212 Capital Partners completes investment in Butigo.com

Amsterdam, the Netherlands, January 16, 2012

212 Capital Partners I, the early-stage venture capital fund advised by 212 Ltd, announces investment in Butigo.com, a Turkish online fashion retail start-up, focusing on fast fashion, catering to the young female consumer.

Butigo, founded by three young entrepreneurs, Gizem Yasa, Harun Guner and Berk Alevi, successfully built a significant following in the fast fashion space in Turkey in less than six months. The members-only site offers a way for young women to get the style advice celebrities get from their personal stylists. Members fill out a style profile, and Butigo recommends different shoes, handbags, and accessories on a monthly basis.

Ali H. Karabey, Managing Director of 212 Ltd, said: “We are excited to complete our first investment. Turkey offers a USD 5 billion and growing shoe-market with minimal online penetration. We believe the Butigo team will become a leader in this space with their disruptive business model. We thank the founders for choosing our team to support them on their journey to success.”

212 Ltd advises 212 Capital Partners I, currently the biggest early-stage venture capital fund dedicated to make investments in early stage internet and technology companies in Turkey. The Fund completed its first closing in less than two months after it launched in October 2011.

For further information, please visit: www.212ltd.com