Revo Capital completes second fund setup with excess demand

Revo Capital completed its second fund setup with 90 million Euros, ranking first among venture capital funds in Turkey.

Revo Capital, which is among the top 10 percent of venture capital funds established all over the world in the same period with the financial return it created in the first fund, has made 3 exits, 3 investments and closed 1 fund in the last 3 months. Ranking first among venture capital funds in Turkey with its second fund figure, Revo Capital Turkey will continue to invest in technology companies in Eastern Europe and the Baltics.

Revo Capital’s second fund investors include the European Investment Fund (EIF), the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD) and the German Investment Organization (DEG), in addition to important development institutions such as the Development and Investment Bank of Turkey. companies, family offices and entrepreneurs also took part. The participation of Koray Bahar and Ahmet Bilgen, one of the founding partners of Foriba, the portfolio company from which Revo Capital exited in the first fund, as investors in the second fund, drew attention as a very valuable development for the development of the ecosystem.

CENK BAYRAKDAR; “WE WILL CONTINUE OUR PROVEN INVESTMENT STRATEGY WITH OUR SECOND FUND.”

Evaluating this success, Revo Capital Co-Founder Cenk Bayrakdar said the following about the subject; “We are proud of the support of our long-term investors EIF and DEG, which support our second investment and second fund from IFC and EBRD, which are among our longtime investors. We continue to believe that providing capital and operational/growth support to fast-growing software and technology-enabled startups from Turkey, Eastern Europe and the Baltic is important in the path of industry and global leadership. I am sure that Getir, of which we are the first institutional investor, is an important role model for the Turkish entrepreneurship ecosystem and that similar success stories will be created. As Revo Capital, we invest in certain verticals and developments prove these areas to us. We work shoulder to shoulder with entrepreneurs, and we will continue this approach and proven investment strategy with the second fund.”

MORE THAN 10 UNICORNS ARE EXPECTED TO GO FROM TURKEY IN THIS TEN YEARS

The second fund follows the success of the first fund, which has already invested in the venture, 6 of which have been sold profitably. Having invested in the stars of the Turkish digital ecosystem such as Getir, Foriba and Paraşüt, the fund continues to provide resources to Turkish enterprises by continuing its new investments. Evaluating these developments, Bayrakdar said, “While the technology ecosystem in Turkey is growing at an extraordinary rate, it has re-entered the radar of global investors. In the first half of 2021, the amount of venture capital investments made to start-ups in Turkey increased 8 times to the same period of the previous year and reached approximately 1.5 billion dollars. The capital invested in startups in Turkey exceeded 2 percent of the total value invested across Europe, solidifying Turkey’s position as an international entrepreneurial ecosystem. We expect more than 10 unicorns and a few decacorns to emerge from Turkey this decade.”

Strengthening its reputation as the leading investor in Turkey, Central, Central and Eastern Europe with the success of the second fund, Revo Capital helps new startups reach their potential with the principle of “working closely”, and paves the way for these startups to receive investment from international venture capital funds in the next stages. Cenk Bayrakdar said, “We are in the perfect position to act as a catalyst in this period when ambitious local initiatives looking to target global markets are on the rise. Thanks to our collaborative approach and international network, we continue to take startups abroad and introduce them to the world’s leading investors.” he adds.


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Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.

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