Dasco Capital Ltd. has signed an agreement with Frame Capital Ltd. to invest in Tolqyn Film Fund OEIC Ltd. (hereinafter referred to as the Fund or Tolqyn), the first private venture capital film fund in Kazakhstan. According to the terms of the agreement, Frame Capital will invest its own funds into Tolqyn, which is managed by Dasco Capital, DKnews.kz reports.
“We welcome both institutional and new investors who believe in the potential of Kazakhstan’s film industry. Our partner has a highly experienced and well-known team in film distribution, a clear investment vision, and ambitious goals. We share common values and look forward to a promising future for our collaboration” Darmen Sadvakasov, CEO of Dasco Capital
Notably, Frame Capital is a “smart investor,” which brings the potential for a multiplier effect. One of its key partners is Ascar Cinema, a leading film distributor in Central Asia and the South Caucasus. Ascar Cinema is the legal successor of the film division of the “Meloman” holding, which has over 30 years of experience in media, entertainment, and retail. Today, Ascar Cinema is the exclusive representative of Walt Disney Studios and Sony Pictures Entertainment in the region. Thanks to its partnerships with major studios, the company handles the local theatrical release of international films and actively develops marketing collaborations between films and local brands. As a strategic partner, Ascar Cinema strengthens the Fund’s positioning and creates additional opportunities for the successful implementation of its projects.
Tolqyn Film Fund was established to invest in the production of full-length feature films and animation projects with strong commercial potential. The Fund is currently in formation and is engaging with professional investors interested in participating as unit holders.
The investment period is scheduled to begin in the second half of June. Registered on the AIFC platform, the Fund plans to invest over the next 2.5 years in a portfolio of 15–20 film projects, with approximately 30% allocated to international co-productions. The goal is to generate revenue through theatrical distribution, licensing, and other income streams.
Film selection follows a three-stage process: initial application review and shortlist preparation by the Fund’s internal team, shortlist evaluation by an independent Advisory Board, and final decision-making by the Fund’s Investment Committee. This multi-stage model ensures higher quality outcomes and reduces investment risks.
The first Advisory Board meeting was held in Almaty under the chairmanship of prominent businessman and public figure Armanzhan Baitasov. The board includes well-known experts such as venture investor Adil Nurgozhin, financial analyst and risk manager Eldar Zhaymin, director, screenwriter and producer Olga Volodina, and film critic Ramazan-Malik Yeleusiz.
The Advisory Board thoroughly reviewed eight film projects submitted by experienced teams. Presentations featured sequels to well-loved titles as well as new projects, including animation and international films. Each candidate was evaluated on multiple criteria, including commercial and artistic potential. Selected projects have been recommended to the Investment Committee for final approval.
The Fund’s Investment Committee includes Darmen Sadvakasov, CEO of Dasco Capital (Chairman); Aidar Arifkhanov, CFO of Dasco Capital; and Ernar Kurmashev, CEO of Tolqyn Film Fund.
The Fund is currently accepting new film projects for pitching. Full participation guidelines are available on Tolqyn’s official pages on Instagram (@tolqynfilmfund), Telegram (Tolqyn Creative), and on the website dasco.kz.
