Revo, a enterprise capital fund, has efficiently satisfied worldwide buyers, such because the International Finance Corporation (IFC) and the European Investment Fund (EIF), to spend money on its third fund, which exceeds $100 million, in response to its co-founder Cenk Bayrakdar.
Bayrakdar’s remarks got here on the sidelines of an occasion in Istanbul by startups.watch to announce a funding report that wrapped up the primary quarter of the Turkish startup ecosystem.
Bayrakdar recounted Revo’s journey since its inception in 2013, when enterprise capital was a nearly untapped sector in Türkiye.
“When we established the fund, we had almost no local precedent to guide us. We learned and progressed together. The $18 million we raised at the time was a significant sum,” he mentioned.
Over a decade later, Revo’s third fund has surpassed $100 million, with the potential to develop even additional.
“We never imagined raising 90% of the fund so early. Now, we can make investments of $2-$3 million in a single deal,” Bayrakdar added.
The success of Revo’s funds has additionally spurred worldwide curiosity in Türkiye’s startup ecosystem, he mentioned.
“We contributed to increasing international interest in the Turkish startup ecosystem for investment. As international funds received good returns on their investments, they continued,” he famous.
“We convinced institutions such as the International Finance Corporation, the European Investment Fund and European Bank for Reconstruction and Development to invest in Türkiye. We facilitated the use of tax advantages for venture capital investment funds.”
Bayrakdar emphasised that as worldwide buyers proceed to see favorable outcomes, they change into extra inclined to ask others to spend money on Türkiye.
Gaps in growth-stage funding
Revo has carved a distinct segment by specializing in startups of their progress part, an space the place the Turkish ecosystem has traditionally struggled.
Bayrakdar famous that solely 5% of Turkish startups safe Series A funding, in comparison with over 20% in Europe. “Our goal is to close this Series A gap, which is one of the major shortcomings in the Turkish startup ecosystem,” he mentioned.
Many of Revo’s portfolio firms generate most of their income exterior Türkiye and lots of have engineering groups primarily based regionally however gross sales focused at worldwide markets.
“Our focus is on startups with world progress ambitions. The goal marketplace for the startups in our portfolio will not be Türkiye; in actual fact, a lot of them generate income exterior of Türkiye. These startups now largely have their engineering hubs in Türkiye, however their operations are centered on promoting internationally. Consequently, they’ve change into firms producing overseas forex earnings,” Bayrakdar mentioned.
“We don’t spend money on startups that lack world ambitions. While our investments are primarily finance-focused, we additionally control rising areas like gaming.”
Despite its concentrate on Series A and growth-stage investments, Revo additionally helps early-stage startups via fast funding rounds, mentioned Bayrakdar. Beyond Türkiye, Revo invests in tech-oriented startups throughout Eastern Europe and the Baltics.
Turkish startup ecosystem secures $58M funding in Q1
Turkish startups secured a complete of $58 million within the first quarter of this 12 months via 49 funding rounds, in response to information by trade monitor startups watch.
The figures had been introduced throughout an occasion in Istanbul that wrapped up the primary three-month interval for the Turkish startup ecosystem.
The monetary expertise (fintech) and gaming sectors dominated the January-March interval, attracting $18.1 million and $26 million, respectively, the information confirmed.
The total determine nonetheless confirmed a decline amid broader financial uncertainties, world funding developments, and the Ramadan interval.
The ongoing Series A disaster in Türkiye stays a urgent concern. Securing seed funding has change into extra accessible, thanks partially to important help from the Scientific and Technological Research Institution of Türkiye’s (TÜBITAK) BiGG Fund.
However, the true problem lies in attracting institutional investments (Series A and B) that might allow startups to develop past the seed stage. This has led many promising startups to both relocate overseas or lose their progress potential.
In truth, no advanced-level investments occurred in Türkiye throughout Q1 2025, underscoring this ongoing problem.
Despite the slowdown, sure sectors managed to face out. The gaming and fintech sectors had been significantly distinguished by way of funding quantities, pushed by startups like Good Job Games and Fimple.
Although synthetic intelligence investments appeared modest at first look, it is vital to notice that this sector continues to be in its “seed stage.” A complete of 13 AI startups acquired funding in the course of the first quarter, with 5 of them supported by TÜBITAK’s help applications.
Women-led startups surge
In a groundbreaking growth, Türkiye witnessed its first-ever “dragon exit,” a full return of a complete deep tech fund, when Burgeon, a portfolio firm of DCP, was offered to French agency Vivacy Laboratories. This reaffirms the significance of affected person, long-term investments in deep expertise.
Another encouraging growth has been the rise in investments in women-led startups. Investments in ventures led by girls entrepreneurs reached 34% share, a notable improve from previous years the place this determine struggled to exceed 21%.
This improve was considerably boosted by the TÜBITAK’s BiGG’s help for girls entrepreneurs, offering focused help and serving to to bridge gender gaps in entrepreneurship.
Additionally, professor Atilla Dikbaş, normal supervisor of Istanbul Technical University (ITÜ) Arı Teknokent, introduced the launch of a brand new enterprise capital funding fund.
Dikbaş highlighted the function of ITÜ Çekirdek incubation middle in nurturing globally-focused startups via its award-winning accelerator program. This initiative goals to supply enhanced monetary help to rising ventures, strengthening Türkiye’s place as a regional innovation hub.
Countries urged to construct nationwide cloud, information middle infrastructure
In at the moment’s digital world, the place information has change into essentially the most useful asset, multinational cybersecurity firm Kaspersky cautions international locations mustn’t depend on a single supply for information middle entry.
Eugene Kaspersky, the founder and CEO of Kaspersky, highlighted the need of nationwide alternate options in cloud and information middle infrastructure, significantly as synthetic intelligence turns into extra distinguished.
Speaking particularly about Türkiye, Kaspersky mentioned, “Türkiye should have local options for data centers and cloud infrastructure to support AI development.”
Referring to Russia’s expertise, he famous, “When American and European tech companies left Russia, it wasn’t easy to keep systems running. But Russia succeeded, because it had the national resources to maintain its digital systems and processes.”
Growth in Türkiye
Kaspersky shared the corporate’s 2024 monetary outcomes throughout a press occasion in Istanbul earlier than the Global Partners Conference. Kaspersky achieved a record-breaking efficiency with an 11% improve in gross sales, elevating its income to $822 million. The firm additionally posted a outstanding 42% progress in gross sales in Türkiye.
In 2024, Kaspersky continued to develop its answer portfolio and develop its business in favorable markets. Despite geopolitical tensions and ensuing restrictions, the corporate maintained a constructive progress trajectory.
While strengthening its management in enterprise cybersecurity options, Kaspersky additionally remained a big supplier of client cybersecurity.
The firm’s world efficiency was pushed by constant and constructive outcomes throughout most areas, particularly within the Middle East, Türkiye, and Africa (META) area, which grew by 18%. Türkiye stood out with a 42% improve in business, pushed by important progress in each the B2B (82%) and B2C (12%) segments.
Kaspersky Türkiye General Manager Ilkem Özar expressed satisfaction with the corporate’s achievements and ongoing dedication to partnership growth.
Global convention in Türkiye
“Kaspersky is a partner-centric company dedicated to building and enhancing a strong partner network. We strive to make collaboration both profitable and seamless, with customer satisfaction as our top priority,” she mentioned.
“We’re happy to return along with our companions at this particular occasion. The Partner Conference consists of many high-profile discussions that can form Kaspersky’s forward-looking initiatives, significantly relating to additional investments in Türkiye and the META area.”
The 12 months 2024 additionally marked the introduction of Kaspersky’s new flagship product line, Kaspersky Next. This portfolio combines strong endpoint safety with the transparency and pace of Endpoint Detection and Response (EDR), together with the visibility and highly effective instruments of Extended Detection and Response (XDR). The new line goals to additional enhance B2B ecosystem gross sales.
New-generation studying alternatives: Türk Telekom Academy
An academy by Türk Telekom, one in every of Türkiye’s main telecommunications and expertise firms, is providing a variety of instructional applications designed for people who want to improve their expertise and competencies, advance their careers, and participate in the way forward for the communication world.
The Türk Telekom Academy gives development-oriented coaching tailor-made to the wants of customers from all walks of life.
The Türk Telekom Academy coaching platform consists of free programs designed for each private {and professional} growth, in addition to digital certification applications developed in collaboration with universities. These instructional assets can be found to anybody who values self-development.
Through the “Career Package,” customers can entry coaching in classes akin to office dynamics, management, monetary experience, gross sales, and communication expertise. Moreover, below the “Foreign Language Training” class, customers can select from 38 overseas language programs, all of which have been localized with Turkish interfaces.
Whether you’re a current graduate, somebody planning a profession shift, a person aiming for skilled progress, or just somebody who values lifelong studying, Türk Telekom Academy has a program for you. It serves everybody with skilled and private growth targets.
Certificates, career-focused applications
Türk Telekom Academy’s instructional packages are supplied throughout 9 essential classes. Among them are the Micro MBA and different certificates applications delivered in collaboration with Istanbul Bilgi University, offering future leaders with the coaching they should succeed.
The profession applications additionally embody over 100 programs in management, gross sales, communication, finance, company growth, Microsoft Office and private enrichment.
With an in depth catalog of over 11,000 movies and greater than 600 particular person classes, the platform presents complete coaching in private growth, skilled growth, data applied sciences, pictures, graphic design, internet design, programming, 3D modeling and animation, and video modifying. These assets are perfect for people searching for to upskill or reskill of their present professions or discover new profession paths.
For those that need to enhance themselves, a big selection of free applications that includes lots of of classes can be out there. One standout providing is a web-based pace studying program, which makes use of scientific strategies to assist customers improve their studying comprehension and tempo.
Source: www.dailysabah.com