Funding

[Funding alert] Türkiye Venture Capital Firm Revo Capital Secures $100 million in Funding

Dec 20, 2023 | By Startup Rise EU

Revo Capital, a venture capital firm based in Turkey, secures $100 million. Two tech unicorns, Getir (food delivery service) and Builder.ai (software design platform), were formerly backed by Revo Capital. It also spearheaded Paribu Ventures' joint investment in the international e-sim travel business Roamless.

Managing Director Cenk Bayrakdar told Bloomberg: “We only invest in global companies or in companies that have global business. Foreign investors don’t prioritise Turkey-only businesses.”

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According to Bayrakdar, the fund aims to raise $100 million, with a limit of $150 million, and will target a first close of between $50 and $60 million in March.

About Revo Capital

In Turkey, Revo Capital are the biggest VC. They raised $66 million for their first fund at the end of 2013. They closed their €90 million second fund, which was oversubscribed, in September 2021.

They have made 31 investments and 13 successful exits to date, focusing on highly unique, early-stage B2B or B2C digital enterprises in Turkey, Eastern Europe, and the Baltics.

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