While we are meeting with potential LPs (Limited Partners) to raise 212VC fund, we are constantly adding startups to our deal-pipeline. So far it has been very encouraging to see quality entrepreneurs starting businesses in Turkey despite the global turbulence in economy. Last week alone, we were introduced to six new startups.
Building a pipeline is not a simple task. Talking with entrepreneurs, understanding their approach, seeing the values and risks, and most importantly working together with entrepreneurs to help them achieve their goals take a lot of time and effort. Nevertheless, I am confident that things will be easier as the market evolves.
There are some good news in Turkey I would like to share. First, investments: Vistek received an investment from Isra Vision AG and changed its name to Vistek-IsraVision. I’m guessing it is an exit to founders and investors. In addition, Artesis received an investment from GE. Last but certainly not least, e-tohum, an incubation house in Istanbul, raised $170,000 to invest in e-tohum companies in 2011. I’m very happy to see incubation houses and seed funds are starting to happen. This will only help grow the ecosystem.