Agraga Team


Ali K. Changlannalagath


An entrepreneur, business leader and team builder for over 25 years with a wide network of business associates and significant relationships spanning the globe. Experienced in all aspects of business formation, operation, finance, and management. Visionary business developer with deep education in research and analytics. Effective communicator and motivator who identifies and leverages assets in teams to reach organizational goals. Ali incubated nearly 20 businesses in India and abroad. The net worth of the companies created is in excess of $750M.

Rajiv S. Arora

Director and Compliance Officer

A highly driven leader with over 25 years of experience in managing complex global transformations in highly regulated industries like banking and energy. Rajiv has over 16 years of experience at Mizuho International Plc of which nearly 15 years as Head of Regulatory Change. Having worked with the UK’s Prudential Regulation Authority he has a deep understanding of a financial regulator’s expectations and requirements and he can apply that to interactions with the Astana Financial Services Authority and the Astana International Financial Centre in Kazakhstan on behalf of Agraga and the ANU Energy Fund. Rajiv engages with C-suite and senior stakeholders to define changes required to align the operating model to target strategic objectives for revenue growth, improved operating efficiency and regulatory compliance. As a strong team leader, utilising his experience as an entrepreneur, Rajiv is collaborative, analytical and commercial in his approach, with core skills covering transformation, regulatory compliance, risk management, product development and front to back technology integration. Rajiv has built strong multi-disciplinary teams that have undertaken detailed financial analysis, developed business cases and delivered programmes - streamlining processes & costs, application rationalisation, location & sourcing strategy, transaction structuring, new business and capital/liquidity/leverage optimisation. 


Rustam Duspayev

Chief Executive Officer

A finance professional with experience in project finance from the public and also the banking sides. Rustam’s exposure to managing risks spans 5 years and comprises PPPs, private, public projects and balance sheet financing with a typical deal size between $30M and $1,500M in sectors such as social and transport infrastructure, petrochemicals, transportation, metallurgy, power generation and distribution. His skills also include those necessary for formulation and implementation of economic development strategies and policies. In previous engagements he had responsibility for Kazakhstan’s central securities registrar business development, managing the launch of a financial regulator and work with London lawyers drafting the financial services framework regulations of the Astana International Financial Centre (the “AIFC”). All that gave him a deep understanding of how the AIFC and its regulator operate, their structures and strategy as well as risk and control systems and procedures, appropriate for the ANU Energy Fund and the portfolios under management. 

Bauyrzhan Khamzin

Chief Financial Officer

A finance professional with over 18 years of experience in finance and related functions, including investments, transaction advisory and audit. He worked in financial institutions in Kazakhstan including a commercial bank and private equity funds, dealing with investments. During almost 9 years of work in EY (Kazakhstan), Bauyrzhan had responsibility for financial, reporting and accounting matters, audited and performed financial due diligence for a wide range of companies in various industries (banking, production, mining, telecom and construction). He also has experience working for a large quasi-state holding company, implementing state programs and structuring financing for projects using various financial instruments provided by state financial institutions. Bauyrzhan is a certified member of the Association of Chartered Certified Accountants (ACCA).

Azat Abdibekov

Commercial Officer

An experienced uranium marketing and trading professional, Azat was formerly at some of the biggest petrochemical and nuclear fuel companies in the world, including JSC NAC Kazatomprom, the world’s largest uranium producer, where he was Head of Market Analysis Section. He brings a breadth of experience in commodity markets along with a MSc in Energy, Trade & Finance from City, University of London. Total value of deals originated in the uranium market exceeds $500M. Using his significant professional network and experience, Azat is pursuing value-adding opportunities for Agraga and ANU Energy in sourcing uranium and efficiently managing inventory.