well-positioned to
showcase Central Asia's untapped potential in the global
markets.
By focusing on impact investments that align
with the United Nations' Sustainable Development Goals, Oxus
Capital aims to create a lasting, positive impact on its region of
origin and beyond. “We believe in investing in people first, so
each person can contribute significantly to solving global
challenges,” said Mynzhanov.
Both Mynzhanov and Mametov have two decades of
experience in the world of investment management and in large
global corporations.
After years of working in the investment unit of
blue chip corporations, Mynzhanov successfully launched Bellprescot
Prime Fund in 2016, participated in private equity deals in fintech
and mobility industries, and led relevant projects in metals and
mining, rare metals, and alternative energy. At the moment, he also
serves as the CEO of Oxus Acquisition Corp.
Mametov was formerly the CFO of KM Gold Inc., a
public Kazakh gold mining company, and a financial controller at
Sequa Petroleum Kazakhstan, a subsidiary of Sequa Petroleum, an oil
and gas company listed on Euronext Access.
With the launch of its new Visionary Fund, Oxus
Capital is poised to leverage its experience and expertise to drive
innovation and growth across the region.
"Our team's diverse background and experience
allows us to understand and navigate the unique cultural and
business landscapes of both the Western and Eastern worlds,”
Mynzhanov added.
Safe Harbor Statements:Except
for the historical information contained herein, certain of the
matters discussed in this communication constitute "forward-looking
statements" within the meaning of the Securities Litigation Reform
Act of 1995. Words such as "may," "might," "will," "should,"
"could," "anticipate," "estimate," "expect," "predict," "project,"
"future," "potential," "intend," "seek to," "plan," "assume,"
"believe," "target," "forecast," "goal," "objective," "continue" or
the negative of such terms or other variations thereof and words
and terms of similar substance used in connection with any
discussion of future plans, actions, or events identify
forward-looking statements. These forward-looking statements
include, but are not limited to, statements regarding benefits of
the proposed license, expected synergies, anticipated future
financial and operating performance and results, including
estimates of growth. There are a number of risks and uncertainties
that could cause actual results to differ materially from the
forward-looking statements included in this communication. For
example, the expected timing and likelihood of completion of the
pending transaction, including the timing, receipt and terms and
conditions of any required governmental and regulatory approvals of
the pending transaction that could reduce anticipated benefits or
cause the parties to abandon the transaction, the ability to
successfully integrate the businesses, the occurrence of any event,
change or other circumstance that could give rise to the
termination of the negotiations, the risk that the parties may not
be able to satisfy the conditions to the proposed transaction in a
timely manner or at all, risks related to disruption of management
time from ongoing business operations due to the proposed
transaction, the risk that any announcements relating to the
proposed transaction could have adverse effects on the market price
of common stock of related companies. All such factors are
difficult to predict and are beyond our control. We disclaim and do
not undertake any obligation to update or revise any
forward-looking statement in this report, except as required by
applicable law or regulations.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/821d9046-f429-4bfe-9a6f-c532326fd11e
Further info:
Ra Pedrosa
PEDROSA UK
+44 151 528 2122
rpl@pedrosa.uk
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