Venture funds as one of the major sources of investment for innovative entrepreneurship in the Republic of Kazakhstan

Abstract

The article presents the development of venture capital investment in the Republic of Kazakhstan within the context of analyzing foreign experience in the implementation and application of the methods, models, vehicles and schemes of venture capital investment in knowledge-intensive high-tech innovative enterprises. Kazakhstan is primarily interested in the experience of Western Europe and the USA, since the venture capital industry of these countries is the most developed as compared with venture investing investment in other countries. The goal of this article is to focus on studying of the theoretical and methodological foundations of venture capital investment, as well as on developing practical guidance on improving the development of venture capital operations in the Republic of Kazakhstan. Trying to achieve the above goal the following results have also been achieved: uncovering of the goal, essence and peculiarities of venture capital investment, as well as its role in the development of innovative projects; identification of current trends, patterns and contradictions in the development of the venture capital investment process; consolidation of the best practice in organizing venture capital investment in the Republic of Kazakhstan and abroad. The article offers practical guidance for enhancing the efficiency of venture capital investment in the Republic of Kazakhstan. First of all, it has been concluded that nowadays the country is in an urgent need for the formation of a new investment model providing for the creation of venture funds investing in business-plans and pilot teams.