The FT reports on a new investment fund focusing on Kazakhstan. $200 million Tau Capital will list on the LSE’s Alternative Investment Market. On the face of it, that’s nothing too interesting amid the general bonanza surrounding the Kazakh economy.

A couple of things are worth mentioning, though. First off, the investments the fund is going to make differ from the already existing instruments that mostly buy into Kazakh blue chips that are cross-listed on international stock exchanges. Tau Capital’s managers will look to invest in venture capital, bridge equity financing, recapitalisations and companies likely to list.

Also interesting is the fact that the fund will look for suitable companies throughout the Central Asian region and Russia. The latter is especially noteworthy taking into account who is behind the fund: No less a figure than Lord Jacob Rothschild is, together with Richard Horlick, at the helm of Tau Capital.

Rothschild is often brought into close association with Yukos and philanthropic activities in Russia via the Open Russia Foundation (which was closed by Russian authorities last year). This new endeavour, however, seems purely motivated by business confidence:

Mr Horlick and Lord Rothschild remain convinced this central Asian republic’s economy, now primarily resource-driven, is on the cusp of converting into a “self-sustaining” one.

The J Rothschild group has previously invested in KazMunaiGas and some of the republic’s privatised banks, according to Mr Horlick.

Lord Rothschild said: “I have been pursuing with great interest developments in Kazakhstan . . I have confidence that investors in this fund will benefit from the wealth of investment opportunities in Kazakhstan and its neighbours.”