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Kenes Rakishev and Ehud Olmert present global venture fund in Tel Aviv

22 april 2013, 18:03
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Kenes Rakishev telling about perspective directions of the fund's work. Photo by Maksim Popov©
Kenes Rakishev telling about perspective directions of the fund's work. Photo by Maksim Popov©
Partners of Genesis Angels venture fund. Photo by Maksim Popov©
Partners of Genesis Angels venture fund. Photo by Maksim Popov©
Moshe Hogeg (L) and Yuval Rabin (R). Photo by Maksim Popov©
Moshe Hogeg (L) and Yuval Rabin (R). Photo by Maksim Popov©
Kazakhstan businessman Kenes Rakishev and former Prime-Minister of Israel Ehud Olmert presented a global venture capital fund in Tel Aviv, Tengrinews.kz reports from Israel.

“I have broad and many-year connections with Kazakhstan. I know this country and people from this country. I am friends with Kazakhstan President and I can say that Kazakhstan has a good potential. This is a very attractive country for foreign investors and more and more major players and investors from Kazakhstan are appearing at the global market,” Ehud Olmert said at the meeting with Israeli and foreign journalists on the occasion of the launch of the new fund.

“When I met Kenes, there was a “chemistry” between us. When I was invited to join the fund and knowing Kenes Rakishev’s scale, I realized that the fund was getting big prospects in high-tech industry. We held the meetings with several young forward-minded Israeli experts working in this sector and it was clear that we could take part and create breakthrough technologies, which is what we want to do in the framework of this fund. This is not just a business, this is an innovative business. My personal position is that we have to develop and expand business relations between Kazakhstan and Israel and other post-Soviet countries. This direction has a very good potential My position is to help development of these relations,” he said.

The goal of the global venture capital fund Genesis Angels is to search out and finance perspective technologies in robotics industry players. Ehud Olmert will become the fund’s board chairman, giving it not only a high status, but also everything required for successful development of connections, as well as vision and experience.

“The fund has a capital of $10 million and is one of the top 10 biggest venture funds specializing in investments into robotics. The fund’s headquarters is registered in Singapore. Its has representative offices in Kazakhstan, the U.S., Russia and Israel,” Kenes Rakishev said at the press-conference.

Founder and head of the popular social photo-video network Mobli Moshe Hogeg is Rakishev’s business partner from Israeli part. The initial investments made by the fund’s partners were spent on developments in the artificial intelligence and anything able to make the “brain content” of robots.

For example, the startup Beyond Verbal Communication supported by Genesis Angels and led by Yuval Rabin (the son of former Prime-Minister of Israel Yizhak Rabin and veteran of the software industry with 30-year experience) is working on commercialization of its own licensed technologies in human speech real-time decoding and analysis. In the other words, the technologies of Beyond Verbal are some kind of a remote polygraph that allows to make an emotional and psychological portrait of a person and identify elements of his/her character based on the speech analysis. The company’s technologies are based on 16 years of scientific researches and over 50 thousand tests in 26 languages.

Another perspective development that has received financing from the fund is Infinity AR platform that uses augmented reality technologies. The platform can be used in smartphones, tablets or digital glasses, similar to Google glass. It can be used to manage most of the applications in any modern smartphone through a revolutionarily augmented reality interface: manipulations with applications and management of virtual objects via technologies of voice recognition, head or eyes movements.

Another startup mentioned by Genesis Angels fund is the Canadian company Spry Logic Technologies specializing in development of expanded search and analysis technologies. The platform licensed by the company uses semantics and machine learning methods for processing, analysis and interpretation of information, including real-time conversations. In the other words, the company strives to create an ideal search machine that would take the search interface as close as possible to human thinking and give clear answers to not always clearly formulated questions. Another direction of the company’s development includes development of the search platform for mobile applications. For example, the www.2ya.it messenger developed for Facebook allows to search for information and share the search results using a one finger movement without leaving the chat.

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