Oxus Capital, the promoters of the first Central Asian SPAC, to launch new $200 million Visionary Fund to drive impact investment globally

Singapore, SINGAPORE

ALMATY, Kazakhstan and NEW YORK, April 12, 2023 (GLOBE NEWSWIRE) -- 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.

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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

Kanat Mynzhanov

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