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24 Best Active Investors in Turkey in 2024

Over the past decade, Europe has become the second largest technology ecosystem in the world, creating startups solving problems worth solving in society. Behind many of these companies are investors who provide not just funds but also guidance and support.


Our 2024 list brings together the most notable investors from across the continent, with everyone listed having a track record of making strategic investments in generation-defining companies. These rankings are the result of tracking investment activity across 17,000+ companies and +2,500 venture capital investors Europe, and includes funds who have invested in at least 5 European companies in the past year, regardless of where they are HQ'd.


Whether you're a budding entrepreneur seeking the right funding partner, an investor looking for co-investment opportunities, or simply curious about the financial powerhouses investing in Europe, this list provides invaluable insights into the region.


Last update to the database: Dec 10, 2024. See changelog.


Icon Investor Rankings are calculated using our ÐÓ°ÉÔ­´´ Score – a 1 to 100 score that uses quantitative and qualitative data points (like the size of their fund or the quality of the companies they invested in) to signal the strength behind an investor. A score closer to 100 indicates an investor is worth watching closely.

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List of 24 top Turkey VCs

Next Ventures is a venture capital fund based in London. They invest in early-stage companies in sectors such as health technology, biotech, manufacturing, advanced tech, pharmaceuticals, and sports and fitness technology. Notable investments include Terra and Testmate Health. Next Ventures aims to support founders looking to make a significant impact in their industries.

33

Offices:

London (HQ)

San Francisco

Istanbul

Investment Stage:

Seed

Check Size:

$2.5M - $5M

Industries:

Health Tech, FinTech, Crypto & web3

Top investments in Turkey:

Colendi (
60)
, Terra (
37)
, Testmate Health (
15)

Re-Pie Asset Management, based in Istanbul, is Turkey's first alternative asset management company, authorized by the Capital Markets Board in 2015. The firm primarily invests in Series A stage companies, with a focus on ecommerce businesses like ikas. Since 2020, Re-Pie has expanded to manage various fund types, enhancing funding opportunities in Turkish capital markets. With a team of experienced professionals, Re-Pie aims to offer strong investment returns through a structured investment process and risk management, aligning with clients' risk and return expectations.

30

Offices:

Istanbul

Investment Stage:

Series A, Series B

Check Size:

$5M - $70M

Industries:

FinTech, Crypto & web3, Data and Analytics

Top investments in Turkey:

Colendi (
60)
, ikas (
46)
, wamo (
34)

Revo Capital, based in Amsterdam, invests between €1 million and €6 million in tech startups in Turkey, Eastern Europe, and the Baltics. Managing $188 million, they fund companies from seed to Series C stages. Their portfolio includes Bumper, Builder.ai, Midas, TransferGo, and Getir, targeting sectors like AI, health tech, fintech, and ecommerce.

28

Offices:

Amsterdam (HQ)

Istanbul

Investment Stage:

Seed, Series A, Series B, Series C, Unknown

Check Size:

$2.5M - $250M

Industries:

Health Tech, FinTech, Foodtech

Top investments in Turkey:

Bumper (
67)
, Builder.ai (
60)
, Getir (grocery delivery company) (
48)

Tera Portfoy, a venture capital fund based in Istanbul and part of Tera Yatırım Menkul Değerler A.Ş., specializes in early-stage investments, particularly in fintech. Active in the financial sector since 1990, the fund has invested in firms like Fimple. It aims to add value to investments with a strong capital structure, experienced management, and high ethical standards. Leveraging an extensive research team and industry expertise, Tera Portfoy focuses on sustainable client satisfaction.

26

Offices:

Istanbul

Investment Stage:

Seed

Check Size:

$5M - $10M

Industries:

FinTech

Top investments in Turkey:

Fimple (
41)

StartupFon, based in Istanbul, is a venture capital fund investing in early-stage tech startups, particularly in gaming and mobile sectors. Supporting promising Turkish founders, they've funded companies like Fortune Mine Games. As Turkey's first co-investment fund, StartupFon leverages a robust business network to foster startup growth. Additionally, they contribute to the ecosystem through their TechInvestor Academy, offering training and resources for entrepreneurs.

24

Offices:

Istanbul

Investment Stage:

Seed

Check Size:

$2.5M - $5M

Industries:

FinTech, Crypto & web3, Gaming

Top investments in Turkey:

Colendi (
60)
, Fortune Mine Games (
18)

HEDEF is a venture capital fund based in Istanbul that invests in early-stage startups, focusing on the crypto, web3, and fintech sectors. It provides financial support and strategic guidance to entrepreneurs who face challenges in securing traditional funding. HEDEF's investments include Enqura Information Technologies. The fund aims to promote venture capital and angel investing in the region, offering crucial support to high-potential startups.

23

Offices:

Istanbul

Investment Stage:

Seed

Check Size:

$5M - $10M

Industries:

FinTech, Crypto & web3

Top investments in Turkey:

Enqura Information Technologies (
37)

Finberg is a company founded in 2018.

21

Offices:

Istanbul

Investment Stage:

Seed, Series A, Series B

Check Size:

$1M - $70M

Industries:

FinTech, Crypto & web3, AI

Top investments in Turkey:

Colendi (
60)
, wamo (
34)
, Mindsite (
21)

Eksim Ventures is a venture capital fund based in Istanbul, founded in early 2021 by Eksim Holding. Leveraging 35 years of experience, the fund focuses on early-stage investments ranging from $500,000 to $2 million. Sectors of interest include cryptocurrencies, blockchain, and fintech. Notable investments include Enqura Information Technologies.

21

Offices:

Istanbul

Investment Stage:

Seed, Series A

Check Size:

$5M - $10M

Industries:

Health Tech, FinTech, Crypto & web3

Top investments in Turkey:

Enqura Information Technologies (
37)
, Hiwell Online Psychological Counseling (
30)

Boğaziçi Ventures, based in Istanbul, is a venture capital fund specializing in seed-stage investments in mobile and gaming tech startups. Founded by experienced tech entrepreneurs, the fund offers financial backing and expert support to help ventures grow internationally. Investments include Lokum Games and Hungri Games. Focused on the Eastern Europe, Turkey, and MENA regions, Boğaziçi Ventures aims to combine traditional capital with innovative tech talent to build strong, enduring businesses and deliver robust returns for investors.

20

Offices:

No data available

Investment Stage:

No data available

Check Size:

$100k - $500k

Industries:

No data available

Top investments in Turkey:

No data available

Boğaziçi Ventures, based in Istanbul, is a venture capital fund specializing in seed-stage investments in mobile and gaming tech startups. Founded by experienced tech entrepreneurs, the fund offers financial backing and expert support to help ventures grow internationally. Investments include Lokum Games and Hungri Games. Focused on the Eastern Europe, Turkey, and MENA regions, Boğaziçi Ventures aims to combine traditional capital with innovative tech talent to build strong, enduring businesses and deliver robust returns for investors.

20

Offices:

Istanbul

Istanbul

Investment Stage:

Pre Seed, Seed, Series A

Check Size:

$1M - $5M

Industries:

Health Tech, FinTech, Crypto & web3

Top investments in Turkey:

Colendi (
60)
, Hiwell Online Psychological Counseling (
30)
, Lokum Games (
28)

Sistem Global is a venture capital fund based in Istanbul that invests in early-stage technology startups, primarily in crypto, web3, and fintech. They focus on seed investments with check sizes ranging from $500,000 to $10 million. Part of a larger group founded in 1996, Sistem Global has offices in multiple cities, including Ankara and Istanbul, and employs over 170 people. The group offers services in corporate finance, tax and audit, legal, and patent support. One of their investments is Enqura Information Technologies.

20

Offices:

Istanbul

Investment Stage:

Pre Seed, Seed

Check Size:

$1M - $5M

Industries:

FinTech, Crypto & web3

Top investments in Turkey:

Enqura Information Technologies (
37)
, ²Ñü°ì±ð±ô±ô±ð´Ú (
26)

ACT Venture Partners is a venture capital fund based in Amsterdam. They invest in early-stage deep-tech startups, particularly those in manufacturing, AI, security, and developer tools. With investment amounts ranging from €0 to €1,000,000, they support companies like Ai Build, Rototip, and Picus Security.

17

Offices:

Amsterdam (HQ)

London

Istanbul

Investment Stage:

Pre Seed, Seed, Unknown

Check Size:

$500k - $10M

Industries:

AI, Biotech, Cybersecurity

Top investments in Turkey:

Ai Build (
44)
, Picus Security (
33)
, Rototip (
15)

Logo Ventures is the venture capital arm of Logo Yazılım (IST:LOGO), one of the largest and fastest growing software companies in Turkey, and it manages two venture capital funds.

17

Offices:

Istanbul

Investment Stage:

Seed, Series A

Check Size:

$2.5M - $5M

Industries:

FinTech, Ecommerce, Technology

Top investments in Turkey:

wamo (
34)
, Getmobil (
21)

Ak Portfoy, founded in 2000 and based in Istanbul, is a subsidiary of Akbank T.A.Åž. specializing in venture capital for early-stage startups. They manage investment and pension funds and offer portfolio management and investment advice. The firm focuses on data analytics and ecommerce sectors, aiming to provide a superior investment experience under all market conditions. One of their notable investments is in heybooster. Ak Portfoy does not impose any minimum or maximum check size for their investments.

16

Offices:

Istanbul

Investment Stage:

Pre Seed

Check Size:

$1M - $2.5M

Industries:

Data and Analytics, Ecommerce

Top investments in Turkey:

heybooster (
26)

Arz Portfolio, based in Istanbul, is a venture capital fund that invests in very early-stage startups, focusing on data analytics and e-commerce. They typically make small investments and have supported companies like heybooster. Founded in 2015, Arz Portfolio now manages 14 investment funds, with total assets reaching around 8 billion TL as of October 2023.

16

Offices:

Istanbul

Investment Stage:

Pre Seed

Check Size:

$1M - $2.5M

Industries:

Data and Analytics, Ecommerce

Top investments in Turkey:

heybooster (
26)

Teknogirişim GSYF is a venture capital fund based in Istanbul, focusing on early-stage startups in their seed and pre-seed phases. The fund invests in areas such as business intelligence, fintech, and sales and marketing, with variable check sizes. It has backed companies like Fimple, Turan, Adsby, and Akaunting. Managed by Kuveyt Türk Portföy Yönetimi A.Ş., a subsidiary of Kuveyt Türk Katılım Bankası A.Ş., the fund follows international interest-free finance principles and is overseen by an independent advisory board.

13

Offices:

Istanbul

Investment Stage:

Pre Seed, Seed

Check Size:

$100k - $5M

Industries:

FinTech, Adtech, Sales and Marketing

Top investments in Turkey:

Fimple (
41)
, Adsby (
18)
, Akaunting (
15)

Hepsiburada, based in Istanbul, is a venture capital fund investing in early-stage companies, particularly in payments and fintech. Known for its robust e-commerce platform in Turkey, it connects about 50 million members and over 100,000 active merchants. The company offers a diverse product range and competitive pricing to enhance the customer shopping experience. An efficient logistics network ensures fast delivery. Founded in 2000, Hepsiburada has significantly contributed to Turkey's e-commerce growth and invests in promising startups like Craftgate.

11

Offices:

No data available

Investment Stage:

No data available

Check Size:

$100k - $500k

Industries:

No data available

Top investments in Turkey:

No data available

Hepsiburada, based in Istanbul, is a venture capital fund investing in early-stage companies, particularly in payments and fintech. Known for its robust e-commerce platform in Turkey, it connects about 50 million members and over 100,000 active merchants. The company offers a diverse product range and competitive pricing to enhance the customer shopping experience. An efficient logistics network ensures fast delivery. Founded in 2000, Hepsiburada has significantly contributed to Turkey's e-commerce growth and invests in promising startups like Craftgate.

11

Offices:

Istanbul

Istanbul

Investment Stage:

Pre Seed

Check Size:

$1M - $2.5M

Industries:

FinTech, Payments

Top investments in Turkey:

Craftgate (
18)

United Payment is a venture capital fund based in Istanbul. It focuses on seed-stage investments in financial technology startups, providing the necessary capital and support for growth. The fund has backed companies like Turan, leveraging its extensive experience and resources. United Payment aims to make financial solutions accessible to all, transforming businesses into fintech leaders. With a culture valuing diversity, cooperation, and transparency, and a team of 350 employees across five countries, the firm strives to build a better financial world.

9

Offices:

Istanbul

Investment Stage:

Seed

Check Size:

$2.5M - $5M

Industries:

FinTech, Investing

Top investments in Turkey:

Turan (
15)

Offices:

Istanbul

Investment Stage:

Seed

Check Size:

$2.5M - $5M

Industries:

Hiring and Recruitement

Top investments in Turkey:

Idenfit (
15)

Offices:

Istanbul

Investment Stage:

Seed

Check Size:

$2.5M - $5M

Industries:

Hiring and Recruitement

Top investments in Turkey:

Idenfit (
15)

REM People, based in Istanbul, is a venture capital fund specializing in retail analytics and technology sectors. They invest up to $4.5 million in promising startups and help clients like Coca-Cola, Nestle, and Unilever track sales performance using AI-powered solutions. With offices in Istanbul, Dubai, London, and Saudi Arabia, they plan to expand to the USA, Singapore, Denmark, and Nigeria in 2024. REM People aims to enhance the global entrepreneurial ecosystem through their investments.

1

Offices:

No data available

Investment Stage:

No data available

Check Size:

$100k - $500k

Industries:

No data available

Top investments in Turkey:

No data available

REM People, based in Istanbul, is a venture capital fund specializing in retail analytics and technology sectors. They invest up to $4.5 million in promising startups and help clients like Coca-Cola, Nestle, and Unilever track sales performance using AI-powered solutions. With offices in Istanbul, Dubai, London, and Saudi Arabia, they plan to expand to the USA, Singapore, Denmark, and Nigeria in 2024. REM People aims to enhance the global entrepreneurial ecosystem through their investments.

1

Offices:

Istanbul

Istanbul

Investment Stage:

No data available

Check Size:

$100k - $500k

Industries:

No data available

Top investments in Turkey:

No data available

Deniz Ventures, a venture capital fund based in Istanbul, invests in technology startups across the EMEA region with global growth potential. They provide support and resources to help companies scale, writing checks between $250k and $5M across various stages and industries. Partnering with Deniz Ventures helps technology startups gain the momentum needed for growth and success.

1

Offices:

Istanbul

Investment Stage:

No data available

Check Size:

$100k - $500k

Industries:

No data available

Top investments in Turkey:

No data available