Revo Capital Becomes Turkey’s Largest VC Fund With the Final Closing of Oversubscribed Fund II at €90M
Originally starting the fund raise process with a target size of 60 million Euros, Revo Capital ended up closing an oversubscribed second fund at 90 million Euros, making it Turkey's largest VC fund to date. The continued interest and support that Revo Capital has drawn from institutional and global investors reflects the trust in Revo's strategy and the success of its first fund. Thanks to the financial returns of its first fund, Revo Capital ranks in the top decile among the same vintage VC funds globally. Revo managed to finalize 3 exits, 3 new investments in the last 3 months in tandem with Fund II closing . As the largest VC fund in Turkey, Revo Capital will continue making investments in Turkey, Eastern Europe and Baltics .
Revo Capital was proud to onboard returning cornerstone investors IFC and EBRD and welcomes premier institutional investors Turkish Growth and Innovation Fund (TGIF) as advised by European Investment Fund (EIF), German Investment Corporation (DEG), Turkey Development Fund, as well as several prominent local corporate investors, family offices and entrepreneurs. Koray Bahar and Ahmet Bilgen, founders of Foriba (a Revo Fund I portfolio company exited to Sovos Inc) contributed to Revo's second fund, proving very positive circular impact of financing great entrepreneurs, strengthening the development of the ecosystem.
Revo Capital to continue its proven investment strategy in Fund II
“We are proud of the everlasting support we received from our long-time LPs IFC and EBRD, and the interest from new long-term LPs EIF and DEG,” said Cenk Bayrakdar, Revo Capital’s Founding Partner . "The last decade was laying the foundation of our belief that providing capital and operational/growth support to fast-growing software and tech-enabled startups from Turkey, Eastern Europe and Baltics will help them become industry and global leaders. As the first fund investing in Turkish unicorn Getir, we have firsthand experienced how its success strengthened the Turkish startup ecosystem, motivating entrepreneurs as a role model to build global category-defining products and services. As Revo Capital, we invest in certain select verticals and the latest developments have proven us right about these verticals. We work hand in hand with entrepreneurs and look forward to continuing our proven investment strategy with Fund II.”
Revo Capital invests in Series A and B rounds of startups with a proven product-market fit and potential for global market disruption. Revo Capital's close relationship with its vast investment network enables easier access to capital for its portfolio companies as they scale up to overseas markets. Revo Capital has already made 5 investments from its second fund : CY Vision, Massive Bio, Getir, Akinon and Vivoo.
Revo Capital’s target verticals are fintech, SaaS, marketplaces, B2B cloud, Martech, Big Data and AI, and (as a new vertical for Fund II) Health IT. “The rapid pace of digitization in the last couple of years has brought these sectors into focus and we believe that they will see tremendous growth going forward,” Bayrakdar said.
The second fund continues the success of the first fund, which saw 6 profitable exits, among them many stars of the Turkish digital ecosystem such as Foriba, Paraşüt and Getir.
Raising its reputation among the leading investors in Turkey, Central and Eastern European regions thanks to the success of its second fund, Revo Capital will keep on utilizing its hands-on approach to create international funding opportunities in the follow-up rounds for its new investments. Cenk Bayrakdar added: "We are perfectly placed to act as a catalyst to accommodate the new wave of ambitious local founders who want to target global markets. Through our collaborative approach and international network, we can help bridge them to larger investors and open them up to capture growth opportunities globally."
For more info, you can visit: https://www.revo.vc/
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
DC-EIG24.10.2021 23:32:36 CEST | Press release
EIG Signs Agreement to Acquire 10% Interest in APLNG for US$1.592 Billion
SES24.10.2021 06:10:12 CEST | Press release
SES-17 Successfully Launched on Ariane 5
PROMPERÚ22.10.2021 19:17:07 CEST | Press release
Peru Holds a Ribbon Cutting Ceremony at Its Pavilion at Dubai Expo and Wins 4 World Travel Awards
TX-SCHLUMBERGER-LIMITED22.10.2021 12:52:09 CEST | Press release
Schlumberger Announces Third-Quarter 2021 Results
DISRUPTIVE.ASIA22.10.2021 12:32:08 CEST | Press release
Disruptive.Asia: Huawei's Ryan Ding and Peng Song Discuss How Operators Can Leverage Connectivity to Unlock New Growth
SUZANO22.10.2021 12:21:06 CEST | Press release
Suzano Brings Its Target for Capturing 40 Million Tons of Carbon From the Atmosphere Forward To 2025
ANT-GROUP22.10.2021 12:03:04 CEST | Press release
AntChain Launches Its First Security Chip and New Blockchain Platform Powered by Privacy Computing Technology
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom