Kenes Rakishev

Kenes Rakishev (born 1979, Kazakh: Keńes Hamıtuly Raqyshev) or Kenges,[1] is a Kazakh entrepreneur and investor.

Kenes Rakishev
Born14 July 1979
NationalityKazakhstan
EducationAMP Diploma from Oxford University (UK)
Websitewww.kenesrakishev.com

Early life

Rakishev was born on July 14, 1979, to a family of Kazakh statesman Khamit Rakishev who was the head of the Kazakhstan's Chamber of Commerce and Industry. He is married to Aselle Tasmagambetova, daughter of Kazakh politician and diplomat Imangali Tasmagambetov.[2]

Career

Rakishev served as head of marketing for KazTransGas and Intergas Central Asia and as advisor for the Kazakhstan Interior Ministry and Department of Education.[3]

He serves as the chairman of Net Element after acquiring $32 million in Net Element stock in 2012.[4]

Rakishev is one of the founders of the private venture fund SingulariTeam that focuses on the development of technology based companies.[5]

He is the chairman of the board of directors for several companies including SAT & Company, a diversified industrial holding.[6]

He was the controlling shareholder of the Kazakh commercial bank JSC "Kazkommertsbank" and the bank's chairman of the board of Directors.[7]

Rakishev is the member of directors' board and the strategic partner of Russian venture fund Fastlane Ventures. He is one of the shareholders of the Central Asia Metals PLC mining company.[8]

Rakishev is the member of presidium of the National Economic Chamber "Atameken Union" and member of Youth Policy Council "Zhas Kenes".[9]

In September 2012, Rakishev invested $20 million in a social media platform for sharing photos and videos Mobli. He became a member of the company's board.[10][11]

In December 2015, Rakishev bought Sedmoi Kanal (Channel Seven), a Kazakhstan national TV channel.[12][1]

Other activity

In 2004, Rakishev was elected as the vice-president of National Sports Association of Kazakhstan.[13]

In 2009, Rakishev headed the Almaty city branch of Kazakhstan Boxing Federation. In 2010 he was elected as vice-president of the federation.[14][15]

In 2011, Rakishev is elected as vice-president of the (ASBC) Asian Boxing Confederation.[16]

In 2012, Rakishev is elected as the new President of Kazakhstan Judo Federation.[17]

Business

Industrial assets

Since November 2006 Rakishev has been the shareholder and chairman of the board of SAT & Company, a diversified industrial holding combining more than 30 companies across different industrial sectors, such as mining, metallurgy, construction, mechanical engineering, oil trading, minerals exploration and recycling. From 2008 Sat & Company rapidly increased its international presence through acquisition of the new assets in China and Turkey (ferroalloy plants and mining companies exploring ferroalloys, chrome, nickel, zinc and coal). According to Bloomberg, by the beginning of 2013 market capitalization of Sat & Company made up $500 mln. By December 2015 Rakishev gained control over 75,61% of the company's shares.[18]

On June 27, 2013, Central Asia Metals PLC, an international producer of the cathode copper became the sole owner of Kounrad copper project in Kazakhstan by exchanging 20% of CAML shares into 40% of Kounrad stake owned by Rakishev. Thus, Rakishev was appointed as non-executive director of Central Asia Metals PLC.[19]

On March 13, 2014, Rakishev joined the board of directors of JSC "National Company "Kazakhstan Engineering" - large holding combining 27 enterprises of the defensive industry and munitions factories of the Ministry of Defence of the Republic of Kazakhstan. He left the board one year later, upon the appointment of Imangali Tasmagambetov as the new Minister of Defence.[20]

Financial assets

In 2010 Rakishev had the status of the major participant of the "Otan" accumulative pension fund. In 2012 he became the shareholder of the "Respublika" accumulative pension fund. Currently, he is the major shareholder of the "Standard" insurance company - 22,34% shares. In March 2013, he acquired the status of the major participant of JSC " Bank Astana-Finance" and in July 2015 he left the register of the shareholders of this financial institution.

On February 6, 2014, JSC Kazkommertsbank and Kenes Rakishev reached a final agreement to acquire 46.5% of the shares of JSC BTA Bank each from JSC National Welfare Fund Samruk-Kazyna. The acquisition and subsequent merger of BTA and KKB were expected to create the largest universal bank in the region, creating a large-scale diversified institution with an assets more than 1.5x larger than the next competitor.

On February 14, 2014, Rakishev became the new chairman of Kazakhstan-based BTA Bank's board of directors. The decision was made during the extraordinary meeting of the bank's shareholders.

On January 19, 2015, by the decision of the extraordinary meeting of JSC Kazkommertsbank shareholders, Rakishev was elected as the new member of the board of directors, representing the shareholders' interests.

In March 2015 he has become the large shareholder of JSC Kazkommertsbank, controlling the 16,02% of the shares by the acquiring 127 777 704 of the ordinary shares.

By the beginning of August 2015, Rakishev increased its stake in Kazkommertsbank to 28,67% and then announced the preliminary agreement with Alnair Capital Holding (another large shareholder of the bank, controlling 28,08% of its shares) to combine their respective shareholdings in Kazkommertsbank. As a result of the proposed transaction, Rakishev would acquire legal ownership over the parent entity of JSC Alnair Capital Holding, becoming its General Partner and, as such, would effectively acquire control over voting and other rights of Alnair's shareholding in Kazkommertsbank (controlling 56.75% of bank's shares in total).

On December 29, 2015, the above-mentioned deal was closed.[21] Rakishev became Alnair Capital Holding's General Partner. Thus, the amount of shares under his control grew to 56,75 %.

In April 2016 Rakishev significantly increased his stake in Kazkommertsbank by reaching agreement with Mr. Nurzhan Subkhanberdin and JSC Central Asian Investment Company (CAIC) on acquisition of common shares of the Bank owned by Mr. Subkhanberdin and CAIC.[22] Under the terms of this transaction, Rakishev acquired 115,486,789 common shares from CAIC. As a result, Rakishev's direct holding in KKB increased from 28.67% to 43.15%, and he directly and indirectly (through JSC Qazaq Financial Group) controls 71.23% of KKB common shares. Soon after the deal announcement Rakishev was elected as the Kazkommertsbank's chairman of the board of directors.[23]

Venture business

In 2012 Rakishev has expanded the range of his business interests to venture investments in the perspective innovation startups in the US, Canada, Israel and Russia. He started to position himself as an independent investor and entrepreneur. After the acquisition of the major stake in US based Net Element company he has got the honorable nickname "the first Kazakh at NASDAQ". In March 2015 Net Element has acquired one of the Russia's e-payment market leaders PayOnline company.[24]

On December 6, 2012, Rakishev has acquired the share in the capital and joined the board of directors of the biggest Russian venture fund Fastlane Ventures. In 2011 Forbes magazine placed Fastlane Ventures second in its ranking of the largest investors in Russia, mostly due to its huge $100 million portfolio. The fund's key partners are VTB capital, Direct Group, e.ventures.

In December 2013 Rakishev took part in the Russian IQCard financing round, putting $3.7 million into its capital. Created in 2012, IQCard specializes in developing and servicing various loyalty programs for retail chains on the basis of prepaid bank cards. In 2013 the company started collaboration with Visa, by releasing the first Russian gold prepaid card and realized partnership with world's biggest tourist operator TUI Russia & CIS as well as Russian bookstores chain "Respublika". Thanks to agreement with Samsung, IQCard will also be featured in Samsung Wallet app.[25]

Investments
  • Rall.ee, $1 million, First Round, November 6, 2012
  • TriPlay, $5 million, Series C, August 22, 2012 [26]
  • Net Element, $32 million in stock acquisition, February 23, 2012
  • Fast Lane Ventures, $13 million, December 6, 2012
  • Genesis Angels, $100 million fund, April 19, 2013
  • Sprylogics International, Rakishev entered the Consultative Council of the company.
  • IQcard.ru, $3,7 million investment in December 2013
  • Magnum Cash & Carry, a retail chain in Kazakhstan. In 2014, it was announced that Rakishev has non-controlling stake in the company. The exact share size was not disclosed.[27]

Awards

Rakishev ranked fifth out of 50 influential businessmen in Kazakhstan, according to Forbes Kazakhstan annual ranking. He ranked seventh in Forbes Kazakhstan annual ranking 50 richest people in Kazakhstan.[28][29]

He was designated by Forbes as one of the 50 most influential people in Kazakhstan. He was awarded the medal of "20 years of independence of the Republic of Kazakhstan", the medal of "10 years of the city of Astana". He was also awarded a special appreciation letter from the President of the Republic of Kazakhstan, Mr. Nursultan Abishevich Nazarbayev.

References
  1. "Kazakhstan: Well-Connected Tycoon Snaps Up TV Station | Eurasianet". eurasianet.org. Retrieved 2020-09-11.
  2. "Ракишев Кенес Хамитович (персональная справка)". Retrieved 2021-06-13.
  3. "Досье редакции. Ракишев Кенес Хамитович". Kapital.kz. Retrieved 2021-06-20.
  4. "Казахстанский миллионер Кенес Ракишев — в интервью CNews: Инвесторам интересен не российский интернет, а российские технологии". CNews.ru (in Russian). Retrieved 2021-09-28.
  5. "Кенес Ракишев и Singulariteam приближают будущее". Деловой портал Капитал.кз (in Russian). Retrieved 2021-09-28.
  6. Гайфутдинова, Венера (2015-11-30). "Кенес Ракишев увеличил долю в АО "SAT & Company"". www.forbes.kz. Retrieved 2021-09-28.
  7. "Kenges Rakishev increases shareholding in KKB – Company Announcement - FT.com". markets.ft.com. Retrieved 2020-10-21.
  8. "Central Asia Metals Кенеса Ракишева собирается приобрести производителя цинка за 402,5 млн долларов". Metals Expert (in Russian). Retrieved 2021-09-28.
  9. "Кенес Ракишев. Биография".
  10. "Photo- And Video-Sharing App Mobli Raises $22M From Kazakhstan Investor Kenges Rakishev And Others". TechCrunch. Retrieved 2020-09-10.
  11. "Israeli's Mobli Gets $20 Million from single Kazakh Investor | Jewocity.com". 2016-05-15. Archived from the original on 2016-05-15. Retrieved 2020-09-10.
  12. "Кенес Ракишев приобретет 100% акций Седьмого канала". kapital.kz (in Russian). Retrieved 2020-09-11.
  13. "Личное дело Кенеса Ракишева". Тумба.kz. 2018-03-30. Retrieved 2019-02-04.
  14. "Kenes Rakishev made an important step to restore the Kazakhstan boxing glory". www.toinnov.com. Retrieved 2021-09-28.
  15. timesofsurat_lfxc2o. "Boxing is number one sport in Kazakhstan – Kenes Rakishev – TIMES OF SURAT". Retrieved 2021-09-28.
  16. INFORM.KZ (2019-10-09). "Kenes Rakishev elected President of Kazakhstan Boxing Federation". www.inform.kz. Retrieved 2020-10-21.
  17. "Kazakh Prosecutor General elected to head Judo Federation". lenta.inform.kz (in Russian). Retrieved 2020-10-21.
  18. "Ракишев увеличил свою долю в SAT & Company - Аналитический интернет-журнал Vласть". vlast.kz (in Russian). Retrieved 2020-10-21.
  19. "Кенес Ракишев приобретет долю в Central Asia Metals plc". Nur.kz. 2013-07-01. Retrieved 2019-02-16.
  20. "Кенеса Ракишева исключили из совета директоров "Казахстан Инжиниринг"". LSM.kz. 2015-01-30. Retrieved 2019-02-16.
  21. "JSC Kazkommertsbank".
  22. "bank press-release".
  23. "Ракишев увеличил свою долю в Казкоме". Tengri News. 2016-04-20. Retrieved 2019-02-16.
  24. "Net Element to acquire Russian online payment firm for $7.2M".
  25. "Стартовал прием заявок на участие в конкурсе "Построй свой бизнес"". Tengri News. 2018-10-23. Retrieved 2017-07-23.
  26. "TriPlay Rakes In $5M And A New Oligarch Investor To Take Its Consumer Cloud To Europe + Asia". TechCrunch. Retrieved 2020-10-21.
  27. tengrinews.kz (2014-05-05). "Kenes Rakishev buys into Magnum Cash & Carry". Главные новости Казахстана - Tengrinews.kz. Retrieved 2020-10-21.
  28. "50 самых влиятельных бизнесменов Казахстана - 2015 — Forbes Казахстан". www.forbes.kz. Retrieved 2020-09-10.
  29. Тастулекова, Айгуль (2016-05-05). "50 богатейших бизнесменов Казахстана - 2016". www.forbes.kz. Retrieved 2020-09-10.
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