Raising a VC fund in Turkey

Since we decided to start a Venture Capital fund to invest in early stage companies in Turkey, we’ve been working around the clock to raise money and create a strong deal flow. My last post was about our deal pipeline and we are happy to say that we have a solid list of companies on our potential deal list getting stronger every day.

Fund raising is also moving forward albeit with some challenges due to being pioneers.  We want to make sure that we are doing things in the right way. I must say it is extremely pleasing to meet people who share the same vision with us want to join us as Limited Partners. We are just at the beginning of this long journey. Despite some negative feedbacks such as “not possible” or “won’t happen here,” we are confident and committed.  We already received some commitments from some LPs and will continue to do so, until we reach the number we would like to raise.

European Investment Fund (EIF) has a matching program to invest PE/VC funds in Europe. We already initiated our application to have them as LP to our fund. If we receive matching fund, we will be the first VC fund in Turkey to receive fund from EIF.